Are NFTs Bad for the Environment? The Truth Revealed
Disclaimer: The Industry Talk section features insights from crypto industry players and is not a part of the editorial content of Cryptonews.com.
There is regular media coverage on blockchain networks consuming vast levels of energy. According to recent reports, Bitcoin alone consumes more energy that the entire population of Argentina.
Therefore, that begs the question - are NFTs bad for the environment? Read on to find out what our research concluded.
Overall, we found that while some crypto assets and NFTs can be bad for the environment, this isn't the case across the board. IMPT, for example, is a newly launched project that actually contributed to environmentally-friendly causes through its carbon credit ecosystem.
Moreover, IMPT is also one of the most sustainable cryptocurrencies from an investment perspective, as users have the option of selling their carbon credits on the secondary market.
Should the global value of carbon credits increase, this would offer an opportunity to generate gains.
IMPT is currently offering its digital tokens via a presale launch, with early stakeholders having access to the best price possible.
Visit IMPT Presale Now
Before being able to evaluate whether or not NFTs are bad for the environment, it is important to have an understanding of the basics. First and foremost, just like conventional crypto assets - NFTs operate on the blockchain network.
This means that NFTs operate in a decentralized manner and thus - transactions are verified by miners. When a new NFT is minted, for example, this requires a transaction on the respective blockchain. In turn, this requires miners to verify the transaction via complex mathematical equations.
This process - depending on the blockchain, often
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