Any idea to sell crypto art might sound fun, and donating the money to someone in need sounds like doing a good thing, but the hidden cost is the ecological violence that happens in the production of the energy needed to do even one ETH transaction.

Great article on this: https://memoakten.medium.com/the-unreasonable-ecological-cost-of-cryptoart-2221d3eb2053

The footprint of a single transaction relating to a NFT on SuperRare averaged across all 80000 transactions (including minting, bidding, sales, transfers etc) is 76 kWh, with emissions of 47 KgCO2 (details in Part 2).

A single NFT can involve dozens of transactions, and potentially more. These include minting, bidding, cancelling, sales and transfer of ownership.

This generally pushes the footprint of a single NFT into hundreds of kWh, and hundreds of KgCO2 emissions, and often even more.

In fact, of the ~18000 CryptoArt NFTs that I analyzed, the average NFT has a footprint of around 340 kWh and 211 KgCO2 (details in Part 2).

This single NFT’s footprint is equivalent to a EU resident’s total electric power consumption for more than a month, with emissions equivalent to driving for 1000Km, or flying for 2 hours.

  • CarlTheRedditor [he/him]
    ·
    4 years ago

    https://twitter.com/GigaEnergy_?s=09

    Looks like they're offering this as a solution to oil producers who normally would just flare (read: burn as waste) the gas otherwise.

    Capitalism: The Efficient System™️