Forex in this article
Environmental NFTs under criticism
Kaloscope: NFTs for Africa’s Green Wall
GainForest: Donors are rewarded with NFTrees
How harmful to the climate are NFTs really?
NFTs have already gained a foothold in many areas. For example, they are used by artists to create and distribute their art or to help people in need, as was the case recently in the course of the Ukraine war. Nevertheless, NFTs are often criticized for their carbon footprint, as nftnow explains. And in fact, the energy consumption of large blockchains is not exactly low. The Bitcoin and Ethereum blockchains together consume over 317 TWh of energy annually. This puts the blockchains roughly between Italy and the United Kingdom in terms of consumption. What initially sounds like a lot should, however, also be viewed in the right context. As nftnow further explains, numerous industries consume more energy than many countries. In addition, there are already energy-efficient NFTs available for purchase and some blockchain projects may well contribute to the fight against climate change.
Africa’s Green Wall
The metaverse platform Kaloscope announced via press release in June that they would add William Kwende to their board of directors as a strategic sustainability advisor and start the project “The Great NFTrees”. This project aims to enable users to purchase tree NFTs linked to georeferenced locations of trees planted in Africa’s Great Green Wall. Africa’s Green Wall is the world’s largest carbon sequestration project, aiming to plant a trillion trees across 8,000 kilometers of Africa. Each of the NFTrees will be associated with one of the three tree species of the Great Green Wall, baobab, acacia and shea, NFTnow explains. Finally, once the purchase is complete, owners can display their purchased NFT in their own unique Kaloscope Metaverse. Kaloscope CEO Kirck Allen tells NFTnow that the Metaverse itself will also be an NFT, allowing collectors to track exactly where their sustainable purchase is in the Great Green Wall.
“There’s been a lot of talk about NFTs not being sustainable. If you’re able to tie that together in a romantic way by having digital assets or collectibles based on a tree in Africa and in the “Able to say you’ve collected them and you have a location number, you know where they are. You have an emotional attachment to it, it’s connected to something real. I showed this to William and some of my friends from South Africa, and some of them cried because it reminded them of their homeland, of a tree they grew up under,” Allen said. The project is scheduled to start in the fourth quarter of this year.
NFTrees in South America
The non-profit Swiss association GainForest also uses the crypto world in the fight against climate change. Together with Paraguay’s Ministry for the Environment and Sustainable Development (MADES), NFTrees are to save a total of 1,000 hectares in the Gran Chaco, the second largest forest in South America. According to expert estimates, by 2028 at least half of the entire Gran Chaco area, which stretches across parts of Argentina, Brazil, Bolivia and Paraguay, could be gone. To protect the forest, GainForest plans to lease the 1,000-hectare site for the next 30 years. In return, the government will also extend its protection for the adjacent Defensores del Chaco National Park for the next 30 years. Finally, the NFTrees are intended to reward donors for the project. These NFTs collect live data such as drone data, satellite imagery, conservation photography and wildlife cameras from the area and track impacts over time.
E. Schmal / Editor Forex-news.com.net
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