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2022-06-29

Your Take on NFT Art?

The Digital Art Fair, the first of its kind blending physical space and digital and NFT art in Hong Kong, unfolded to much fanfare last month.

Undoubtedly, digitising art can promote broader cultural exchange across borders as it saves the cumbersome task of flying an art piece over geographical distances. But before jumping into the conclusion that digital art is more sustainable and eco-friendly than traditional art pieces, we must not forget the carbon emissions from the energy that is used to power the digital displays and interactive features, as well as the carbon footprint of NFT.

An abbreviation of "non-fungible token", NFT is a unit of data that certifies the uniqueness, authenticity, and ownership of a digital asset. NFT is stored on a blockchain, which can be imagined as a digital ledger or a database that stores data in blocks that are then chained together. When implemented in a decentralised manner, blockchains are immutable, which means that the data entered is irreversible and cannot be manipulated by anyone. But that security of ownership and identity comes at a high environmental price: by some estimate, an NFT has the carbon footprint that is equivalent to more than a month’s worth of electricity for a person living in the EU.

Whether the issue of NFT's heavy carbon footprint can be solved remains debatable. What are your thoughts on digital art and NFT art?

#carbonemissions #carbonneutral #digitalart #NFT #blockchain #climatechange

Source from:

Mashable