NFTs, or non-fungible tokens, are digital collectibles that often come at a high cost — both to the investor and to the planet.
As the popularity of NFTs has grown, so has the conversation about lessening the environmental impact of these types of blockchain assets. New blocks of information are added — or “mined” — to a decentralized blockchain network based on a process called proof-of-work, which requires expensive computer hardware that consumes a lot of power.
Several companies, including sustainability platform Aerial and music-centered platform Oneof, have recently launched initiatives to help offset the carbon footprint of minting NFTs. Last week, Real Nifty announced the launch of “The Ultimate Green NFT” aimed at helping reforestation efforts in southeastern Brazil.
Every user that purchases an NFT through the To Be Named Atlantic Rainforest project will fund the planting, growing and maintaining of native species in the Atlantic Forest region of Brazil. NFT holders will also have a plot of forest land named after them and will hold a 30-year license to the carbon credits.
Brazil is home to the largest rainforest in the world and is often called “the lungs of the planet.” The lush green landscapes are pivotal to helping combat climate change and controlling greenhouse gas emissions.
“This collaboration allows the cryptocurrency technology to not only offset but reverse its harm to the environment so that the net impact is positive for everyone,” said Real Nifty CEO Shi Wen Li in a press release.
In other news, Real Nifty has recently launched an NFT minting service that allows anyone to create an NFT for the things they want to buy.