July 24, 2021

Nifty News: NFTs go carbon-negative, top banker calls NFT investors gamblers

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The non-fungible token rush has seen every man and his Doge flock to the non-fungible market to cash in on the recent craze for tokenized collectibles. Even celebrities one would presume to have little engagement with crypto assets have been rushing to cash in, with the likes of John Cleese, Tony Hawk, Lindsay Lohan and Ja Rule cobbling together NFTs of varying artistic merit in recent months.

However, surging NFT adoption has led to public backlash over the perceived carbon footprint associated with crypto asset technologies.

Nifty Gateway pledges to go carbon-negative

NFT platform Nifty Gateway announced on March 29 that it has plans to become carbon-negativein the near future.

In a post shared on the website of Nifty investor Gemini, the platform’s co-founders announced plans to calculate Nifty Gateway’s carbon emissions over time and purchase twice as many carbon offsets at the end of each month — theoretically making Nifty a net remover of carbon overall.

While the post acknowledged the environmental concerns regarding NFT proliferation,Title: Nifty News: NFTs go carbon-negative, top banker calls NFT investors gamblers
Sourced From: cointelegraph.com/news/nifty-news-nfts-go-carbon-negative-top-banker-calls-nft-investors-gamblers
Published Date: Tue, 30 Mar 2021 08:54:23 +0100