In a new partnership with BroccoliNetwork, NFT marketplace NFTrade is becoming ‘climate-positive’ by offsetting carbon emissions due to NFT transactions.
In a recent announcement on Twitter, NFTrade disclosed its partnership With BroccoliNetworks, a green metaverse project and tree-planting partner of NFTTrade, that promises to plant a tree for every user who wants to pay an additional $2.
Moving forward climate-positive?
Describing the initiative as a “climate-positive” move, the question of whether the feature will offset the carbon cost of the transaction going forward still remains.
“Right now it really depends on the chain,” NFTrade communications chief Harrison Seletsky told BeInCrypto.
“Some series are more climate intensive in terms of how much” [environmental] They have influence. For example, Ethereum is proof of work, so it is more intensive, but proof-of-stake chains like Avalanche and Binance Smart Chain have less impact. So when we’re calling this carbon offset, when we implement it with an avalanche it’s going to have a net positive effect that we’ll be saving more carbon energy than the actual transaction.
While Ethereum remains proof of work for now, the network has long-term plans to switch to proof of stake in the future, which should further improve the effectiveness of NFTrade’s treehouse efforts over time.
Responding to the critics?
Industry critics and outsiders may be forced to reconsider their position if NFTrade can help propel NFTs to a greener future, but Celetsky seems to be focusing more on what NFTs do. How carbon offsetting will improve the industry for the community.
“It is a great way to reach out to our community and show them that we are actively looking to solve these problems, it is not just about making money, it is about contributing to and improving this ecosystem. about,” he said.
This is not to say that Celetsky is afraid to defend the NFT industry when necessary. In December 2021 the communications chief argued that NFTs are already more environmentally friendly than the production of physical art. He confirmed that this is a point of view he still stands by.
At present, the carbon offset scheme is completely voluntary. Users who wish to offset their transaction costs can opt in and contribute $2 to the Broccoli Network, a green metaverse project and tree-planting partner of NFTrade.
With such a high lost cost-to-benefit ratio, we questioned why the scheme would remain voluntary rather than inherent in the market by default.
“We don’t want to necessarily impose it on people, we want it to be an option, especially in crypto we want users to maintain sovereignty,” he said. “By easing access with the click of a button, we think this is the right way to do it.”
The opt-in nature of the scheme means that NFTrade will be involved in an interesting experiment. By asking NFTrade users to contribute a small fee towards carbon offsetting, NFTrade will uniquely test the preferences of the industry and its users.
Seletsky says NFTrade hasn’t set any hard targets for adoption of its treehouse plan, but those adoption rates in the coming weeks and months will show just how much NFT users really care about the environment.
What did you think of this topic? Write to us and let us know!