{"id":415921,"date":"2022-03-14T15:23:18","date_gmt":"2022-03-14T12:23:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/amid-nft-boom-artists-worry-about-climate-costs\/"},"modified":"2022-03-14T15:23:18","modified_gmt":"2022-03-14T12:23:18","slug":"amid-nft-boom-artists-worry-about-climate-costs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/amid-nft-boom-artists-worry-about-climate-costs\/","title":{"rendered":"#Amid NFT boom, artists worry about climate costs"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a34ba1993adb\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a34ba1993adb\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/amid-nft-boom-artists-worry-about-climate-costs\/#%E2%80%9CAmid_NFT_boom_artists_worry_about_climate_costs%E2%80%9D\" >&#8220;Amid NFT boom, artists worry about climate costs&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CAmid_NFT_boom_artists_worry_about_climate_costs%E2%80%9D\"><\/span>&#8220;Amid NFT boom, artists worry about climate costs&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<div class=\"article-gallery lightGallery\">\n<div data-thumb=\"https:\/\/scx1.b-cdn.net\/csz\/news\/tmb\/2022\/amid-nft-boom-artists.jpg\" data-src=\"https:\/\/scx2.b-cdn.net\/gfx\/news\/2022\/amid-nft-boom-artists.jpg\" data-sub-html=\"South African artist vonMash with a print of one of his pictures. He is interested in NFTs\u2014digital work that gives artists a share of resale profits\u2014but worries about the environmental cost.\">\n<figure class=\"article-img\">\n            <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/scx1.b-cdn.net\/csz\/news\/800a\/2022\/amid-nft-boom-artists.jpg\" alt=\"Amid NFT boom, artists worry about climate costs\" title=\"South African artist vonMash with a print of one of his pictures. He is interested in NFTs\u2014digital work that gives artists a share of resale profits\u2014but worries about the environmental cost.\" width=\"800\" height=\"530\"\/><figcaption class=\"text-darken text-low-up text-truncate-js text-truncate mt-3\">\n                South African artist vonMash with a print of one of his pictures. He is interested in NFTs\u2014digital work that gives artists a share of resale profits\u2014but worries about the environmental cost.<br \/>\n            <\/figcaption><\/figure>\n<\/p><\/div>\n<\/div>\n<p>Digital art is nothing new to vonMash, who describes his blend of painting, video and sound as &#8220;afro-delic&#8221;\u2014a psychedelic twist on Afrofuturism.<\/p>\n<p>                                                                                But when the South African started thinking about selling his work as crypto-art on a blockchain, he hesitated.<\/p>\n<p>&#8220;I&#8217;m not fully for it because of the energy consumption that it takes,&#8221; he explained.<\/p>\n<p>Selling art as non-fungible tokens, or NFTs, uses the same <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> as crypto-currencies like Bitcoin. The buyer receives a verified digital token, which proves the artwork is an original.<\/p>\n<p>The boon for artists is that if their work goes up in value and is resold, they receive a portion of every future sale.<\/p>\n<p>&#8220;If another person buys my NFT, I automatically get a share of that,&#8221; vonMash said. With traditional art, if a buyer pays 100 dollars, and then &#8220;sells it for 100,000, I would not get a cent of that.&#8221;<\/p>\n<p><b>Warehouse of computers<\/b><\/p>\n<p>What worries vonMash and other artists is how those digital tokens get verified.<\/p>\n<p>Ownership of the artwork is authenticated through complex mathematical puzzles\u2014so complex that the calculations require warehouses of computers.<\/p>\n<p>Companies who solve the puzzles get rewarded with new tokens, and their solutions add a &#8220;block&#8221; to the chain of the authentification.<\/p>\n<div class=\"article-gallery lightGallery\">\n<div data-thumb=\"https:\/\/scx1.b-cdn.net\/csz\/news\/tmb\/2022\/bitcoin-mine-at-a-ware.jpg\" data-src=\"https:\/\/scx2.b-cdn.net\/gfx\/news\/2022\/bitcoin-mine-at-a-ware.jpg\" data-sub-html=\"Bitcoin mine: At a warehouse in Rockdale, Texas computers crack blockchain puzzles to create more of the virtual currency.\">\n<figure class=\"article-img text-center\">\n            <img decoding=\"async\" src=\"https:\/\/scx1.b-cdn.net\/csz\/news\/800a\/2022\/bitcoin-mine-at-a-ware.jpg\" alt=\"Bitcoin mine: At a warehouse in Rockdale, Texas computers crack blockchain puzzles to create more of the virtual currency\"\/><figcaption class=\"text-left text-darken text-truncate text-low-up mt-3\">\n                Bitcoin mine: At a warehouse in Rockdale, Texas computers crack blockchain puzzles to create more of the virtual currency.<br \/>\n            <\/figcaption><\/figure>\n<\/p><\/div>\n<\/div>\n<p>The number-crunching requires vast amounts of energy, often produced by coal-power electricity plants.<\/p>\n<p>Most NFTs are currently traded on a platform on a called Ethereum. Tech watchdog Digiconomist estimates that Ethereum uses as much electricity as all of the Netherlands, with a carbon footprint comparable to Singapore&#8217;s.<\/p>\n<p>&#8220;The energy it takes for the proof of authentication for the artwork, it&#8217;s so much,&#8221; vonMash said.<\/p>\n<p>He has reason to worry.<\/p>\n<p>Climate concerns have sparked a backlash against NFTs.<\/p>\n<p>K-pop fans in South Korea last year staged a brutal campaign against plans for popular groups include BTS and A.C.E. to sell crypto-art.<\/p>\n<p>&#8220;Essentially NFTs are a giant environment-destroying pyramid scheme,&#8221; read a widely retweeted comment from @ChoicewithACE typical of comments that prompted the group to cancel their offering.<\/p>\n<div class=\"article-gallery lightGallery\">\n<div data-thumb=\"https:\/\/scx1.b-cdn.net\/csz\/news\/tmb\/2022\/blockchain-calculation.jpg\" data-src=\"https:\/\/scx2.b-cdn.net\/gfx\/news\/2022\/blockchain-calculation.jpg\" data-sub-html=\"Blockchain calculations require huge amounts of electricity, which comes mostly from burning coal, oil or gas, accelerating the planet's climate crisis.\">\n<figure class=\"article-img text-center\">\n            <img decoding=\"async\" src=\"https:\/\/scx1.b-cdn.net\/csz\/news\/800a\/2022\/blockchain-calculation.jpg\" alt=\"Blockchain calculations require huge amounts of electricity, which comes mostly from burning coal, oil or gas, accelerating the \"\/><figcaption class=\"text-left text-darken text-truncate text-low-up mt-3\">\n                Blockchain calculations require huge amounts of electricity, which comes mostly from burning coal, oil or gas, accelerating the planet&#8217;s climate crisis.<br \/>\n            <\/figcaption><\/figure>\n<\/p><\/div>\n<\/div>\n<p>BTS&#8217;s music label Hybe decided to postpone their launch, looking for greener alternatives.<br \/>\n                                            <!-- Google middle Adsense block --><\/p>\n<p>In South Africa, environmentalism is an unquestioned article of faith among many artists.<\/p>\n<p>One collective called The Tree created a platform for artists to sell NFTs, and then collaborate with a Cape Town charity called Greenpop to plant trees to offset the carbon emited from the crypto-art sales.<\/p>\n<p><b>Evolving world<\/b><\/p>\n<p>Fhatuwani Mukheli said that system made him feel confident about the two NFT sales he&#8217;s already made.<\/p>\n<p>&#8220;The world is constantly evolving,&#8221; he said. &#8220;If I just hold on to what I know, then the bus is going to miss me.&#8221;<\/p>\n<p>For vonMash, the solution was not to sell on Ethereum, but to place his art on a platform called Cardano, which uses a different authentication system.<\/p>\n<p>Rather than have companies solve ever-harder puzzles, Cardano uses a mechanism called &#8220;proof of stake&#8221;.<\/p>\n<div class=\"article-gallery lightGallery\">\n<div data-thumb=\"https:\/\/scx1.b-cdn.net\/csz\/news\/tmb\/2022\/vonmash-says-he-has-tu.jpg\" data-src=\"https:\/\/scx2.b-cdn.net\/gfx\/news\/2022\/vonmash-says-he-has-tu.jpg\" data-sub-html=\"vonMash says he has turned to a more environmentally-friendly authentication system called Cardano to sell his NFTs.\">\n<figure class=\"article-img text-center\">\n            <img decoding=\"async\" src=\"https:\/\/scx1.b-cdn.net\/csz\/news\/800a\/2022\/vonmash-says-he-has-tu.jpg\" alt=\"vonMash says he has turned to a more environmentally-friendly authentication system called Cardano to sell his NFTs\"\/><figcaption class=\"text-left text-darken text-truncate text-low-up mt-3\">\n                vonMash says he has turned to a more environmentally-friendly authentication system called Cardano to sell his NFTs.<br \/>\n            <\/figcaption><\/figure>\n<\/p><\/div>\n<\/div>\n<p>Instead of earning new tokens by solving puzzles\u2014and gobbling up electricity\u2014users can simply pony up tokens they already have.<\/p>\n<p>Essentially, they&#8217;re using their money in the form of crypto-currency to vouch for the authenticity of a digital artwork.<\/p>\n<p>If someone tries to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> the system, or simply makes a mistake, they could lose their financial stake in the network.<\/p>\n<div class=\"article-gallery lightGallery\">\n<div data-thumb=\"https:\/\/scx1.b-cdn.net\/csz\/news\/tmb\/2022\/the-worlds-first-nft-v.jpg\" data-src=\"https:\/\/scx2.b-cdn.net\/gfx\/news\/2022\/the-worlds-first-nft-v.jpg\" data-sub-html=\"The world's first NFT vending machine, which opened in New York last month. The customer chooses an NFT and buys it with a credit or debit card. The machine then dispenses a box with a unique code inside for the NFT.\">\n<figure class=\"article-img text-center\">\n            <img decoding=\"async\" src=\"https:\/\/scx1.b-cdn.net\/csz\/news\/800a\/2022\/the-worlds-first-nft-v.jpg\" alt=\"The world's first NFT vending machine, which opened in New York last month. The customer chooses an NFT and buys it with a credi\"\/><figcaption class=\"text-left text-darken text-truncate text-low-up mt-3\">\n                The world&#8217;s first NFT vending machine, which opened in New York last month. The customer chooses an NFT and buys it with a credit or debit card. The machine then dispenses a box with a unique code inside for the NFT.<br \/>\n            <\/figcaption><\/figure>\n<\/p><\/div>\n<\/div>\n<p>The underlying technology can be confusing, but <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> impact consultant Candida Haynes said &#8220;the short story is that there are less environmentally hazardous options for NFTs.&#8221;<\/p>\n<p>&#8220;Ultimately, blockchain developers have to also engage with sustainability and help keep less technical folks, including artists, informed about the state of environmental sustainability in blockchains,&#8221; she said.\n                                                                                                                        <\/p>\n<hr\/>\n<div class=\"article-main__explore my-4 d-print-none\">\n<p>                                            Digital art in spotlight as Dubai makes crypto hub bid\n                                        <\/p><\/div>\n<hr class=\"mb-4\"\/>\n<p class=\"article-main__note mt-4\">\n                                                \u00a9 2022 AFP<\/p>\n<p>                                        <!-- print only --><\/p>\n<div class=\"d-none d-print-block\">\n<p>                                                 <strong>Citation<\/strong>:<br \/>\n                                                 Amid NFT boom, artists worry about climate costs (2022, March 14)<br \/>\n                                                 retrieved 14 March 2022<br \/>\n                                                 from https:\/\/techxplore.com\/<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>\/2022-03-nft-boom-artists-climate.html<\/p>\n<p>                                            This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no<br \/>\n                                            part may be reproduced without the written permission. The content is provided for information purposes only.<\/p><\/div>\n<\/p><\/div>\n<p><script id=\"facebook-jssdk\" async=\"\" src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more Like this articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/science\/\" target=\"_blank\" rel=\"noopener\">Science category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/techxplore.com\/news\/2022-03-nft-boom-artists-climate.html\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Amid NFT boom, artists worry about climate costs&#8221; South African artist vonMash with a print of one of his pictures. He is interested in NFTs\u2014digital work that gives artists a share of resale profits\u2014but worries about the environmental cost. Digital art is nothing new to vonMash, who describes his blend of painting, video and sound&#8230;<\/p>\n","protected":false},"author":1,"featured_media":415922,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/scx2.b-cdn.net\/gfx\/news\/2022\/amid-nft-boom-artists.jpg","fifu_image_alt":"","footnotes":""},"categories":[16],"tags":[],"class_list":["post-415921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sciencee"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/415921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=415921"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/415921\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/415922"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=415921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=415921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=415921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}