NFTs have changed the digital art scene, but what few people know about them is the impact these devices have on the environment. Like any electronic resource that requires constant access to the Internet and energy, these Non-Functional Tokens also emit carbon and greenhouse gases into the environment. The acceleration of ocean acidification and the resurgence of global warming are some of the problems that the energy consumption of these technologies has on nature.
Mining for a year cryptocurrencies (cipher used in buying and selling NFTs) like Ethereum and Bitcoin can have annual energy consumption greater than that of a small country like Argentina, a Cambridge University study published in 2021 pointed out. To better understand how this technology impacts the environment, we talk about five problems of these non-fungible tokens on nature and climate.