The “Dune” NFTs spark criticism of Ethereum’s environmental impact

Loading...
Advertisements

Legendary Pictures will release NFT collectibles based on the new Dune movie on the Ethereum-based MakersPlace platform.
The announcement received criticism due to Ethereum’s environmental impact, especially given Dune’s main argument. Released in 1965, Herbert’s novel is in fact considered one of the greatest science fiction novels of all time and has even been praised as a “pioneer of climate fiction”. Environmentalism is a primary theme of the epic saga, which spans multiple books, as it explores the ecological impact of people.

In the midst of this year’s NFT market explosion, which generated $ 2.5 billion in total transaction volume in the first half of 2021, Ethereum’s environmental impact has received closer scrutiny. Ethereum currently runs on a consensus model called proof of work, based on a resource-intensive “mining” approach, in which powerful computers on the network compete to be the first to validate transactions and earn cryptocurrency rewards.

According to some estimates, the distributed network that powers Ethereum uses about the same amount of energy every year as the Czech Republic. However, proponents of the crypto industry have questioned the methodology of such estimates, or argue that cryptocurrency mining incentivizes cryptocurrency mining. use of renewable energy.

Legendary Pictures, which also launched NFT around the Godzilla vs. Kong this spring will purchase compensation for the Dune NFT project. “We want to assure everyone that the Dune: Future Artifacts Collection will be offset using Aerial, a sustainability platform that calculates carbon emissions based on associated energy consumption,” the company tweeted.

Loading...
Advertisements

Ethereum is set to undergo a network transformation dubbed Ethereum 2.0, which will see the blockchain platform move to a more energy efficient platform. With this approach, Ethereum will no longer need super-powerful computers to perform arbitrary work to verify transactions, and The Ethereum Foundation estimates that the new network will consume 99.95% less power as a result. Ethereum 2.0 is expected to be launched in the first half of 2022.

Loading...
Advertisements

Leave a Comment