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Are NFTs Killing our Planet? The Darkside of NFT Explained

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NFT

NFTs have exploded in popularity since the beginning of 2020. With the astounding rise in sales by 1,700% between December 2020 and February 2021, the newest tech sensations have led many artists to earn millions over the auction of a single picture.

However, there is a dark side to these digital assets. NFTs may be the future of digital art – but they are putting our planet’s future in grave danger.

So, what are NFTs? Are they bad for the environment? What makes them so dangerous for the planet? And, is there a future for green NFTs?

What are NFTs?

NFTs are being heralded as the next big thing in the high-growth crypto investing world. These tokens, which are seen as the digital equivalent of collectibles, have already attracted millions of dollars in investments in a range of NFTs and NFT-related enterprises. 

But, what exactly is NFT?

The idea of cryptocurrency is that each unit of the currency is interchangeable. They are all identical and worth the same amount; therefore, they are known as a fungible tokens. NFTs, on the other hand, are Non-Fungible Tokens.

An NFT is an information stored on a ledger maintained by a distributed network. However, each NFT is different from one another; therefore, not interchangeable.

My Trap Card NFT (which was sold for $17,000)
My Trap Card NFT (which was sold for $17,000)

NFTs (non-fungible tokens) are gaining traction in the digital world, and they may take the shape of artwork, music, metaverse real estate, and even selfies. They provide new ways for artists to profit from their work, as well as a means for purchasers to support creators while also gaining the bragging rights of having exclusive content. However, they have faced criticism for their environmental impact.

But, what makes NFTs bad for the environment?

Are NFTs Bad News For The Environment?

Yes, NFTs have a devastating impact on the planet. And one of the primary perpetrators behind NFT’s environmental impact is mining. Mining is a procedure that uses enormous processing power and energy to solve complicated mathematical problems to ‘mint’ an NFT on the blockchain and hand over the ownership to the buyer.

Ethereum, an open-source blockchain, is the most popular marketplace for NFTs. To construct these digital assets, Ethereum employs a purposeful inefficient ‘Proof of work‘ (PoW) approach.

Powerful computers can try an infinite number of new block creations each second. And the first miner to find the solution is rewarded with their unique assets, which are then added to the blockchain.

However, the puzzle becomes even more complex as more money fuels the NFT industry and more computers join the race to solve the problems. To stay competitive, miners constantly need to upgrade to higher computing power, large warehouses, and more powerful cooling systems. Thus boosting the carbon footprint.

Take, for example, Space Cat,‘ a GIF NFT of a cat traveling to the moon in a rocket. According to Crypto Art, the Space Cat’s carbon footprint is the same as an EU resident’s electrical usage for two months.

Finding the Worst Offender of Carbon Footprint

Given a sequence of steps involved and little to no research in determining the emission during each stage; finding out the actual carbon footprint of each NFT is challenging.

However, we know that Ethereum is one of the most carbon-intensive NFT platforms. Thus any digital asset purchased through it would have a significant carbon footprint.

Unfortunately, most NFTs today are stored in the Ethereum blockchain that operates on a proof-of-work (PoW) model. Digital Artist Akten examined the carbon emission of 18,000 NFTs and discovered that an average digital asset uses energy equivalent to a month’s worth of power consumed by an EU resident.

The PoW system of Ethereum consumes over 31 terawatt-hours (TWh) of power every year, an approximate equivalent to the annual energy usage of Nigeria.

“Since NFTs are getting mainstream, more people are transacting on Ethereum. As long as proof-of-work still exists in that chain, the environmental impact is still high,”

Angeline Viray, a trader and investor in NFTs and cryptocurrencies

Is Proof of Stake (PoS) Model the Way to Green NFTs?

Thre are two widely used blockchain consensus for cryptocurrency and NFT that ensures the legitimacy of the transaction on the network:

  • Proof of Work (PoW)
  • Proof of Stake (PoS)

While most networks today operate on a power-intensive PoW model where miners are rewarded for solving a combination of ‘digital locks,’ PoS might be the future of green NFT and the crypto industry.

PoS is when a validator (a person in charge of validating a transaction on a blockchain) holds a portion of their crypto holdings as collateral (stake). The system periodically awards one of the validators with the ability to produce the next ‘block’ in the blockchain.

However, there are still a lot of hurdles for PoS to become the primary consensus tool of the blockchain networks.

For one thing, shifting to the PoS model while maintaining functionality is quite challenging for blockchain. Furthermore, because specific systems favor validators willing to gamble the largest amount of stake on the line, the process may drift towards centralization (opposite to the core of blockchain tech, i.e., decentralization). Moreover, the consensus is yet to prove its security as PoW already has.

Ethereum, on the other hand, claims to have made progress toward a proof-of-stake paradigm. According to Tim Beiko, the coordinator for Ethereum’s protocol developers, the ultimate transition will minimize Ethereum’s environmental effect by 99 percent.

NFT Industry Towards a Cleaner Future

The energy consumed in generating and operating NFT platforms is enough to power large countries like Argentina and Nigeria. But should this really be prioritized when so many people worldwide still lack access to dependable power while many are already suffering from the consequences of climate change?

However, the bright side is that the crypto and NFT industries are now marching toward a more environment-friendly future. Furthermore, there does seem to be a push in the crypto industry for more sustainability. Therefore, from the current trajectory, we can expect to see an increase in renewable energy and a steep reduction in emissions in the near future.

https://mzemo.com//2021/06/27/cryptocurrency-sustainability-or-a-climate-calamity/

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To the peoples of the world: Israel is Carrying out a holocaust against Palestinian families

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Israel is carrying out a holocaust against Palestinian families.

Yes, Israel is not sending Palestinians to gas chambers. But Israel is bringing Auschwitz and Mauthhausen to Palestinian homes, neighborhood, hospitals and mosques.

The title of this brief article is not a hyperbole or a dramatic overstatement meant to attract attention or gain sympathy. It is rather a reflection of reality.

Indeed, if a holocaust is about annihilating people, especially civilians and Palestinian families, the Israeli army, the Wehrmacht of our time, has been exterminating entire Palestinian families-the father, the mother and all the children.

We are not speaking about one isolated incident or a few incidents where one stray missile hit a home inadvertently or children killed as a result of collateral damage.

We are rather talking about carrying out a real holocaust against Palestinian families, an official policy endorsed and pursued by the government of Israel to wipe out numerous Palestinian households for the purpose of bringing the Palestinians to their knees.

This is Israel’s way of wreaking shock and awe on the defenseless and helpless Palestinians.

So far, more than 25 thousand entire Gaza households have been targeted by Israeli bombing. More than 12 thousands have been killed half of them are children and women.

Just imagine your own family being annihilated by a missile launched from high altitude. This nightmare has effectively become a routine experience in Gaza.

Read Also: World passively watching as Israel perpetrates open-ended massacre in Gaza

Israel today is emulating the Nazis and other criminal offenders throughout history. Don’t invoke the mantra of anti-Semitism. In the final analysis, when Jews think, behave and act like the Nazis thought, behaved and acted, they (the Jews) become Nazis themselves, pure and simple.

Yes, I do recognize there are many kind-hearted Jews who reject this Nazi-like savagery. None the less, we must call the spade a spade. These atrocities are being enthusiastically supported by the vast majority of Israelis, including ordinary people, intellectuals and rabbis. Israel-2023 does have much in common with Nazi-Germany. Claiming otherwise would be both dishonest and malicious.

Real holocaust

Israel, a notorious professional liar whose agents control western media outlets from Sydney to California, is misleading the international community as to what is really happening in the Gaza Strip.

A regional military superpower thanks to unrestricted American backing and support, Israel is simply waging a war of extermination against a thoroughly persecuted people whose only “crime” is its enduring vigor and longing for freedom from the shackles of Talmudic Jewish Nazism, a Satanic ideology which views all humanity-save Jews-as animals whose lives have absolutely no sanctity.

There is no doubt that the ongoing Israeli rampage of murder and terror is an expression of that genocidal Talmudic mentality. It is a mindset that is even more nefarious than the Nazi ideology.

We Palestinians have been at the receiving end of Jewish criminality and murderousness for several decades. We know it too well and need no one to give us lectures on “Israel’s civility and humanity”

In the final analysis, a country that murders thousands of children and other innocent civilians rather knowingly and deliberately in order to create deterrence is neither civilized nor humane. It is tantamount to fornicating with truth to call Israel humane and civilized.

The truth of the matter is that Israel is a diabolical Judeo-Nazi entity that has much in common with the Third Rich.

Yes, Israel is not sending Palestinians to gas chambers. But Israel is bringing Auschwitz to Palestinian homes, neighborhoods and streets. Israel is carrying out a real holocaust against innocent Palestinian families.

This is not really a war. War is fought between armies. The Palestinians don’t have an army, or navy or air force. The Palestinians simply can not protect their own children from overwhelming barbarianism, played out in full view of the entire world.

Read Also: Hamas: A convenient red herring for Jewish Nazism

Yes, there have been projectiles fired on Jewish colonies from the Gaza Strip, but these projectiles are essentially innocuous from the military view point as evident from the nearly zero casualties incurred by Israelis.

Indeed, when there is one dead on one side and 300 on the other side, including 50 children and babies, in addition thousands of maimed civilians and swathes of pornographic destruction of property, we are not really talking about war, even an asymmetrical war. We are actually talking about a real massacre, a massacre that is reminiscent of the time when the Nazis ganged up on European Jewry 70 years ago.

This very real massacre, holocaust, wouldn’t have been carried out had it not been for the flaccidity and leniency and silence displayed in Israel’s face by the bulk of the international community.

This is not to mention the connivance, collusion and conspiratorial roles played by several criminal states and governments, including the United States, a majority of European governments and especially the whore-like Sissi regime in Cairo which is shamelessly and brazenly siding with Israel against the Palestinian people.

But never mind, another massacre, another blitzkrieg, another conspiracy won’t finish our people off. It is our kismet that we must die in order to survive.

But those in Washington and London and Cairo who are watching rather passively, probably gleefully, as our children are being incinerated and murdered at the hands of the children, grand children and great-grand children of the holocaust, will one day pay the price for their murderous complicity and ignominy.

We will not forgive or forget.

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Israel: A criminal state par excellance

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Israel: a criminal state par excellance

In its exaggerated self-infatuation and excessive narcissism, Israel, a criminal state par excellence, often claims it is light upon mankind.

Zionist Jews, who falsely claim allegiance to the prophetic traditions of ancient Israel, are actually mostly atheists.

In fact, Zionism has more in common with the most infamous paragons of evil throughout history than with such Hebrew luminaries as the Prophet Moses, Aaron, Jacob, Joseph, David, and Solomon.

Indeed, ever since its misbegotten birth in 1948, a birth fraught with crimes against humanity, Israel’s modus operandi has been an uninterrupted series of atrocities, oppression, persecution, inequity, and racism.

Thus, Israel, A criminal state par excellence, is also a great falsifier of truth, history by claiming a higher moral ground vis-à-vis the Palestinians, its largely-unwept victims who are still crying to the seventh heaven for justice.

Also read: Israel should stop trying to force-feed the Holocaust down people’s throats  as bloody repression of Palestinians  goes on unabated

Israel is already starving and tormenting 1.6 million Gazans, denying them food, clean water, and other necessities of life. The 17-year draconian siege is apparently meant to punish Gazans for electing Hamas which simply refuses to recognize Israel for religious and moral reasons. The international community  sought to overlook Israel’s  real crimes against humanity inflicted repeatedly  on  some two million helpless Palestinians languishing under a N-a-z-i-like siege imposed and maintained by Israel.

Israel portrays herself as a beacon of light in a sea of dictatorship, tyranny, and oppression,

What Israel, a criminal state par Excellance, refuses to tell the world, however, is the fact that the Jewish state through its ubiquitous tentacles in America, Europe and elsewhere to enable, shield, sustain, and support tyrannical regimes in the region such as the Sissi police state in Egypt, the feudal regimes in Saudi Arabia, UAE and Bahrain.

Israel, a notorious professional liar whose agents control western media outlets from Sydney to California, is misleading the international community as to what is really happening in Jerusalem and in the Gaza Strip.

Read Also: Is anti-Semitism essential for the survival and growth of Zionism and Jewish peoplehood?

Israel, ruled by supremacist and megalomaniac Jews who think that no country or entity under the sun has a right to criticize Israel’s appalling maltreatment of the Palestinians, believes it has an unending free season on its victims.

Those are the Nazi-minded ideologues who are indoctrinated in Talmudic Jewish supremacy and who believe that the non-Jews lives have no sanctity , those are the Talmudic thugs who believe that the Palestinians must either be expelled or massacred .

As to its victims, Israel seeks always to demonize and dehumanize them so that the world will react indifferently if not callously when Israel murders them, expels them from their homes, steals their land and property as well as demolish their homes, a nearly daily callous practice the state of the Jews carries out in the West Bank.

Israel was born in sin. It will always be a sinful state, no matter what we read in the New York Times and the Washington Post or what we see on CNN and Fox News.

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World passively watching as Israel perpetrates open-ended massacre in Gaza

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The Israeli army, which can be called the Jewish Wehrmacht given its Nazi-like behavior, continues to pound the Gaza Strip from ground, sea and air. According to sources in Gaza, virtually all targets hit so far are civilians.

As many as 3500 Palestinians, virtually all of them civilians, have been reported killed so far. Thousands others were injured, many sustaining life-threatening wounds.

The scenes of mutilated and maimed children, some of whose bodies are seen protruding through the rubble of their homes, destroyed by missiles fired by American-supplied F-16 fighter jets, seem to verify the view that Israel is targeting Palestinian civilians in Gaza knowingly and deliberately.

Israeli leaders and military officials are openly gloating over the high death toll among Palestinian civilians. They blame Hamas for the orgy of killing. However, virtually all Palestinians don’t buy the Israeli logice.

Read Also: The US and Israel: The dog versus the wagging tail

As we all know, this is not the first time Israel indulges in such war crimes.

Israel has always been a regular perpetrator of war crimes . Indeed, one would exaggerate very little by arguing that Israel itself is a war crime or a crime against humanity.

I am not going to spend time refuting Israeli hasbara lies, blaming Hamas for the latest conflagration. Having been a vigilant observer of Israeli behavior for several decade , I can honestly argue that honesty and Israel can not really be used in the same sentence. Israel and honesty are an eternal oxymoron.

Read Also: The Myth of Israeli Democracy

As always, Israel violated the uneasy truce reached through Egyptian mediation in 2002. Israeli leaders, proceeding from the Talmudic ideology which views all non-Jews as lesser human beings or virtual animals, don’t feel bound by agreements or treaties reached with “Goyem.

People in the west, long duped and brainwashed by Zionist propaganda, may raise they eyebrows when reading these words. But we who live with these Judeo-Nazis and have been at the receiving end of their murderousness and evilness know better.

We don’t need and won’t accept lectures about the “humanity and civility” of the N-a-z-i-s of our time.

Hamas and other Palestinian resistance groups in Gaza don’t constitute an existential threat to Israel, which has one of the strongest military machines in the world.

Read Also: Hamas: A convenient red herring for Jewish Nazism

In fact, the claim that Gaza is threatening Israel is infinitely ridiculous. The thoroughly-starved and hermetically blockaded Gazans have a hard time feeding their children, let alone pose any meaningful threat to the N-a-z-i Germany of our time, a pugnacious state that more or less tightly controls the most powerful country under the sun, the United States.

It is sad and lamentable that a country of 320 million has allowed itself to be enslaved by Zionist pressure groups, hell-bent on prostituting America and eviscerating it of any semblance of morality for Israel’s sake.

Palestinians have resist Jewish terror

But the Palestinians can not take their very survival for granted. They can’t rely on the so-called international community to shield them against Jewish N-a-z-i-s-m.

Indeed, if the Palestinians don’t defend themselves, who is going to defend them? Obama? Merkel? Or Puten?

Hence, the valiant Palestinian determination to put up a semblance of resistance to the Jewish Wehrmacht. The Israeli assault on Gaza is not an assault on Hamas; It is rather a nefarious aggression against the entire Palestinian people. It is intended to break our people’s will to resist Israeli Nazism. Pure and simple.

To put the matter in a nutshell, the Palestinians in Gaza are simply defending themselves against an overwhelming evil force that is hell bent on ethnically cleansing them and stealing their motherland. Our fighters don’t fire their home-made missiles on Israel because they want to spill Jewish blood. They do it because this is the only means they possess to deter a cannibalistic enemy that can only feel good if and when it spills Palestinian blood.

Besides, the problem with Israel didn’t begin last week or last year.

Just remember that many of the people being now bombarded and murdered by the Jewish Wehrmacht are actually children, grand children and great grand children of the original Palestinian refugees that Israel massacred or brutally expelled out of their homes when the evil state was created in Palestine in 1948.

Hence, the Palestinians in Gaza can not really be terrorists if only because they were never the initiator of violence and terror. The Palestinians were living peaceably in their towns and villages, mostly leading a simple pastoral life until waves of Khazari Jews, who had no real connection with the ancient Israelites, invaded Palestine with the aid of Western countries, especially the evil empire, the United Kingdome.

Yes, it was Britain that put the venomous Jewish snake in the bed of the Palestinian child. Britain, as Noam Chomsky wisely said, can not claim innocence or argue that it didn’t know the snake was so poisonous.

Gaza Massacre: Surviving by dying

Today, Palestinians are sacrificing their lives for their freedom, dignity and survival. This is what they have always been doing from time immemorial. We are very much children of martyrs who were themselves children of martyrs. We survived despite a harsh history of plots and conspiracies that aimed to eradicate us as a people from the face of earth.

We in Gaza will survive the latest Israeli blitz as well

However, the world community ought to feel ashamed for watching the Nazi Germany of our time gang up on a defenseless people in Gaza whose only crime is that it is not part of “the holy tribe,”

This conspicuously immoral world , which doesn’t respect any modicum of respect, will surely have a precarious future. It will face ultimate demise.

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