{"id":44737,"date":"2022-04-15T11:32:38","date_gmt":"2022-04-15T15:32:38","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=44737"},"modified":"2022-04-15T11:32:38","modified_gmt":"2022-04-15T15:32:38","slug":"nfts-deep-carbon-footprint","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2022\/04\/nfts-deep-carbon-footprint\/","title":{"rendered":"NFTs\u2019 Deep Carbon Footprint"},"content":{"rendered":"<div id=\"attachment_44739\" style=\"width: 296px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/04\/640px-British_museum_entrance.jpg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-44739\" class=\"wp-image-44739\" src=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/04\/640px-British_museum_entrance-300x225.jpg\" alt=\"The exterior facade of the British Museum in London, which is now minting NFTs of their collection\" width=\"286\" height=\"214\" srcset=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/04\/640px-British_museum_entrance-300x225.jpg 300w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/04\/640px-British_museum_entrance.jpg 640w\" sizes=\"(max-width: 286px) 100vw, 286px\" \/><\/a><p id=\"caption-attachment-44739\" class=\"wp-caption-text\">The British Museum<\/p><\/div>\n<p><span data-preserver-spaces=\"true\">Many have hailed non-fungible tokens (NFTs) as the future of art and art collecting. But there are just as many who astutely highlight some of the drawbacks.\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/rehs.com\/eng\/2021\/12\/nfts-newest-scammers-tool\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">I\u2019ve previously written<\/span><\/a><span data-preserver-spaces=\"true\"> about how the technology behind NFTs can make it easier for scammers to sell digitized artworks without the original creator\u2019s permission. There\u2019s also the budding NFT collector culture that rewards a lack of creativity, with monkeys, lions, or other animals generated and customized by computer code rather than anything resembling a creative process. But not many people are talking about the real-world impact of NFTs, namely the environmental cost. And more people were made aware of that when it was reported that the British Museum used up nearly sixty years\u2019 worth of power just on their NFT project.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Because the British Museum is a public institution, it doesn\u2019t take a Bob Woodward-level of investigation to find out about this. Partnering with the digital arts organization LaCollection, the British Museum has minted over two thousand NFTs to date. They are mainly\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.theartnewspaper.com\/2022\/02\/09\/the-british-museum-demeans-itself-by-selling-its-works-as-nftsand-will-probably-live-to-regret-it\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">digitized versions of their collection highlights<\/span><\/a><span data-preserver-spaces=\"true\">, like the paintings of J.M.W. Turner. But while some critics will liken an NFT to a very expensive JPEG image, one of the main differences is that NFTs take so much more computer power to mint and exchange. Experts in cryptocurrency and NFTs estimate that, on average, a single transaction, a single change to the blockchain, uses up enough electricity to emit around 330 lbs. of carbon dioxide. This is around the same amount the average American home uses over nine days. Adding everything up, the British Museum and their partners have used up enough electricity to put out 348 tons of carbon dioxide into the atmosphere, enough to power that same home for fifty-seven years. But some estimates say the emissions are much higher, around 900 tons. While LaCollection has promised to plant one tree for every NFT it mints, that won\u2019t exactly provide much of a counterbalance. The average tree does absorb about one ton of carbon dioxide over one hundred years. Not exactly the pressing sort of solution we all need right now, I would think. Similarly, NFT artists like Mike Winkelmann, also known as Beeple, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.theverge.com\/2021\/3\/15\/22328203\/nft-cryptoart-ethereum-blockchain-climate-change\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">promised<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0to invest in renewable energy and conservation projects. Environmentally-conscious artists not involved with NFTs, like\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/willowsquest.carrd.co\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Ashley Grace<\/span><\/a><span data-preserver-spaces=\"true\">, are very pessimistic about these attempts at balance, calling them an \u201c<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/willowsquest\/status\/1369403180266700801?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1369403180266700801%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fecological-nightmare-backlash-forces-artstation-to-drop-nft-plans\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">ecological nightmare pyramid scheme<\/span><\/a><span data-preserver-spaces=\"true\">\u201d.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The British Museum does have a sustainability policy, but it is still a relic from 2007. It promises \u201cthe elimination or reduction of any detrimental impact that [the museum\u2019s] activities might have on the environment.\u201d With the current pandemic placing a financial strain on many major art institutions, places like the British Museum will auspiciously forget or possibly just flat-out ignore their previous promises. While the need for funds is understandable, this has not stopped other British art institutions from cutting off ties with environmentally-harmful practices and organizations, like the National Portrait Gallery\u2019s\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/rehs.com\/eng\/2022\/02\/this-months-great-british-break-up\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">severing ties with British Petroleum<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0in February. On the other hand, the British Museum has gone whole-hog into the NFT world, and they have continually balked at cutting ties with BP. Thankfully, some in the cryptoverse advocate moving cryptocurrency-mining and NTF-minting computers onto grids powered by renewable sources. There\u2019s also some support for changing NFTs from being backed by Ethereum cryptocurrency to something that consumes less energy and is a little more sustainable. While these ideas have been floating around for a bit, they\u2019re still just ideas. And it can sometimes be excruciating to remind some people that while NFTs and bitcoin are intangible things, the Earth is very much real.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many have hailed non-fungible tokens (NFTs) as the future of art and art collecting. But there are just as many who astutely highlight some of the drawbacks.\u00a0I\u2019ve previously written about how the technology behind NFTs can make it easier for &hellip; <a href=\"https:\/\/rehs.com\/eng\/2022\/04\/nfts-deep-carbon-footprint\/?contemporary=N\">More&#8230;<\/a><\/p>\n","protected":false},"author":6,"featured_media":44739,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[150,65,536,386,32],"class_list":["post-44737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-galleries","category-rehs-contemporary","tag-19th-century-british-art","tag-museums","tag-nft","tag-tales-from-the-dark-side","tag-the-dark-side"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NFTs\u2019 Deep Carbon Footprint - Rehs Galleries<\/title>\n<meta name=\"description\" content=\"Many have hailed NFTs as the future of art. 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