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Mark PierceRSS Feed of this column.

Retired geologist and earth scientist, specialising in ore deposits and isotope geochemistry. Before retirement, I led the Australian government's pre-competitive geoscience programs for minerals... Read More »

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Gauging The Environmental Impact Of NFTs

Gauging The Environmental Impact Of NFTs

Apr 28 2021 | comment(s)

Artwork is one of the newest purchasable commodities on the crypto market, thanks to a new technology known as non-fungible tokens (NFTs). NPR informs us that an NFT is a crypto token that isn't interchangeable but is tied to a specific commodity. The easiest way to think about them is an analog to how they're being used. For the first time in its history, blockchains can be used to hold and trade collectibles. Yet, the trade of these collectible tokens brings with it some alarming environmental concerns.

Tons of Power Consumption