NFTs, despite their bad reputation, can be a force for good

Crypto is like a double-edged knife. One good piece of news can be followed by ten negative reactions. It’s like being the parent to the hyperactive child in kindergarten. He breaks other children’s toys, bounces off walls like a demon, and you hate him. But you also know that he is a kind, thoughtful, and kind soul who will eventually find the cure for his disease. It’s finally something everyone can understand, even those who are not in finance or tech. Yesterday’s radio program featured a reviewer talking about Quentin Tarantino making NFTs from the pages of his Pulp Fiction script. Miramax is suing him, but the reviewer was positively salivating over the term NFT. She said that she’s not tech- or finance-oriented. NFTs are a mainstream topic. The Beeple sale (of $69 million at Christies in February) is still a big deal. It’s the same way that the OGs view the eye-watering 2017 Tezos ICO which raised $232m or BlockOnes massive twelve-month raise of $4billion the year after. These are the moments when crypto becomes a joke and crypto is mainstream news. But, the backlash has already begun. The issue of NFTs generating too much energy is very serious. If the use of energy to produce cryptocurrency is considered wasteful, then spending large amounts of energy to make NFTs of low resolution cartoon JPGs seems incredibly frivolous. This is a sort of “let them eat cake” moment in crypto history. NFTs can be viewed as a force for good once you have weighed the evidence. The Plane truthGaryNuttall is an emerging technology consultant at Distyltics and a recent finalist for the prestigious U.K. CryptoAM Education Awards. He is available to answer all your questions about crypto. He had just finished a webinar with bankers when I spoke to him. He is dressed in a shirt and a hoodie to impress the bankers, but he finds himself answering the same questions over and over again. I remind them that the U.S. is the country where most money laundering takes place. We still have a long way to go. Nuttall starts by addressing layer one blockchains and energy charges. Nuttall says that a block is produced on the Bitcoin blockchain every ten minutes. On Ethereum, it’s more like every 15 seconds. These blocks will be produced regardless of NFTs present onboard. The plane will go wherever there are empty seats. Lines in the sand – US Congress brings partisan politics to crypto November 29, 20,21 6 Questions for Lyn Alden Swartzer of Lyn Alden Investment StrategyNovember 28, 2021 Powers On…Why aren’t more law schools offering blockchain, DeFi, and NFTs education? November 24, 2021 Tim Drapers presents ‘odd’ rules for investing in success November 23, 20,21 6 Questions for Han Kao of Sanctor CapitalNovember 21, 2021 The CBEI published its latest findings in May 2021. They found that Bitcoin mining consumes 133.68 terawatt hours of electricity per year, which is consistent with the increase in the number of transactions. Digiconomist puts a single Ethereum transaction’s carbon footprint at 33.4kg CO2; each NFT that is minted or sold results in another transaction. These estimates indicate that a single NFT transaction will have a carbon footprint of more than 14 times the amount of mailing an art print. This is being addressed in the Ethereum ecosystem by layer-two solutions like a Polygon or the forthcoming move to Proof-of-stake with Eth2. However, for now, NFT marketplaces are plagued by high gas prices. Nuttall claims that the Bitcoin ecosystem accounts for the same amount as the Netherlands. This is quite a bit, when you consider that it consumes only half of the energy used by U.S. TVs. Imagine an electricity company operating a hydroelectric Dam. When they empty the water, they produce electricity which they sell back to themselves off peak at a low rate to refill the dam but sell onto the grid at a premium rate.I see the production of cryptocurrency as an alternative means of storing value its just that instead of it being water, its in a cryptocurrency.Nutall also uses the invention of the motor vehicle as a parallel to blockchains.Early cars were energy inefficient it takes time to improve and, too, with proof-of-work that is terribly inefficient. Innovations are coming. Proof-of-stake is computationally more efficient and uses less energy. Innovation is key to this and it is happening. Nutall has big dreams about NFTs supporting that innovation and reducing energy costs. He points out that distributed ledger projects are all based on traceability, provenance, and transparency, but it is incredibly manual as everything must be written to the Blockchain. NFTs, however, are a programmable layer over top of blockchains. They have a built-in digital representation that identifies ownership. This is a great advantage, but it also allows us to program in fees for the originator. We are currently at NFT 1.0, but we are quickly moving to 2.0 or 3.0, where NFTs might be more active, used to lock or access underlying assets. We are just at the tip of the iceberg right now.But even at this early stage, with most NFTs stored on Proof of Work chains, there are already plenty of projects out there looking to tap into this new technology to deliver benefits for humanity.Bricx Martillo Dumas’s winning entry.Climate changeDigitalArt4Climate was launched by the United Nations as part of the Year of Creative Economy for Sustainable Development. DigitalArt4Climate, a multistakeholder partnership initiative, turns art into digital assets. It is supported by UN Habitat and IAAI–Clocha with technology partner Unique.Network. This project brought together young people, climate problems, and technology to raise awareness about the issues. The project also included the storage of NFTs on a carbon neutral network called Unique Network. This was a key aspect. “Humanity Challenged by Climate Change” was also exhibited at COP26 in Glasgow. Bricx Martillo, a digital artist from the Philippines, won the art competition. Dumas stated, “This competition may be over, but our fight to protect climate justice is not over.” Religious artifactsReligious objects from the ancient PortugalsSanta Casa da Misericrdia de Lisboa museum were dropped on Artentik’s marketplace Dec. 1. These NFTs are based upon ancient religious paintings and relics of saints. The proceeds will go to Portugal’s largest charity, the SCML. This project bridges the gap between ancient and modern religions. Lines in the sand – US Congress brings partisan politics to crypto November 29, 20,21 6 Questions for Lyn Alden Swartzer of Lyn Alden Investment Strategy December 28, 2021 Powers On…Why aren’t more law schools offering DeFi, NFTs and blockchain courses? November 24, 2021 Tim Drapers’ ‘odd’ rules for investing in success November 23rd, 2021 6 Questions to Han Kao of Sanctor Capital November 21st, 2021 Pope Paul III receives St Francis Xavier, a painting from SCML’s collection. EOS legend Michael Blu, better known as MBlu, founded Music and Tree Planting Yoshidrops. MBlu was a former precious metal broker before he discovered cryptocurrencies. He is especially bullish on EOS. He made a lot of money trading cryptocurrency, but he also became philanthropic. After adopting a child from Haiti, he and his wife started fundraising for schools through his Uplift Nation platform (which later became UpliftArt). First #nft music video on #blockchain imagine the possibilities… Great article @kansai_krypto $wax @WAX_io @pinknetworkx @bytemaster7 @block_one_ @WilliamEQuigley $eos #EOSIO– mBlu (@mBluCrypto) August 2, 2020 He was an early convert to NFTs and created what he says is the worlds first full length NFT music video of his band called My Bitcoin Bull V. Subsequently, he launched YoshiDrops with a musical collaborator, Yoshi, which pairs musicians and artists together in drops which are bundled in a monthly subscription model. He supports both new and established artists on this platform, which also has a philanthropic component. Although it has taken some time, we are building a community. NFTs and NGOsThe AIBC conference was again held on the island of Malta in October. Orica, an ethical funding platform was launched during that event. It is a platform for digital creators and social impact projects. The AIBC conference was held again on the island of Malta in November. Orica, an ethical funding platform, was launched. In this case, “Blockchain Island” dollars were used to fund education for Ssese Island children living in Lake Victoria. Bbanga Project NGO collaborated in an NFT to build a school island of Bugala. A collection of NFTs inspired by Uganda were created by the NGO Bbanga Project and digital artist Mellowmann. These NFTs were approved by children from the Ssese Islands before being sold by Orica this week. These were approved by the Ssese Islands school children before being auctioned this week by Orica. Wed already built the main school hall on Bugala but then our funding dried up, explains Bbanga Project founder Sani Hayatbakhsh.Blockchain operations lead Danial Zey said two days after the launch that It looks like we will be able to reach the goal we set for the NGO we are working with. It is also due to Cointelegraph, which helped us share news about the school in Uganda, that I believe it is. Every Tuesday, the best of blockchain. Subscribe to Magazine for thoughtful explorations and leisurely readings. You agree to our Terms of Service. Leave this field empty if not human. Gaming and NFTsStephen Cutter is the founder and CEO of Wuji Games, which launched Earth Defender at COP26. His passion for saving the earth led him to create a project that combines NFTs, Natural Capital Accounting Principles and tree planting over the past ten year. I have been working with the earth since then. I believe that if you take care of your home, it will take care of us.Cutter uses the NFTs to provide a real-life twin tree to plant with his sustainable tree planting partners.At Wujigames you can play games, plant trees and earn NFTs.The project also aims to help protect wildlife through combining filmmakers, digital artists and technology.Cryptograph launched five official NFTs recently week from renowned filmmaker Kristian Schmidt and Pixar artist Andy Harkness. “Into The Wild” features five unique animal representations: Cheetah Reflection (another name for Cheetah), Annabelle and Lion (Miyavi & Eagle), Whale Shark Depth and Joiride. WildAid will benefit from the proceeds of the secondary market. The token holder also gets a 30-minute photo masterclass with Kristian and an exclusive photoshoot. Miyavi and Eagle by Kristian Schmidt and Andy Harkness. Serial blockchain and charity entrepreneur Duncan Murray has recently launchedAniseed,claiming to be the worlds first charity NFT marketplace where a percentage of every NFT sold goes directly to charitable projects.Currently, the charities associated with the platform are concentrated on the environment or emergency efforts. Murray will help an NGO or charity find a local artist if it doesn’t have one. However, Murray will use to locate geo-local artists. In phase two, we plan to link the NFT to a map to allow for tree planting or allow the owner to place their tree virtualy in a Metaverse. Aniseed is a carbon negative platform that has more than 200 metric tons in carbon offsets. A token code-named Acre is also planned. It will be backed with a real-world acre rainforest through Rainforest Trust, one of the partners. Editor in Chief Kristina Lucrezia Cornr, who is based in Italy, attended COP 26 and spoke about the real impact that the crypto community could have on environmental initiatives.Decentralization is an alternative to “campanilism,” or as its known in English, parochialism. She said that this is a local mindset, not a global vision for a decentralized world. Lines in the sand – US Congress brings partisan politics to crypto November 29, 20,21 6 Questions for Lyn Alden Swartzer of Lyn Alden Investment StrategyNovember 28, 2021 Powers On… Why don’t more law schools teach blockchain, DeFi, and NFTs? November 24, 2021 Tim Drapers presents ‘odd’ rules for investing in success November 23rd, 2021 6 Questions for Han Kao from Sanctor Capital November 21st, 2021

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