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Nifty News: NFTs go carbon-negative, top banker calls NFT investors gamblers

Nifty Gateway is aiming to become carbon negative while BNP Paribas’ CEO likens NFT investing to casino gambling.
The non-fungible token rush has seen every man and his Doge flock to the non-fungible market to cash in on the recent craze for tokenized collectibles. Even celebrities one would presume to have little engagement with crypto assets have been rushing to cash in, with the likes of John Cleese, Tony Hawk, Lindsay Lohan and Ja Rule cobbling together NFTs of varying artistic merit in recent months. However, surging NFT adoption has led to public backlash over the perceived carbon footprint associated with crypto asset technologies.Nifty Gateway pledges to go carbon-negativeNFT platform Nifty Gateway announced on March 29 that it has plans to become carbon-negative in the near future. In a post shared on the website of Nifty investor Gemini, the platform’s co-founders announced plans to calculate Nifty Gateway’s carbon emissions over time and purchase twice as many carbon offsets at the end of each month — theoretically making Nifty a net remover of carbon overall.While the post acknowledged the environmental concerns regarding NFT proliferation, Nifty’s founders characterized the concerns as the product of double-standards the crypto industry is often subjected to. “Ironically, because blockchains give the world such a transparent and accurate accounting of the energy consumption of our industry, they provide a tangible number to focus and dwell on, which has led to a double standard being applied to our industry,” the post said, adding:“There is …
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