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True or false? A single NFT can power a European household for 1.5 months

NFTs are coming under scrutiny as more attention is drawn to the carbon footprint of PoW blockchains.
The recent boom in non-fungible tokens, or NFTs, has been accompanied with controversy and concern over the technology’s environmental impact due to the computational power required.Out of all transaction types on a blockchain, NFTs are some of the most intensive of them all as they often involve numerous complicated transactions and executions of smart contracts in the minting, bidding, selling, and transferring process. This is sometimes reflected in transaction costs reaching hundreds of times more than that of a simple transaction.Almost 5k is the price to accept a bid on @rariblecom now!! Is it because of ETH high gas fees⛽️ or some type of bug ? Thoughts ? pic.twitter.com/tYoV1ilB85— Olive Allen (@IamOliveAllen) February 3, 2021
In the past, the impact of such concerns was minimal, however, in recent weeks, some artists and platforms are starting to cancel NFT plans as a result. Digital artist Joanie Lemercier canceled his second Nifty Gateway drop after becoming aware of the environmental impact of the platform’s sales:“It turns out my release of 6 CryptoArt works consumed in 10 seconds more electricity than the entire studio over the past 2 years.”Art portfolio platform ArtStation canceled its NFT drop of prominent artists hours after announcing it due to excessive backlash on the environmental impact of NFTs.However concrete figures behind NFTs’ real carbon footprint remain elusive.In December, 2020, computational artists and engineer Memo Akten developed the …
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Multi-Platinum Recording Artist Lil Pump to Drop ‘Digital Jewelry’ NFTs

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