Digital assets in the form of non-fungible tokens are selling for millions of dollars online and Aerial helps users offset their NFT footprint, considering the fact that cryptocurrency transactions need large amounts of electricity. The recent NFT drop from The Weeknd is estimated to have emitted 86,000 kilograms of carbon according to Aerial, and this is more or less the equivalent of 86 flights from New York to London.
Aerial initially launched as a way to help people offset the carbon emissions they produce as they travel yet the team saw an opportunity to address cryptocurrency emissions. After sharing the address of an NFT drop or a digital wallet, Aerial users will see that an estimate is calculated based on a measurement called Gas.
NFT Offset Initiatives
Aerial Helps Users Offset Their NFT Footprint
Trend Themes
1. NFT Carbon Offsetting - Businesses can capitalize on the growing concern around NFTs’ carbon footprint by creating new technology solutions or initiatives to offset their environmental impact.
2. Green Cryptocurrency - The increasing demand for sustainable solutions in the cryptocurrency industry may encourage businesses to innovate technologies to make virtual currency transactions more eco-friendly.
3. Blockchain Carbon Footprint Reduction - New technologies can promote blockchain and cryptocurrency transactions with a lower carbon footprint, allowing for a more sustainable future of digital assets.
Industry Implications
1. Renewable Energy - Increased use of renewable energy sources in cryptocurrency mining and other blockchain-related activities have disruptive innovation opportunities in this industry.
2. Carbon Offsetting Services - Carbon offsetting services are likely to increase in demand for blockchain and cryptocurrency transactions in the future.
3. Blockchain Technology - Blockchain technology can be leveraged to create transparency in carbon offset transactions and promote a sustainable business approach.