Katy Perry acquires stake in Theta Labs and drops NFTs

[Aloe 1,199]

Gaga will definitely do this as it’s easy money for her  

[GagaSine 7,464]

Girl, why? Are you not rich enough  so many other ways to make some coin

4 minutes ago, Luna Lovegood said:

Hi thanks for explaining, however I’m confused about the environmental impact part. How does NFT impact the environment?

"The growing awareness of NFTs' environmental impact comes as evidence piles up about the harmful toll of crypto technology. Annually, Ethereum is currently estimated to consume roughly 44.94 terawatt-hours of electrical energy, which is comparable to the yearly power consumption of countries like Qatar and Hungary."

https://www.theverge.com/2021/3/15/22328203/nft-cryptoart-ethereum-blockchain-climate-change

Lots of articles to be found on google, key words are just "Nft environmental impact". It just requires a lot of energy.

[Teletubby 130,622]

7 minutes ago, Luna Lovegood said:

How does NFT impact the environment?

Because they depend on a blockchain, NFTs use a lot of energy. Most creators still use Ethereum, a blockchain secured using a similar proof-of-work system to Bitcoin. Ethereum uses about 31 terawatt-hours (TWh) of electricity a year, about as much as the whole of Nigeria.

The French digital artist  canceled the sale of 6 works after calculating the associated energy costs. The sale would use, in just 10 seconds, enough electricity to power the artist’s entire studio for 2 years.

https://www.fastcompany.com/90623849/why-nfts-have-such-a-massive-carbon-footprint

[RahrahWitch 6,939]

7 minutes ago, Luna Lovegood said:

so it’s good for unknown artists who makes art for a living 

Not necessarily, a lot of the bigger artist sites are invite only and will only invite already established artists with large followings and the ones that allow anyone to upload are filled with stolen art. Most artists I've seen are against NFTs.

6 minutes ago, Luna Lovegood said:

Hi thanks for explaining, however I’m confused about the environmental impact part. How does NFT impact the environment?

NFTs use crypto coins which depending on which one have differing levels of impact on the environment.

Bitcoin for example is extremely bad. 

A single bitcoin transaction uses roughly 707.6 kilowatt-hours of electrical energy–equivalent to the power consumed by an average U.S. household over 24 days.

Then there's the people mining for bitcoin. Bit coin is 'mined' by computers solving complex puzzles. There's an insane amount of warehouses full of computers running 24/7 just pumping out c02 emissions.

[Nathaniel Arven 1,434]

38 minutes ago, HorusRa2 said:

someone pls explain what an NFT is

postmodern bullsh$t only overly rich people are buying and thinking of making. Useless non sense. The proof nothing is ever gonna change. 

edit : or if you prefer it's online artworks. Unique gifs.... 

[Agunimon 21,457]

Can't imagine having the financial stability to actually participate in an NFT auction.

[GagaSine 7,464]

3 minutes ago, Nathaniel Arven said:

postmodern bullsh$t only overly rich people are buying and thinking of making. Useless non sense. The proof nothing is ever gonna change. 

Yeah pretty much just rich people playing with their money.

[Illuminati 15,685]

I think a lot of people here have a misconception of what NFT and in general crypto/stock investment is. It's not just rich people playing with their money, it's clever investments that will likely only become more common in the future seeing how regular currencies are tanking due to inflation. It's the same sentiment people had about bitcoin when it sold for just a couple of dollars.

And while some crypto currencies use a lot of electricity there's already a shift towards more eco friendly alternatives

[JusKeepBreathin 19,311]

People making fun of things they don't understand in the gay community is so ironic.