At SAVAGE, we are committed to minimizing the environmental impact of the NFT industry by creating the world’s first carbon-neutral NFT marketplace in an industry where environmental concerns surrounding current NFT marketplaces abound.
Carbon-neutral platforms, especially in the blockchain and NFT industry are very important for several reasons.
Firstly, it is for adoption and scale. Creators ultimately need carbon-neutrality for the brands they work with. Many big-name professional creators, filmmakers, and brands who have desired to get into the NFT and crypto industry and share their best work have thus far been put off from being involved because of the stigma around NFTs’ massive energy consumption.
It’s time for the NFT community to actively become carbon-neutral and zero-emission if we want mass adoption and connections across brands and creators. Many top creators have relationships with companies like National Geographic & Amazon, which could be revoked if minting on current NFT marketplaces due to social/brand pressure.
To clarify, what does the phrase “carbon-neutral” even mean?
Carbon-neutral means any CO2 released from a company’s activity is balanced by an equivalent amount removed.
Today, minting a single NFT on Proof-of-Work (PoW) blockchain platforms typically requires the same amount of energy used to power a laptop continuously for 3 years!
SAVAGE would use 402.9 Tons of Max Yearly CO2 while PoW NFT platforms like OpenSea may use 71.4M Tons of Max Yearly CO2, which means creators and brands alike can be environmentally friendly.
Compared to other NFT marketplaces like OpenSea, SAVAGE will consume far less energy, be carbon-neutral, and have a long-term goal of becoming carbon negative by 2024. By building on Polygon’s PoS protocol, SAVAGE’s energy consumption is much lower at only 0.002% that of a PoW marketplace.
Additionally, as part of SAVAGE’s partnership with Energy Web Token, a portion of each SAVAGE sale goes to purchase verified carbon offsets (carbon credits).
How can we as a platform track and be held accountable to being carbon-neutral?
SAVAGE has partnered with the Crypto Climate Accord and built tools to measure every transaction on the marketplace to help decarbonize the industry in record time.
By partnering with Energy Web Token and building on Polygon’s PoS protocol, we at SAVAGE will further our efforts to provide an environmentally friendly marketplace for creators of every skill level.
Don’t miss our next Spotlight article.
Follow us on our socials to be notified:
Website | Twitter | Discord | Telegram | Telegram Ann |Instagram| YouTube | LinkedIn | Litepaper
