Coming into NFTs: Understanding the environmental affect of digital collectibles
NFTs have taken popular culture by storm over the previous yr. On an almost every day foundation, a brand new superstar declares their curiosity within the rising expertise — often by dropping an NFT assortment. From Quentin Tarantino’s Pulp Fiction NFTs to Snoop Dogg’s NFT music label, a variety of notable names are starting to comprehend the inventive worth that NFTs supply. Whereas superstar involvement has performed a key function in elevating mainstream consciousness in regards to the array of NFT use instances and funding potential, it has additionally drawn the ire of some followers.
Within the midst of the hype surrounding the NFT phenomenon, apprehensions have grown in regards to the expertise’s environmental affect. In a single notable instance, the favored South Korean boy band BTS confronted important pushback a number of months in the past in response to their plans to debut their very own NFT assortment. The backlash BTS skilled is considered one of many related situations, leading to some artists changing into cautious of exploring the NFT pattern for themselves.
Alex Salnikov is the co-founder and chief technique officer of Rarible, a community-centric NFT market. A blockchain trailblazer and an lively developer within the crypto house since 2012, Alex beforehand served because the chief expertise officer of CoinOffering, the primary firm to supply its shares within the type of blockchain property. With a B.A. in laptop science and an M.A. in knowledge science, Alex’s specialities span quite a lot of sectors together with market evaluation, decentralized finance, NFTs, and tokenomics.
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