RESEARCH & SOURCES
https://youtu.be/OX9fRxVe6i0 (Eric Elliott “NFTs are VERY GOOD for the environment”)
https://thenextweb.com/news/sophia-robot-nft-artwork-auction-sold-700k-humanoid-crypto-art-bubble (The Next Web "Sophia the robot ‘created’ an NFT artwork and it sold for almost $700K")
https://youtu.be/W7JVwbV2JBI (Ten Hundred “My Art Almost Destroyed the Environment: The Dark Side of NFTs & Crypto Art”)
https://medium.com/superrare/no-cryptoartists-arent-harming-the-planet-43182f72fc61 (SuperRare “No, CryptoArtists Aren’t Harming The Planet”)
https://www.loop-news.com/p/the-big-problem-with-nfts-energy (Loopify “The Big Problem with NFTs: Energy Consumption”)
https://memoakten.medium.com/the-unreasonable-ecological-cost-of-cryptoart-2221d3eb2053 (Memo Akten “The Unreasonable Ecological Cost of Crypto Art”)
https://www.wired.com/story/nfts-hot-effect-earth-climate/ (Wired “NFTs are Hot. So Is Their Effect on the Earth’s Climate”)
https://youtu.be/K31m3b5iPUI (Cheddar Now “How NFTs and Crypto Art Impact The Environment”)
https://unchainedpodcast.com/why-this-environmentalist-doesnt-blame-creators-for-the-carbon-footprint-of-nfts/ (Unchained Podcast “Why This Environmentalist Doesn’t Blame Creators for the Carbon Footprint of NFTs”)
800 watts an hour for 3D rendering. 19kWh per day. Average NFT is 38-48kWh, so 2-3 days of rendering = 1 NFT transaction.
Source: https://youtu.be/u0IQuRwRumg (Andrew Price, Blender Guru)
Source: https://blog.render.st/how-much-does-rendering-at-home-cost/ (Render Street Blog)
T-SHIRT PRODUCTION & NFTS
It takes about 494 kWh to make just one cotton t-shirt. 200 cotton shirts would be 98,800 kWh, which equals energy consumption of the average American home in 8 years or 2,058 ETH transactions. (This does not include printing, shipping, etc for customized shirts). CO2 emissions from t-shirts: 2.1kg per shirt. 420kg per 200 shirts. 1 NFT transaction is 28kg CO2.
Source: https://www.worldwildlife.org/stories/the-impact-of-a-cotton-t-shirt (World Wildlife Fund “Impact of a Cotton T-Shirt” )
Important to note that this is for a single transaction for an NFT. Memo Atkin analyzed ~1,800 NFTs and found, with all the transactions, which can include: Minting, Bids, Canceled Bids, Sales and Transfer of Ownership, that the average is: 340kWh and 211kg CO2. But again, this is still half the footprint of the cost of producing 200 cotton t-shirts.
Source: https://memoakten.medium.com/the-unreasonable-ecological-cost-of-cryptoart-2221d3eb2053 (Memo Akten “The Unreasonable Ecological Cost of Crypto Art”)
https://www.onflow.org/ (Flow) is another one we looked into, but was not mentioned in podcast