NFT’s Sustainable Future: The Online Art Market’s and its Environmental Concerns

Nathan Cho
Yongsan International School

 

Abstract

In the early 2010s, no one could have imagined cryptocurrency growing the way it did. As cryptocurrency continues to increase in popularity and the stock market, there’s an unforeseeable, urgent issue: the environmental carnage that cryptocurrencies cause. Particularly in the art market, digital non-fungible tokens (NFTs) have exploded in popularity, causing an inhumane amount of pollution due to computer usage. This paper seeks to explain the rise of bitcoin, the rise of NFTs and their effects on the environment, and how people may be able to rectify the current issues with the digital art market.

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