Just wondering where the information on the environmental damage of NFT's comes from?
I've seen a few data reports and would like to see what other information has been going around. The research I have from years working in the crypto industry doesn't show NFT's to have had any impact on crypto-mining. I was a crypto-miner in 2017 to 2018 but they are bringing it to what's known as the ice age to make it more difficult to mine to curtail wasted energy and switch to something called proof of stake (uses a lot less energy). Blocks get mined regardless of whether someone mints one NFT or a thousand of them. So artists using the network or boycotting it wont make any difference because that isn't how it works - each block is the same size and gets mined regardless of what's in it. There's a brilliant visualiser of how transactions and mining interact at txstreet.com
Global Bitcoin mining takes up around the equivalent of people with games consoles playing on their console for 4 hours a day. Ether mining uses less than half the power of bitcoin mining and has the same carbon footprint as YouTube. 51% of Bitcoin mining takes place in Sichuan in China and 90% of that is hydro-power by using the River Yangtze. They are ending using coal at the end of April in Mongolia (or so they say!) So on average its about 73-74% renewable energy at source. The report is on coinshares research site. I have a pdf if anyone is interested (bit dry).
So yes it does use a lot of energy to mine crypto but nowhere near as much as other industries artists are involved in such as selling physical art, digital downloads, computer games or printing books and distributing them around the world via planes, trains and automobiles.
Full disclosure: I do make NFT art and make money in the crypto industry so I want to defend it from being demonized. I'm constantly looking for ways to improve the NFT industry and finding ways to stop needlessly wasting energy. I hope upgrades in July that Ethereum will have made leaps and bound in reducing energy waste. Also, there are other platforms like TEZOS that mint NFT's a different way.
I'm a digital artist and want to do it efficiently but also want to make art I can sell online and receive payment instantly and securely and get secondary market royalties paid directly into my wallet without chasing people up. Selling NFT's helps me do that. Not everyone it seems wants to right click save! There are people who want to pay too. Like digital patrons, plus secondary market sales are lucrative for them as well. Art goes in cycles but the tech is new and probably here to stay like when the MP3 disrupted the music industry. I got into it with investing in NFT concert tickets as the company wants to get rid of ticket touts! And so far they have been successful with all the concerts they have ticketed.
Here is a good write up that questions the online debate about NFT's and I think puts things into perspective - https://sterlingcrispin.blogspot.com/