Hardware

This indie dev is holding an anti-NFT gif sale

This indie dev is holding an anti-NFT gif sale

If you haven’t heard of NFTs then congratulations on not being terminally online and probably leading a healthy life involving sunshine and, I don’t know, a gym membership. Even if you have heard the latest tech buzzword, you may not understand what it means. NFT stands for non-fungible token, but what it means is a way of uniquely identifying a work of digital art. It’s a certificate of authenticity for videos, music, images, and so on. Each one is connected to a blockchain, like the cryptocurrency Ethereum, and that’s the point where your brain tunes out if you have seen the sun even once today.

The point is, artists can use NFTs when they sell their work online because collectors like certificates of authenticity. They can even include a code ensuring when the original is resold a percentage of the sale goes to the artist. Oh, and one other thing: like cryptocurrency, NFTs are wildly energy-inefficient. An analysis of around 18,000 NFTs found each one has an environmental impact roughly equivalent to over a month of power consumption by a typical EU resident, with emissions equal to driving a petrol car for 1,000 kilometres (621 miles).


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