The impact that cryptocurrency has on the environment cannot be understated. In the US alone, one year of Bitcoin mining used the same power as 3,266,449 houses for that same period. It’s so overwhelmingly resource intensive that you'd think environment-focused charities — like the WWF — would denounce them.
Well, you'd think wrong. Despite being poised as savers of natural habitats, the WWF has decided to sell non-fungible tokens. What a move.
WWF sells NFTs in bizarre new campaign
Announced through a blog post, the WWF has decided to release a series of NFTs called NFA — non-fungible animals. The “highly limited” line of cryptoart is designed to raise awareness of ten different endangered species.
Each animal’s NFT is created by a unique artist. Additionally, the number of every animal’s NFT is directly linked to the current number of those animals in the wild. For example, the Persian Leopard NFT only has 1,200 NFTs available whereas the Giant Ibis only has 290.
Currently, the WWF has sold over €100,000 worth of NFTs, just over 450 NFTs. Almost hilariously, as more NFTs are sold, the NFA logo on the charity’s website “becomes greener”. The charity claims that its chosen blockchain — Polygon — is “optimized for environmentally friendly NFTs”. However, that low-consumption claim has never been proven.
A move of hypocrisy
Over the years, the WWF has fought to cut down on energy waste and power consumption. After all, the charity’s main battle is to “Save the Rainforests” and their associated ecosystems. Additionally, the charity has fought to improve worldwide recycling efforts.
So, what's with the NFTs? Well, a lot of NFT campaigns appear to specifically target environmentally friendly brands. For example, pro-environment rock band Tenacious D and even Gorillaz — the band behind Plastic Beach — both released branded NFTs.
When pro-environment groups decide to release NFTs, fanbases explode in disappointment. Not only does the act go against established values, but the decision to release cryptoart usually comes from a lack of understanding.