The Ethereum development firm will release “Regenesis,” a free collection of NFTs. ConsenSys, a blockchain development firm, has announced a line of green NFTs to commemorate Ethereum’s impending Merge.
ConsenSys Introduces the NFT Line
To commemorate the Merge, ConsenSys is releasing a line of environmentally friendly NFTs. On Thursday, September 1, the company announced the release of “Regenesis,” a collection of NFTs.
According to ConsenSys, the NFT collection “explores the scale and significance” of Ethereum’s Merge and is “focused on the Merge’s most important benefit: sustainability.”
According to ConsenSys, Ethereum’s move to Proof-of-Stake will reduce the blockchain’s carbon footprint by 99.95%, which is consistent with estimates provided by Ethereum developers last year.
With this modification, the Ethereum network will be approximately 2000 times more energy efficient than it is now.
Chris Skinner’s art will be featured in the NFT collection, which will be animated by KeithCity Group. Invisible North, a blockchain marketing agency, helped with the design.
ConsenSys will begin minting the NFT on the date of the Merge at 1:00 PM UTC and will allow minting to continue for 72 hours.
Except for gas or transaction fees, NFT minting will be free, and users will be able to mint as many NFTs as they want.
Ethereum contributors who are members of the Protocol Guild will also receive an airdrop of limited edition NFTs.
Because the Ethereum blockchain previously relied on the energy-intensive process of mining, NFTs have historically been criticized for being environmentally damaging.
Companies and brands such as Ubisoft, the WWF, Minecraft, Discord, and Sega have faced backlash after announcing plans to release NFTs in the last year. Even Kickstarter, which chose Celo’s energy-efficient blockchain, was chastised.
ConsenSys previously pursued energy-efficient NFTs by co-launching the Palm ecosystem on Ethereum in 2021.
While Ethereum’s transition to Proof-of-Stake will virtually eliminate the environmental impact of NFT minting, given the notoriety of previous controversies surrounding the issue, it is unclear whether this will be fully recognised by the public.
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