A non-fungible token or NFT is a type of cryptocurrency based on Blockchain technology. That’s the technology on which the famous Bitcoin is based. NFTs act like a certificate for digital art. In this context, art can include anything from a short clip of “wide Putin” (a video meme) to a beautiful postmodernist adaptation of the various paintings on the Sistine Chapel. In essence, NFT commodifies digital art that can be “owned” as the technology certifies the authenticity of a digital file’s origin. JPEG, PNG, GIF, MP4 – the format of the file can be any as long as it is digital.
The rise of environmentally-focused crypto
HapeBeast is a 3D NFT that consists of models of apes. There are many other environmentally-focused NF-backed digital art pieces that are on the rise. The upside of these NFTs is that they will create awareness about current ecological issues as well as contribute to the same financially. For instance, 3% of the sales of OG Crystals in the primary round will be donated to the Scripps Institution of Oceanography. OG crystals is an algorithm-based art form that grows whenever it is resold. Symbolically, OG crystals mimic life as the art undergoes an organic evolution. Unlike much NFT-backed digital art that has hit the market, it is dynamic.
Environmentally-focused NFT collections not only raise awareness but actively participate in answering the big question that humanity is facing today – how to survive climate change? How these NFT collections evolve is something that time will tell.
