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How to create NFTs without killing the climate.

| Hartmut

NFTs. A great concept. With a bad reputation .

NFTs have the potential to disrupt digital value creation: they bring back ownership into the age of streaming.

However, creating NFTs on Ethereum, the world's most popular blockchain to implement non-fungible-tokens, is costly both in monetary and computational terms: "minting" an NFT with a ERC-721 contract requires gas fees to pay for the use of the networks computational resources when executing the smart contract. And the execution is part of the proof-of-work that powers the Ethereum network, requiring miners to solve complex mathematical problems as they compete for the right to sign the next block of the chain.

This is not necessary. The technology used in Ethereum was not designed to manage assets at scale. There are better alternatives out there. Kollektor.io has chosen the Algorand blockchain to implement NFTs with a tiny ecological footprint.

https://www.algorand.com/resources/blog/the-importance-of-low-transaction-costs--lower-carbon

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