Are NFT’s bad for the environment?

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  • The Ethereum community has known for a long time about the environmental problems with proof of work and started migrating to a proof of stake mechanism several years ago. It's expected that the network will move to being fully proof of stake within the next year or two at most. A portion of the chain already runs successfully on proof of stake. The proof of stake portion and the proof of work portion are set to combine in an event called "the merge" after which the chain will be secured entirely by proof of stake. This will reduce the emissions necessary to complete a transaction on the network by over 99%. At this point, the criticism that NFTs are bad for the environment will be wholly invalid as they won't take up much more computational resources than any other peer to peer network because the calculation intensive proof of work mechanism will be entirely removed.

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