Some recent team discussions around the carbon impact of NFTs. Certainly a complex issue–we’re exploring ways we can responsibly address this.
A couple of ideas we’re looking into:
1–Offsetting the carbon impact from all of our contracts on Ethereum network
2–Nesting “Green NFT” badges inside NFTs to certify their impact has been offset.
Welcome all community ideas on this. Especially any suggestions for suitable partners. e.g. organizations that certify carbon offsetting, or accept money to responsibly carbon offset
I love this idea, obviously. I think offsetting our contracts is a no brainer and also a wonderful opportunity for us to challenge other DAOs to do the same.
We could offer some special Green NFT badges for DAOs that also carbon neutralize. I think, generally, the more we can encourage other projects, teams, and communities to follow our lead on behavior like this, the better.
Think “Thought Leadership” but for community values and behaviors.
I like the idea of doing good for the environment but calculating the true environmental impact of a transaction is nearly impossible since the network runs and consumes energy regardless of whether or not there are transactions in any given block. Curious to see how you’re thinking about estimating the energy usage of the protocol.
I’m all for some goodwill to help out the environment, but we should be careful about calling it an “offset” or implying we know the true amount of energy usage attributable to our contracts. “Offset” implies to me that we’ve got an accurate assessment of the damage being done and are making 1:1 reparations.
Absolutely right, Sam.
I think Offsetra takes a really mature view of this: the amount of gas used by an address/contract acts as a proxy for their contribution to the Ethereum network.
Have made some estimates of CPs contracts’ impact using carbon.fyi calculator
Ultimately, this will always be an estimate.
Overall I think this is a great idea; although I understand and agree with Sam’s concerns, I think that even symbolic attempts to address these issues are better than no attempt at all. However, I find myself wondering what role the users of the platform play in this system. Tackling climate change and carbon impact is really something that we should be doing as both individuals and as a community. In addition, as stated this project would be an ongoing expense against the treasury, without any income to offset it. What will be the long term effect of this?
In response to these concerns, I’d propose another dimension to this idea: provide the opportunity for those who mint or purchase on the CP website (or use the CP contracts to mint) to donate/contribute toward offsetting the carbon costs of their actions. I don’t think it should be a requirement – and maybe the treasury can pay the appropriate offsets no matter what – but it would provide both the opportunity and encouragement for individuals and teams to step up to the plate and take responsibility for their ecological impact. It would also provide some support for the treasury in this matter, potentially allowing support for longer than would otherwise be possible. I personally like the idea of any “Green NFT” badge being associated with such a donation, instead of given to just any NFT minted/purchased on the site.
(I’m not convinced that nested badges is the way to go, however, given that the owner could probably remove the badge and sell/trade/move it elsewhere.)