Aren’t NFTs bad for the environment and is Sparkles doing anything about this?
All blockchains require energy to process transactions, and maintain records of these, with the energy consumed varying, dependent upon the consensus mechanism used.
Proof of Work (PoW) as a consensus mechanism, for example as used by Ethereum, has a high rate of energy consumption.
One of the reasons Sparkles is built on Songbird, and will ultimately be built on the Flare network, is due to the energy efficacy of the Flare Consensus Protocol (FCP) utilised by Flare, vastly reducing the environmental impact of NFTs on the environment.
Unfortunately, there will always be an environmental impact where there is energy consumption.
To mitigate that, Sparkles is committed to being proactive in helping the environment. This is one of Sparkles core values and missions. To show our commitment, Sparkles is proud to be a supporter and signatory of the Crypto Climate Accord (CCA).
Additionally, prior to the Sparkles marketplace being live, we have made efforts to be carbon neutral and have a positive impact on the world by donating to both environmental and wildlife causes.
Sparkles will continue to uphold these values and fulfil our mission, with the Sparkles community, in making the world a better place, one NFT at a time.