1/In this thread I will attempt to summarise the discussion yesterday and list the main takeaways. Please reply and link any relevant artists, articles, solutions etc where you think it can help. This conversation is evolving! Feel free to correct me , it was hard to take notes!
2/ Power usage and emission calculations for the ethereum blockchain can be done at http://carbon.fyi and http://cryptoart.wtf . @carbonFYI calculations are based on various data sources which are listed here https://docs.google.com/spreadsheets/d/1KEw6yp2vmeA5LXZAuXGPjvVOtIVOvwzLdjwF3PizCgw/edit#gid=472846585 *info provided by @offsetra
3/ @offsetra describe their methodology here: https://www.notion.so/Carbon-FYI-Methodology-51e2d8c41d1c4963970a143b8629f5f9 Offsetra are keen to work with artists to look at ways to offset their CO2 emissions. Here is one case study: https://foundation.app/blog/sven-eberwein
4/What is carbon-offsetting? When a person/company buys offsets, it helps fund projects elsewhere to help reduce greenhouse gas emissions...
5/Carbon offset projects include planting trees,solar farms etc, or investing in communities in the developing world to gain access to critical services like clean energy, safe water, clean cooking. This helps finance the transition to a low-carbon, sustainable future for us all.
6/ I also reached out to @goldstandard a Swiss-based organisation who is one of the leading orgs in the world for offset kind of work. Here are a list of their current projects. It also shows the costs: https://marketplace.goldstandard.org/collections/projects
7/ I asked @goldstandard: What would you tell an artist who worries that offsetting their carbon is just a privileged way to keep polluting and alleviate their guilt? They said: If there is a viable low carbon alternative, they should pursue that. If not, the next best thing is..
8/ ..to take responsibility for that climate impact by reducing emissions elsewhere. Think about it in the same way as managing our rubbish. You reduce consumption, but you still have SOME stuff that ends up in the bin. We pay for recycling and trash collection to deal with that.
9/Artists in the discussion also urged us to do our research and donate directly to organisations that are on the ground and closer to the cause! [cc @bl_ckr_cer ]
10/ There is a fair argument that the carbon emissions could be significantly reduced if PoW were powered by clean renewable energies (clean mines), currently PoW is primarily powered by fossil fuel power sources.
11/ @Fastakl describes the 'Clean mines' thinking in this thread: https://twitter.com/fastackl/status/1360057225213976577?s=20 Note: there was some concerns about 'green washing'. [links pls]
12/ The timeframe to transition to clean mines is still uncertain. @fastackl mentions 5-10 years at best. It seems the motivation to transition to clean energy is less about being eco-friendly & altruistic and more about it being cost-effective. [More info pls cc @harry_sudock ]
13/ At this point I presented my @elonmusk Hypothesis: He will promote carbon offsetting by encouraging all the crypto rich kids to buy his Teslas! And I wouldn't be surprised if he starts powering mining operations with Tesla solar! We know his tweets are strategic marketing!
14/ PoW is the original algorithm driving the blockchain. PoS is it's (arguable) successor that is considered way more energy efficient. [links pls CC @phillipliujr @avalabsofficial ]
15/Ethereum has a Eth2 PoS network in beta. The timeframe for it becoming a main net is unclear, optimistic predictions are 6-12 months [links pls]. The amount of work required for NFT art platforms that are currently operating on the eth main net to migrate to eth2 is unclear.
16/The convo for BTC to migrate to PoS ranges from a few years to over a 100 years. If it even happens. [Need more info pls!]
17/ @harmonyprotocol joined us and claimed it is the first PoS main net and are currently developing an NFT art platform that supports migrating NFTs from eth main net to Harmony via their Eth bridge. [ CC @SahilDewan did I get that right? Anything to add? ]
18/ @avalabsofficial is another PoS network that is also developing an NFT art platform. [link pls] They also described a roadmap for existing NFT art platforms to migrate from the eth main net to their PoS network via Ethereum Virtual Machine (EVM). [CC @phillipliujr ]
19/ @artnome announced a Bounty for researching and developing Eco-friendly NFT solutions here: https://docs.google.com/document/d/1a1fTzVqDtfqDkrS6oDP9IaaW4DzoRsFD0iyP3pkH0pg/edit Its an evolving doc, lots of interesting ideas!
Bounty For More Ecologically Friendly NFTs
Bounty For More Ecologically Friendly NFTs Problem: Making a living as an artist is historically extremely challenging. For many artists and their families, the digital art economy built around NFTs...https://docs.google.com/document/d/1a1fTzVqDtfqDkrS6oDP9IaaW4DzoRsFD0iyP3pkH0pg/edit
20/We discussed how moving some art platform transactions to off-chain could reduce their carbon footprint. It was mentioned that @niftygateway does not write bids or secondary sales to the blockchain reducing their footprint here: https://twitter.com/DCCockFoster/status/1352349510069006337
21/ @KnownOrigin_io discussed improving its smart contracts to reduce the amount of on-chain txs, and are researching ways to include a carbon-offset option. I will be teaming up with KO and @Offsetra to explore this and create a case study aka 'Known Impact'!
22/There was a lot of discussion about there being not enough data comparing the carbon footprint of the NFT artworld with the traditional artworld. Albeit the general consensus was ‘lead where you can’ & the NFT art scene is in its infancy, its a great time to shape its future!
23/We also touched on the finger pointing and shaming in the community for either denying the environment impacts or exaggerating its impact. Again the general consensus is, it’s early days, NFT art has been great for artists but bad for the environment...
24/It’s a difficult dilemma! Let’s do our best to keep the discourse positive and moving in a healthy direction. The Eco-NFTs discord https://discord.gg/sRnG4Zd2 is a great place to continue the convo. @artnome's bounty is a great place to action its research and development!
25/Some eco-conscious artists were mentioned: @JoanieLemercier and @sven_eberwein [There were more! Pls link them here, I couldn't take notes fast enough!]
I’m off to get some sun! I will review replies with the intention to create a public evolving doc (stay tuned!) My gosh! Twitter threads are hard work!