There is an Ecological Impact of NFTs. Apparently the trade in coded simulacra is burning up energy at alarming rates. I can't say I personally know a damn thing about how NFTs work nor how the Crypto currency system works either. I also don't know how cars work. But I don't need to know anything about combustion engines to know tail pipes spew hot steamy death.
Someone else however knows a lot about how all these things work and they did all the research and penned a very intimate look at this Digital Bubble of hot steaming death. And you can find all this highly detailed work hereon Medium: LINK
Hint: Most of the damage to the world is actually due to the Ethereum cypto currency that is required to participate in the NFT Market. Which all really sounds like some kind of scam being played on Artists by the people behind Ethereum to me.
Now here is what I really hate about the NFT thing altogether, they are a digital Funko Pop. Pops, rope in average consumers who would never buy Designer Toys, in spite of some people musing that they are a gateway drug toy, which they are NOT. Your average mall dweller doesn't actually give a damn about Pops, they just like their fandoms. Most Designer Toys are not backed by a cartoon and the inevitable Cereal Boxes. So mall dwellers will never give a damn about Designer Toys, Pops or no Pops.
My point here is that NFTs, and their inevitable demise and fallout, just like Funko Pops, won't motivate the average consumer to move on to collecting real art on canvases any more than the collapse of the speculative value of Funko Pops will move collectors surrounded by little white boxes filled with worthless bobbleheads to go to DCon and start paying for $100 vinyl toys.
If anything these Flipper Markets will, in the long term, leave Artists everywhere stranded with way less long term fan base, on desert islands of plastic bottles, riddled with cancer, cursing their digital wallets.
Posted By: Cultural Ambassador Gavriel Discordia