NFTs have rapidly emerged at the center of an environmental debate even as they are sold for millions of dollars. They are bought and sold with cryptocurrencies, which have been found to generate carbon dioxide emissions. Because of this, those against NFTs believe they contribute to the warming of the planet. Tristan Bishop Pan believes differently. “I hate to tell you this, but everybody that is saying NFTs are destroying the environment and that the crypto chain is destroying the environment is just flat-out wrong.”
Tristan Bishop Pan does not dispute the science behind NFTs and their connection to the environment; instead, he interprets them differently and believes that NFTs are fundamentally changing how the environment is working. “That’s important, of course. As it does, we will adapt and change with it. All of this is similar to the argument that electric cars are destroying the environment because of the amount of energy that it takes to excavate and mine those batteries,” Tristan Bishop Pan states. “Anyone who believes that is not wrong, but they are not seeing the bigger picture: progress. The more technology grows, the more progress we enjoy, and that cannot help but have an effect on the environment.”
Tristan Bishop Pan also addresses the argument that cryptocurrency, the proof of work, and the proof of stake are all destroying the environment because of the amount of electricity that has been consumed. “Well, what about countries that are doing their entire cryptocurrency on geothermal power and mining it on geothermal power?”
Tristan Bishop Pan gives a North Carolina used-tire plant as an example. “They take used tires and also break them apart so that they can be converted into energy. That excess energy that is from taking those tires apart is then used to mine cryptocurrency. Think about how environmentally sound that is – they are now using trash energies and powers in order to mine cryptocurrencies.”
Countries like Iceland are powered by mostly geothermic activities. “This is perfect because there are enough geothermic activities there to power Iceland for the next millennium,” Tristan Bishop Pan says. “There are clean options that allow us to use renewable source energy, and that helps to improve our mode of currency.”
For those who are not yet convinced, Tristan Bishop Pan says that NFTs will eliminate the need for the use of so much paper. “NFTs are going to replace the QR codes that are used to board flights. So, where this is going is the elimination of paper. NFTs are going to phase out the need for paper tickets completely, which is better for the environment.”
As NFTs become more common, their benefits will spread out across other industries. “Do you know why we don’t have print magazines anymore? Because no one will read them because everything can be found on your phone. The technology we have today is making our environment safer. It’s also making people safer,” Tristan Bishop Pan states.
NFTs and the blockchain will mean less paperwork at banks and other establishments, leading to fewer forgeries. “If you go buy a house now, the paperwork that you have to sign is a few inches thick when you’re sitting at either your escrow or your attorney’s office. It’s huge. No more,” Tristan Bishop Pan reveals. “It’s all going to be in an NFT and on the blockchain.”
To those who oppose NFTs for environmental reasons, Tristan Bishop Pan says that all of this is going to happen. “You can’t stop it, so stop trying to fight it and instead realize this is happening. You don’t have to like it, but it’s got to happen. So, hop on board, and make some money.”
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