NFTs have been a controversial topic as of late due to their large carbon footprint caused by a proof-of-work consensus mechanism.
South Korea’s largest social gaming app, GameTalkTalk, has begun leveraging blockchain platform Enjin for the creation of low-carbon, non-fungible tokens (NFT).
According to a press release shared with CoinDesk, the social gaming company behind the app, Ludena Protocol, is attempting to attract new users by tokenizing fashion, furniture and pets.
NFTs have been a controversial topic as of late due to their large carbon footprint created via the process of creating consensus in a proof-of-work mechanism.
By using Enjin’s interoperable bridging network and scaling solution, JumpNet, Enjin and Ludena say they can reduce energy consumption through a relatively new consensus mechanism.
Subscribe to Money Reimagined, our newsletter on financial disruption.
The mechanism, known as proof-of-authority (PoA), refers to a solely permissioned state where only invited parties can participate as nodes on a private blockchain.
Using PoA, the companies say they can reduce power consumption by as much as 99.98%, when compared with other networks such as Ethereum or Bitcoin.
NFTs: A tax on users and the environment
Simon Kertonegoro, vice-president of Developer Success at Enjin, told CoinDesk via Telegram the cost of minting NFTs has been a tax on both the user and the environment.
With over three million users, GameTalkTalk has worked alongside major companies such as Blizzard Entertainment, SEGA and Nexon.
“We believe this is an opportunity to show these innovators how NFTs can help them build new environmentally friendly revenue streams,” said Kertonegoro.
The process to becoming fully carbon-neutral, however, it may take some time as Enjin says it has only just begun to implement a nine-year-plan to upgrade to carbon-neutral nodes.
“We are so excited to be collaborating with the Enjin team … particularly in their proactiveness in tackling the many associated environmental concerns,” Ludena Protocol’s CEO Joshua Kim.
(Source : //www.coindesk.com/enjin-gametalktalk-low-carbon-nfts-south-korea)
