NFTs have grown in popularity (and value) over the past 12-18 months and brands have started to experiment in this nascent space, but is crypto climate-friendly? Matt Rebeiro, senior strategy director, Iris, examines the environmental impact of NFTs, and the blockchains they operate on.

Why it matters

For brands wishing to experiment with NFTs, it is therefore imperative to understand the underlying blockchain technologies that NFTs work on and the environmental trade-offs, if they are to avoid attracting criticism.

Key takeaways

• The largest blockchain for NFTs is Ethereum. Ethereum is what is called a ‘proof-of-work’ blockchain, which are very energy...