09/09/2022 White House to NFT Space: Make Minting Greener

The Alpha:

  • AThursday reportpublished by the White House on Thursday has detailed a list of steps all blockchains can take to become more environmentally sustainable, which directly affects the NFT space.
  • The report argues blockchains operating under a proof-of-work consensus mechanism — namely Bitcoin and Ethereum — are particularly energy-consumptive.
  • With Ethereum taking up to “20% to 39%” of the global energy usage generated by blockchains,the upcoming Ethereum mergemay help reach the sharp reduction in blockchain energy consumption the White House is calling for as it shifts to a proof-of-stake consensus mechanism.
  • The report follows the March issuance ofExecutive Order 14067, which called for the responsible development of this growing technology sector, referred to here as the digital assets industry.

Why it matters

It looks likeeveryoneis excited about the upcoming Ethereum merge. Even the White House. Withenvironmental concernsleading the list of arguments against further development ofblockchain technology, the coming shift of the de-facto NFT blockchain to a proof-of-stake consensus mechanism for verifying transactions recorded onto it looks to resolve one of its most often discussed issues — along with encouragement toward future growth. It’s generally accepted that blockchains operating under this consensus mechanism pose a “considerably lower” risk as they are scaled up, compared to their proof-of-work counterparts, according to the new White House report.

Currently, NFTs are far from an exception to the potential environmental toll of blockchain technology. As detailedin an articlefrom computational artist Memo Akten, each NFT transaction on Ethereum-powered platforms reportedly consumes a similar amount of energy as a multi-hour flight. That includesminting, which allegedly consumes the same amount of energy as a “1–2 hour flight,” Akten said. Of course, that all stands to change following The Merge.

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“Every consensus mechanism has strengths and weaknesses. [
] Responsible development of digital assets would encourage consensus mechanisms that minimize energy usage and environmental impacts while maximizing benefits to consumers,” the White House said.

What’s next

Although things are looking up for Ethereum, Bitcoin must follow suit in adopting a more environmentally-friendly consensus mechanism. As detailed in the White House’s report, the U.S. is currently the world’s leading force in Bitcoin mining — a position that may become environmentally sustainable down the road. At worst, the White House may follow the initiatives of countries like China in officially banning all things crypto — and, in turn, NFTs. However, it should be noted that the CCP’s crypto ban hashardly slowed downcrypto-mining operations in the country.

Keep in mind that an outright ban is an absolute worst-case scenario. All things considered, this report can be seen as a gentle reminder from the White House to keep sustainability in mind as blockchain technology continues to go mainstream. Asthe March Executive Ordermentioned, “We must reinforce United States leadership in the global financial system and in technological and economic competitiveness, including through the responsible development of payment innovations and digital assets,” President Biden said. “The United States has an interest in ensuring that it remains at the forefront of responsible development and design of digital assets and the technology that underpins new forms of payments [
], particularly in setting standards that promote: democratic values; the rule of law; privacy; the protection of consumers, investors, and businesses; and interoperability with digital platforms, legacy architecture, and international payment systems.”

Arts

https://nftnow.com/news/white-house-to-nft-space-make-minting-greener/

Interesting NFTs
Momo
Shalom! I'm Momo. I'm often referred to as the Dwight Schrute of the group. I was voted biggest teacher's pet in college. I hope you like kitten around as much as I do!
Various people climbing the mountain, from the series Thirty-six Views of Mt. Fuji
Katsushika Hokusai (1760-1849) Various people climbing the mountain, from the series Thirty-six Views of Mt. Fuji 1833 - Japan
Who Is The Creator 2
The idea for this piece was borne out of a tweet of mine that caused a bit of a stir. I’d posted a link to a blog article I’d written a number of months previous titled ‘Who is the Creator’ discussing various types of creative collaborations and why I hire people to work on my animations. It generated a lot of debate around creation and attribution with the community split on whether it’s right or wrong for an artist to hire other professionals to help them realize their art projects. I decided to push the boundaries even further and see how the cryptoart community responded. What if I quite literally had nothing to do with the physical or digital elements of the work other than coming up with the concept and coordinating it? I decided there was one artist in the space who could add huge value to this idea on levels that none other could and so I gathered my courage and contacted the great JosĂ© Delbo to ask him if he’d be interested in a very unique collaboration. I explained to him that to make this piece ‘work’ he couldn't have any say in what I produced and moreover, he wouldn’t even be allowed to see the animation until it was dropped on MakersPlace. To my surprise, Mr Delbo agreed to my proposal. The animation tells the story of the creative process, which includes my roles as writer, director, and producer working with a team and making edits and changes ‘in real time’. The dialogue between myself and my ‘hired guns’ plays out in front of the viewer. The music written for the piece adds to the nostalgia of the comic book superhero theme but other elements such as the snapping and kicking of the pencil and the signing of my signature at the bottom incorporates further layers and challenges the viewer to ask important questions, such as, is the ‘Art’ the final animation (the creation) or is the ‘Art’ the concept/credit for the creation itself?
The Pixel
The Pixel is a single pixel statement. It is created to validate. The Pixel is a digitally native artwork visually represented by a single pixel (1x1). It is a token that signs the most basic unit of a digital image in a traditional global auction house. It is a tiny mark to carry digitally native art to a potential future history.
The Moth Catcher
In this psychologically bed-headed portrait, a creature sets in a trance; his eyes devolved and vestigal, his third eye open but hardened and in a form resembling a Sharingan. The imagery therefore expresses an awareness existing in corporeal introspection. The creature’s mind sprouts, on the left side, an emerging face, grinning. To the right side of the head, red tentacles and fingers intertwine–a collaboration of invertebrate and vertebrate consciousness cooperatively handling paint brushes of the sort used to build an oil painting. The neck and throat bristle with random thorns, as from a rose or the upper portions of a beak sprouting from its flesh. The neck itself disassociates into layers of membranous material, terminating upon an abstracted base of convoluted forms composing its body. The nose is virtually non existent, more a sinus reiterative of the shape of the third eye. Set against the exposed teeth peering out of thick, meaty cheeks, a skeleton-like impression results. That impression sets behind a visceral set of lips and tongue, which is the creature’s prime seat of awareness. Sensual, organic, the tongue organ hangs, meaty, and with consciousness of a sea cucumber. It illuminates at the tip, drawing the attraction of a nearby moth–with mystery of purpose.