Radio interview with Prof. Leif K. Oxenløwe

tirsdag 04 jan 22

Climate Impact of NFT Art


In the art world, NFT (non-fungible token) has become mainstream and is commonly used as a unique and non-interchangeable unit of data stored on a blockchain, a form of digital ledger that makes it possible to sell artwork to a single owner – even though everyone else can still share the art.


In terms of climate change the digital certificate NFT affects the global warming to a great extent. Cryptocurrency, which is primarily used to trade artwork, used approx. 100 TWh in 2021 and emitted approx. 48 million tonnes of Co2, equivalent to 3 times as much electricity as we use throughout Denmark in one year.


Bitcoin's annualized footprint in electricity consumption reached an all-time high in 2021 and the impact factor increased by 10 in the last 3 years.


On December 29, 2021 Prof. Leif K. Oxenløwe was interviewed by DR P1 Kulturen about NFT’s deep impact of climate change. Listen to the Danish interview ‘Klimasvinet NFT':  


Interview (21:20 – 34:52).

Nyheder og filtrering

Få besked om fremtidige nyheder, der matcher din filtrering.
24 JUNI 2024