Non fungible token ecosystem developer Enjin is bringing sustainable NFTs to South Korea’s largest social gaming platform.
Enjin is partnering with gaming social media company Ludena Protocol to release these NFTs on its platform GameTalkTalk. The social gaming app currently has three million users.
From April 6, GameTalkTalk users will be able to mint NFTs using Enjin’s environmentally-friendly scaling solution, JumpNet. This will be available in addition to its NFT highway, Efinity.
GameTalkTalk’s 200,000 monthly active users will be able to mint fashion and real estate NFTs to personalize their avatar and their homes.
“This is also a unique opportunity to show some of the legendary companies they’ve worked with how NFTs are creating highly-engaged communities that drive new users to games, in a sustainable way,” says said Maxim Blagov, CEO of Enjin.
Enjin, NFTs and the Environment
Most NFTs are part of the Ethereum blockchain. According to Enjin, Ethereum consumes 27 trillion watts of energy per year. This is due to the power needed by the Proof of Work method currently used by Ethereum.
By comparison, JumpNet only consumed 30 million watts per year. This lower energy consumption is part of the company’s five-step plan to enable carbon-neutral NFTs by 2030.
In addition to providing a more sustainable NFT platform, Enjin’s plans involve encouraging carbon-neutral energy production for nodes and encouraging the physical world’s tokenization.
NFTs Create Serious Profit
Part of the launch and Enjin’s overall carbon-neutral strategy aims to show the profitability of NFTs.
South Korea is already the world’s fourth-largest gaming market. Its overall gaming market value is currently $5.9 billion.
As has been noted, interest in NFTs has spiked over the first few months of 2021. This growing market has users paying high prices for NFTs they consider valuable. From a $69 million bid for digital artwork to $2.9 million for Jack Dorsey’s first tweet.
Enjin believes that the adoption by GameTalkTalk of its new technology will show the benefits of tokenization of in-game products to big-name brands like Blizzard, SEGA, and Nexon.