BeinCrypto spoke to Andreas Homer, CEO, and Co-Founder of Aerial, about his platform and why counting your carbon emissions matters.
There is no denying that environmental concerns are becoming a key talking point in the cryptocurrency and blockchain community.
Whether it’s arguing that emissions are not a central concern, or a new project aiming to put sustainability at its center, no one is escaping this discussion.
Most non-fungible tokens (NFTs) are minted on the Ethereum blockchain. At the same time, less energy-intensive than Bitcoin, the annualized energy consumption for the blockchain is estimated at 63.96 TWh. Its carbon footprint is estimated at 30.38 Mt CO2.
Homer and his team at Aerial wanted to make an accessible way for crypto hodlers to acknowledge and track their carbon emissions with a data-first approach.
“My co-founders and I wanted to build a platform for climate action that covers different emission sources, is well designed, and allows people to see their own data and take action on it,” explains Aerial CEO, Andreas Homer.
“At Aerial, we aim to take the guilt out of climate action. Our approach is objective and data-focused, offering you clear information and simple ways to reduce your footprint.”
From travel to NFTs with Aerial
The platform doesn’t just deal with crypto. It began as a way for people to track their travel emissions through transportation like flying and ride-sharing.
Upon seeing the rise in interest in NFTs, the team saw the benefits of adding a calculator for these items to their app.
“Early on, we had minted NFTs and played with them, as both creators and consumers. We immediately recognized the potential power that NFT technology could hold for creators, and we were hooked. By the end of 2020, mainstream artists were taking on NFT projects.” he says.
“Around that same time, the discussion of the environmental impact of cryptocurrencies and NFTs, in particular, started to come to the forefront. The immense popularity of NFTs rapidly increased energy consumption across the Ethereum network. People began to question if it was irresponsible to mint NFTs at such a high cost to the environment.”
“We built our tool to help artists and creators, create that awareness around energy consumption”
Homer explains that the tool makes it easier for both collectors and artists of NFTs to consider their impact and implement changes.
These can range from participating in projects that improve their carbon credits to changing how they interact with NFTs and marketplaces.
“There have been some great changes across different platforms in the last several months. For example, the principle of ‘lazy minting’ is brilliant, whereby you don’t actually mint an NFT until it’s sold. Creators don’t have to pay gas fees upfront, and it doesn’t create unnecessary energy consumption.”
The interest in green NFT platforms is expanding rapidly. NFT marketplaces built specifically with lower minting power consumption are growing by the day.
Homer explains that sidechains are also being utilized to tackle the energy consumption issue.
“Minting NFTs on sidechains has lowered energy consumption, as well. A big push for these changes came from artists and creators who have a platform. I think it’s wonderful to see them use their voice in a positive way.”
Sidechains are already popular options, with Damien Hurst’s recent collection The Currency Project, was minted on the Palm sidechain.
Putting the focus on people
In the overall climate change discussion, it is often pointed out that individuals aren’t the biggest polluters. Rather companies contribute the most to carbon dioxide emissions, toxic run-off, and energy consumption.
However, for Homer, focusing their app on the individual is about recognition and awareness rather than blame.
“The vast amount of natural resource mining is troubling. While several major corporations are responsible for the majority of these emissions, consumers drive tremendous demand for petroleum-dependent things, such as transportation, travel, and home energy.”
He explains that the pandemic helped highlight how our individual actions, in a collective setting, can create the change we’re after.
Much like we pulled together to wear masks and sanitize, Homer sees this as a way to deal with the climate issues.
“During the pandemic, it has been incredible to witness the power that individuals have when they see a common goal and band together to solve it. It gives us hope for the climate crisis, which is our next big global crisis,” he says.
“If we can all step up and take responsibility for our actions, we can be a part of the solution to these crises.”
Disclaimer
In compliance with the Trust Project guidelines, this opinion article presents the author’s perspective and may not necessarily reflect the views of BeInCrypto. BeInCrypto remains committed to transparent reporting and upholding the highest standards of journalism. Readers are advised to verify information independently and consult with a professional before making decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
