NFTs are more environmentally friendly than the traditional art market, but face a “biased narrative” from the mainstream media, according to Harrison Seletsky, communications manager for the NFTrade market.
Seletsky’s comments came in an exclusive interview with BeInCrypto in which NFTrade’s communications manager covered a range of topics including the environment, public perception of NFTs and what the future of the industry might look like.
We spoke to Seletsky about a mainstream media discourse that tries to highlight the environmental impact of the industry. It’s a story Seletsky doesn’t buy into.
“What is the environmental impact of the millions, if not billions of pounds of canvases, brushes, paints, cameras, etc., that are produced each year to satisfy the physical art market? Said Seletsky.
“Creating art and digital assets is infinitely more environmentally friendly than creating physical art, and there is a biased narrative that doesn’t really address the issue at its heart. On top of that, with the push towards proof-of-stake verification mechanisms, NFTs will be even more environmentally friendly than their physical counterparts – art, receipts, tickets, etc. – with no more additional impact than having your computer turned on and running. “
For NFT fans, Seletsky’s remarks provide a welcome counterbalance to the often one-sided analysis offered by the mainstream media. Earlier this year, Enjin co-founder Witek Radomski told BeInCrypto that the cultural importance of non-fungible tokens was “overlooked” in the environmental debate.
Seletsky now adds his own argument to further challenge the “bad NFT” narrative that has polluted public perception. According to Seletsky, he expects the public image of NFTs to improve over time as the technology becomes more familiar to the public.
“As NFTs increasingly integrate into our daily lives through various use cases, this [public] the picture will inevitably change, as will the cryptocurrency industry in general, ”he said.
To look forward
As the year draws to a close, we asked Seletsky about his forecast for the market in 2022.
“The next big trend in NFT is already starting to emerge – games,” he told us. “Winning gambling and NFT-based gambling have started to redefine the multi-billion dollar gaming industry. The leisure economy – the ability to monetize your free time – will change the way gamers and interested users around the world interact online, and NFTs will be the economic drivers behind it all.
What about the longer term, what will NFTs bring over the next 10 years?
“Every game item will be an NFT, musicians will use NFTs to monetize themselves without having to cede the lion’s share of their revenue to studios, NFTs will represent digital ticketing, and much more. It’s pretty hard to say how successful NFTs will be, as there will most likely be some groundbreaking use cases that haven’t been discovered yet.
“It’s a bit like trying to quantify the impact of the internet in the 90s without knowing the power that social media will bring. To think that there was a time before social media is almost hard to imagine, especially for the younger generations, and we might see a similar concept recur through NFTs.
As for the roadmap to wider acceptance, NFTrade’s communications manager shared some final thoughts.
“There is always a very high technical barrier to entry, which means you have to have a fairly in-depth view just to be able to buy an NFT,” he explained. “As these barriers are lowered through things like fiduciary integration, easier to use and accessible portfolios, and adoption across various sectors, the public will begin to better understand the capabilities of NFTs. “
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