The United Nations, through its UN-Habitat program, partnered with Unique Network, Exquisite Workers, and IAAI GLOCHA to take advantage of NFTs to create awareness about the global climate crisis through an initiative called DigitalArt4 Climate.
During the United Nations Climate Change Conference or COP26 in Glasgow, Scotland, the UN showcased the results of the NFT art with Philippian digital artist Bricx Martillo Dumas bagging the top spot.
Alexander Mitrovich, the CEO of Unique Network, welcomed this move and said:
“We believe that the future of human expression will be through NFTs, and we are dedicated to showing the whole world how it can unite our disparate communities in the fight to save our planet.”
He added that the DigitalArt4 Climate initiative illustrated the ethos of open data and distributed ledger technologies in taking amicable climate actions.
Empowering digital artists
Given that NFTs are blockchain-based, they create intrinsic value because of their limited supply. The secondary sales of the non-fungible token (NFT) recently has surpassed $10 billion, the NFT sector continues to take the world by storm.
The U.N. expects the initiative to empower activists, designers, and artists to create digital art that would inspire the global populace to take action against the climate crisis. As a result, monetizing their work in unique ways.
Blockchain technology also has been playing a pivotal role in tackling the climate crisis. For instance, Acciona, a leading Spanish renewable energy company, teamed up with Climate Blockchain Initiatives (CBI), a Valencia-based startup, to boost the sale of its carbon offsets using the latter’s blockchain-powered trading platform.
Carbon offsets help reduce climate change by prompting compensations for minimizing carbon dioxide emissions or other greenhouse gases.
Furthermore, the World Economic Forum (WEF) launched a unique proof of concept to track greenhouse gas emissions across the value chain using distributed ledger technology in 2020.
Image source: Shutterstock