{"id":26085,"date":"2022-08-25T11:09:39","date_gmt":"2022-08-25T07:09:39","guid":{"rendered":"https:\/\/graziamagazine.com\/me\/?post_type=articles&p=26085"},"modified":"2022-08-25T11:09:39","modified_gmt":"2022-08-25T07:09:39","slug":"fashion-sustainability-eco-friendly-nfts","status":"publish","type":"articles","link":"https:\/\/graziamagazine.com\/me\/articles\/fashion-sustainability-eco-friendly-nfts\/","title":{"rendered":"New Data Reveals The Worst Fashion NFTs For The Environment"},"content":{"rendered":"
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Fashion’s migration into the digital realm has ushered in a flood of innovative phygital and digital products to accommodate a growing online audience, whose interest lies heavily in NFTs (Google searches for the topic reveal peak interest in the subject at the top of this year). From Louis Vuitton<\/a>\u2019s Louis: The Game NFT\u00a0to Burberry<\/a>\u2019s Blankos Block Party, heritage brands have continued to modernise themselves for the age of Web3 and the virtual customer. On the surface, these NFT collections can seem inconsequential to fashion’s real-world issues, like sustainability, since by nature of their immateriality, they don’t create physical waste, but the way most NFTs are purchased is far from sustainable.<\/p>\n

Fashion can’t outrun its challenge to become a more eco-friendly industry by jumping into Web3. While NFTs and digital clothing cut down water usage and reliance on supply chains, all NFT transactions are still adding to the fashion industry’s (already massive) carbon footprint. According to research conducted by The Digiconomist \u2018Ethereum Energy Consumption Index,\u2019 each proof of work transaction that occurs uses more than 260 kilowatt-hours (kWh) of electricity\u2013that’s equal to the amount a U.S household uses over nine days. However, not every NFT is sold on high-impact blockchains, and some fashion companies have created NFTs with far less environmental impact than others.<\/p>\n

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A post shared by Louis Vuitton (@louisvuitton)<\/a><\/p>\n<\/div>\n<\/blockquote>\n