Enjin, a blockchain gaming and non-fungible token platform, has stepped up by joining the Crypto Climate Accord to decarbonize its footprint, a move that adds further credibility to the industry’s growing environmental mandate.
Behind the Crypto Climate Accord are 20 companies from the blockchain, fintech and green tech industries. Inspired by the Paris Agreement with 195 signatories, the agreement was founded in April to address the “large and growing energy consumption of cryptocurrency and blockchain and the climate impact of their energy consumption”.
Enjin claims that its JumpNet blockchain reached carbon negative status nine years ahead of schedule. In March, the company announced that it would enable climate-neutral NFTs by 2030.
“The development of new technologies should never come at the expense of the destruction of our environment,” said Maxim Blagov, CEO of Enjin. “Being carbon neutral for JumpNet is an important step towards our vision of a sustainable NFT ecosystem for Enjin and our partners.”
In addition to decarbonizing newly created tokens, Enjin’s environmental sustainability plan includes supporting the tokenization of the physical economy and the decarbonization of existing digital assets. Other measures include upgrading to carbon neutral nodes and promoting carbon reduction technologies.
Environmental concerns have practically hijacked Bitcoin’s narrative this year, with the likes of Elon Musk casting shadows over carbon-intensive mining. The Tesla CEO briefly welcomed Bitcoin earlier this year before deciding that BTC payments are no longer acceptable due to environmental risks. Now he says his company is ready to accept virtual currency payments if there is more evidence of sustainable mining.
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Other environmental sustainability efforts within crypto are also underway. As Cointelegraph reported, the Gemini exchange bought Tyler and Cameron Winklevoss carbon credits to help reduce Bitcoin’s carbon footprint. Separately, U.S. miner Stronghold Digital Miner recently announced that it had raised $ 105 million to divert waste coal for mining cryptocurrencies.