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Could GameFi and carbon currency help cryptography overcome its environmental standard divition?

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  • May 25, 2022
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Rob Schmitt of Toucan System contends that if games included renewable power, blockchain gameplay would have a far cleaner and greener image.

Nonfungible tokens (NFTs) and blockchain networks have a bad reputation among some members of society for being bad for the planet, but might this be altered by including green technologies in NFT gaming?

NFTs and playing are combined in GameFi or gaming economics. As per app monitor DappRadar, cryptocurrency games generate approximately $12 million in regular market cap from over a million players. Rob Schmitt, COO of Toucan System, believes that capacity and consumers may be used to assist the ecosystem.

Carbon reduction as a component in cryptocurrency gaming, according to Schmitt, may create “the most eco-friendly mechanism we’ve ever seen.” He anticipates a GameFi realm where carbon credits are used as in-game revenue, and he encourages game developers to think outside the box.

“A tournament’s ecology doesn’t have to be based entirely on subsidies,” he said, “but it should be incorporated logically.” According to Schmitt, crews of game developers are already collaborating with Toucan to incorporate renewable power into their games, such as Atlantis World.

“With reducing emissions, we can turn back the perception that ‘blockchain technology is hurting the planet.'”

On the Polygon (MATIC) platform, the Toucan System changes the value of verified renewable power as Base Carbon Tonnes (BCT).

As gaming company Space Ape Games, which released Fastlane, went carbon-neutral in 2019, the desire for entertainment firms to go greener is increasing. According to Green Geeks, game producers SuperCell, Rovio, and Sybo are reducing their carbon pollution.

The traditional console sector frequently propagates the notion that blockchain systems are highly polluting. Last October, the popular online gaming platform Steam prohibited any games that used NFTs or cryptocurrencies. Itch.io, a game developer, posted in February that “NFTs are a swindle” and are only good for “the ruin of the earth.”

That pessimism reveals a lack of understanding of carbon pollution related to various compromise methods. The Proof-of-Stake (PoS) agreement mechanism is employed by the Polygon system and a variety of other NFT and playing games networks, which implies that energy and ecological effects are considerably reduced.

According to Cointelegraph, the Polygon group believes in creating a system that is sustainable for the current year. Wax (WAX), Solana (SOL), and BNB Chains are three other cryptocurrency technologies that offer NFT gaming and have low or no carbon output (BNB). The Merge of Ethereum (ETH) to PoS is scheduled to happen in the following months, with August being the most estimated cost.

While universal environmental awareness is a lofty aim, Schmitt recognizes that “climate change action does not have to be all.” Moreover, players do not need to be conscious that the activities they participate in are potentially carbon-free, because it takes little activity on their side to make a difference. Schmitt explained:

“The overwhelming number of players will have nothing to do with global warming, but just a small percentage of them will be required to accomplish a huge amount of good.”

He claims that game makers do not need to make environmental advocacy their primary emphasis, particularly if they are currently working on climate-friendly blockchain technology.

“Programmers should prioritize producing enjoyable games firstly, and carbon offset features may help them reach new viewers.”

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