ConsenSys Brands Ethereum Merging With Green NFTs Cryptocurrency News

The development company will provide a free collection of NFTs release called “Regenesis”.

The central theses

• Ethereum Development firm ConsenSys has announced a series of NFTs to mark Ethereum’s upcoming merge.
• Ethereum’s move from to proof-of-stake will reduce energy consumption, a fact reflected in ConsenSys’s green NFTs.
• In recent years, Ethereum-based NFTs have been criticized for their reliance on energy-intensive mining.

That BlockchainDevelopment company ConsenSys has announced a series of green NFTs to commemorate Ethereum’s upcoming merger.

ConsenSys announces NFT line

ConsenSys is releasing a series of green NFTs to celebrate the merger.

The company announced on Thursday, September 1st that it will be releasing a collection of NFTs called Regenesis. ConsenSys says the NFT collection “examines the scope and importance” and “focuses on the key benefit of the merger: sustainability.”

ConsenSys noted that Ethereum’s move to proof-of-stake will reduce the blockchain’s carbon footprint by 99.95%, which is in line with estimates by Ethereum developers last year. With this change, the Ethereum network will be about 2000 times more energy efficient than it is today.

The collection of NFTs will feature artwork created by Chris Skinner and animated by KeithCity Group. The blockchain marketing agency Invisible North was involved in the design.

ConsenSys will start minting the NFT at 13:00 UTC on the merge date and allow minting for 72 hours.

NFT minting is free except for gas or transaction fees, and users can mint as many NFTs as they like. Ethereum contributors who are part of the Protocol Guild will also receive an airdrop with a collection of limited edition NFTs.

NFTs have historically been criticized for being environmentally unfriendly because the Ethereum blockchain relied on energy-intensive mining.

Companies and brands like Ubisoft, the WWF, Minecraft, Discord and Sega have received backlash over the past year after announcing plans to release NFTs. Kickstarter, which opted for Celo’s energy-efficient blockchain, also faced criticism.

ConsenSys pursued energy-efficient NFTs in 2021 when it launched the Palm ecosystem with Ethereum.

While Ethereum’s move to proof-of-stake will virtually eliminate the environmental impact of NFT minting, it’s unclear if this will be fully acknowledged by the public given the notoriety of past controversies surrounding the topic.