A single click of a mouse sets off a chain reaction and sends a signal to mining farms around the world, which go on to have a footprint of 35 kWh for an ‘average’ transaction, with emissions of close to 20 KgCO2 for that single mouse click [...] An ETH transaction is thousands times more costly than other internet activities that individuals typically engage in. [...] Transactions relating to NFTs however, have more complexities involved.
A single NFT can involve dozens of transactions, and potentially more. These include minting, bidding, cancelling, sales and transfer of ownership.
This single NFT’s footprint is equivalent to a EU resident’s total electric power consumption for more than a month, with emissions equivalent to driving for 1000Km, or flying for 2 hours.