Arthur Morris

Arthur Morris

England

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    Arthur Morris
    Arthur Morris
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    NFTs, the way of the future?
    on: April 15, 2022 at 6:55 am

    Without the environmental cost I’d be interested in NFTs as I think they’re an interesting way of demonstrating ownership of a digital image and monetizing its use in the long term. Monetizing it’s legitimate use that is – if people still want to copy and use the image without paying any licence fee etc they still can. At the end of the day, demonstrating ownership of an image whether through copyright or on the blockchain only means a damn if you have the money to defend that ownership through the courts should your rights be infringed.

    Tree planting sounds ok until you realise that they need to be growing for a long time in order to become effective reservoirs of carbon. You typically won’t start seeing any carbon sequestration happening for at least 10 years after they’re planted, and given that scientists generally agree that greenhouse gas emissions need to peak before 2025 at the latest, and be reduced by a quarter by 2030, even a tree planted today won’t be effective in the short term. And of course, if the forest burns down or the wood is burnt or left to rot at the end of its life, all that carbon is going to go back into the atmosphere.

    I’m not saying don’t plant a tree, far from it, I’m just saying that it shouldn’t be offered up in mitigation for certain actions in the present – e.g. ‘I’m going on a trip to Antarctica, but it’s ok I planted 100 trees’ – your trip to Antarctica might put a couple of tons of c02 in the atmosphere inside a couple of weeks. Those trees – if they survive drought, disease, infestation, mismanagement etc – might recapture that carbon, but it will probably take at least 100 years.

    Art

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