The SWAY token is a new creator-owned, decentralized social media protocol that uses NFTs to translate social capital into an asset class. Clout.art is the first NFT marketplace and creator economy platform powered by SWAY.
The owners of Clout.art expect their users to mint and trade over 100,000 NFTs in their first year of operation. Thanks to Clout.art’s partnership with ImpactScope, all 100,000 of those NFTs will be carbon negative.
Clout.art founder, Jure Zih, is impressed with the carbon offsetting solutions offered by ImpactScope. “At Clout.art we understand that many of our users are concerned by the unintended negative environmental consequences of minting and trading NFTs. ImpactScope’s emissions reduction projects in South America, East Africa and Asia are audited to the highest possible standards. That’s important to us. Eventually we hope to connect to ImpactScope’s API. Then we can let our creators and customers choose which offsetting projects they want to support.”
Sean Murphy, ImpactScope co-founder, predicts a bright future for Clout.art and the SWAY token. “It’s an honour to be chosen as Clout.art’s sustainability partner. We took a deep dive into their alpha platform and we were blown away. Their tech is amazing and the platform is really easy to use. Clout.art is going to be huge and we’re delighted to be working with Jure and the team. It’s great to see their commitment to managing the platform’s growth in an environmentally responsible way.”
Even with increasing usage of second layer solutions such as Polygon, the carbon footprint of NFTs continues to be a source of great concern. In 2021 the total carbon footprint of all NFTs minted and traded will likely exceed 1.2 million tonnes. It would take 60 million oak trees one whole year to capture that much carbon.
ImpactScope is a Geneva-based social enterprise providing sustainability solutions to crypto enthusiasts, crypto miners and digital asset marketplaces.
ImpactScope help mitigate the unintended environmental consequences of Proof of Work consensus protocols by building real-time offsetting APIs for digital asset marketplaces.
Photo by Marek Piwnicki on Unsplash