Jacob Collier was going to sell an nft that granted lifetime access to any of his concerts.
That seemed like a not terrible use case for an nft.
He changed his mind when people pointed out the environmental impact of cryptocurrency.
That seemed like a not terrible use case for an nft.
He changed his mind when people pointed out the environmental impact of cryptocurrency.
People can see the value created by a concert: the socializing, the experience. And they can take steps to mitigate the impact.
How do you mitigate the environmental impact of a proof of work blockchain?
Heard about the 1970's gas crisis, that there was a move to ban auto racing, because of the "obvious waste" of racing cars circling tracka at <5miles/gallon, and stadiums full of people.
Some studies were done. It turns out that auto racing didn't even make the charts in terms of fuel usage. What had the greatest environmental/fuel impact?
Bowling. Yup, bowling. Competition leagues meeting daily in every micro-town and neighborhood, all the driving to & from the lanes... A couple dozen cars driving several hundred miles at 5mpg, once in the nation each week for the top series, even with 10K cars, doesn't make a dent.
I'd expect concert tours, with a few big concerts per week, compared to constant heat generation of ETH miners is similarly gnat-on-an-elephant scale.
He didn't make the comparison, but his figures would put his entire touring history at ~2000 token transfers worth of emissions.
Leaving aside, you know, the cost of performing -- this involves creating and transferring a lot more than 2000 'tokens' which grant people access to those performances. Thankfully venues just handle those with a database.