One of the latest crazes that have taken over the world is the creation, selling, and buying of NFTs, with some in Singapore jumping on the bandwagon.
Simply said, NFTs are digital assets that can represent objects in real life such as art, real estate, music, etc.“Even Logan Paul has bought her collection,” The Sun wrote. Paul, who hails from the US, is one of YouTube’s biggest stars, with over 23.4 million followers.In January, Singaporean artist Hafiiz Karim, aka The Next Most Famous Artist, in one day sold over 100 pieces of art worth more than US$100,000.
The article underlines the “huge negative impact that NFTs have on the environment” coming at a time when the realities of global warming and other environmental problems have reached a crisis point. An average NFT is said to produce 211 kilograms of carbon dioxide into the atmosphere due to the process of creating and purchasing digital artwork.
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