The World Wildlife Fund has canceled its NFT project after only a day

The World Wildlife Fund UK has ended its NFT project 'Tokens for Nature' in response to criticism over its environmental impact.

Published Thu, Feb 10 2022 5:02 AM CST   |   Updated Tue, Mar 8 2022 5:39 PM CST

The World Wildlife Fund UK (WWF-UK) has back-pedaled its recent NFT project launch.

The World Wildlife Fund has canceled its NFT project after only a day 01 |

The WWF-UK launched an NFT collection dubbed "Tokens for Nature" last week in an effort to support conservation work, and following immediate controversy and backlash, the group has since decided to "bring [the NFT] trial to a close." The NFT project used the Polygon blockchain, based on Ethereum, but supposedly more environmentally friendly.

"We thank all of those who have generously supported our conservation work by purchasing NFTs. We have now agreed with our partners to bring this trial to a close this evening (Friday 4th February). We recognise that NFTs are a much debated issue and we all have lots to learn about this new market, which is why we will now fully assess the impact of this trial and reflect on how we can best continue to innovate to engage our supporters," the WWF-UK wrote in a statement.

Digital currency economist Alex de Vries estimated that a single transaction on Polygon pollutes the environment by almost 2,100 times what was initially estimated on the WWF website. Polygon, a Layer 2 blockchain, still interacts extensively with the Ethereum network to generate a large carbon footprint. de Vries estimates that close to 430 grams of carbon dioxide are produced from a single Polygon transaction, compared to the WWF's claimed 0.207 grams.

"While Layer 2 solutions can be seen as independent networks, they still rely on the security of the underlying Layer 1 network and therefore its electricity consumption and carbon footprint," said Ulrich Gallersdorfer, CEO of Crypto Carbon Ratings Institute told The Verge.

The World Wildlife Fund (WWF) Germany is still running it's "non-fungible animal" (NFA) project. A WWF Germany spokesperson told The Verge "for us it was never about the funds. It was about raising awareness regarding the species extinction."

Buy at Amazon

NFTs for Beginners: Making Money with Non-Fungible Tokens

TodayYesterday7 days ago30 days ago
* Prices last scanned on 5/22/2022 at 11:10 pm CDT - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.

Adam grew up watching his dad play Turok 2 and Age of Empires on a PC in his computer room, and learned a love for video games through him. Adam was always working with computers, which helped build his natural affinity for working with them, leading to him building his own at 14, after taking apart and tinkering with other old computers and tech lying around. Adam has always been very interested in STEM subjects, and is always trying to learn more about the world and the way it works.

Newsletter Subscription

Related Tags

Newsletter Subscription
Latest News
View More News
Latest Reviews
View More Reviews
Latest Articles
View More Articles