One of the biggest stories to hit the tape in the NFT industry today has to do with Aorist and Miami Art Week. As part of the event, Aorist, a cultural organization focused on sustainable NFT-based artist commissions, launched its first round of commissioned artworks. Shortly after the launch, an auction took place at the Faena Hotel in Miami Beach, selling the works for as much as hundreds of thousands of dollars.
So, what’s the big deal?
The auction is following an ongoing trend seen in the non-fungible token community, a trend where digital artworks are being sold in an attempt to improve environmental and social conditions around the world.
Aorist Looks to Improve Environmental Conditions
You see, Aorist’s marketplace uses Alogrand, making it one of the most sustainable platforms online today. Alogrand provides a carbon negative blockchain infrastructure, meaning that it results in more greenhouse gasses being taken out of the environment than energy consumption requires to be put into it. It’s about as green as green gets.
As the organization’s platform runs, carbon credits are purchased, credits that will benefit reforestation projects in South America with each transaction conducted.
Moreover, the blockchain the collection lives on isn’t the only way the collection is leading to positive changes and environmental friendliness. Proceeds from select pieces in the collection were handed to ReefLine, a non-profit that aims to build a habitat for endangered reefs off the coast of South Beach.
One of the pieces, an NFT depicting Anadol’s Machine Hallucinations: Coral Dreams artwork, was part of the program to benefit ReefLine, driving a price tag of $851,130! Two other pieces in the collection sold for $100,000 while others sold for between $10,000 and $50,000.
Addressing Environmental Concerns Associated with NFTs
Recently, we talked about the debate centered around whether or not NFTs are bad for the environment. While some live on high energy consumption blockchains, the simple fact is that as the industry evolves, we’re likely to see more and more carbon-neutral or carbon-negative blockchains popping up.
So, projects like Anadol aren’t just helping the environment with proceeds from sales, they’re representing a pivotal shift in the NFT industry, one that will result in environmentally-friendly systems that will likely not only exist without detrimental effects, but improve the environment in the process.
Aorist Isn’t the Only Project Looking to Change the World
The simple fact is that NFTs are good for the world as a whole. There are several projects looking to make a positive impact on the world. Some of my favorites that I’ve come across include:
The Amelia Peláez Foundation
Amelia Peláez was one of the best Cuban artists that ever lived. Unfortunately, she made a name for herself as the Fidel Castro Regime started to make its way across Cuba. Soon, her artwork, a staple in Cuban culture at the time, was seized by the regime.
To this day, Amelia’s art is held hostage by the Cuban government, who has, on countless occasions, released unauthorized prints and even forgeries.
The Amelia Peláez Foundation seeks to change that. Launched by a descendant of Amelia, Carmen Peláez, the foundation has announced an NFT project aimed at liberating Cuban art from the regime while improving freedoms for the Cuban people.
Sotheby’s Twitter NFTs
The world-class auction house, Sotheby’s, recently auctioned a collection of 140 Twitter-related NFTs. The collection, known as Gifted: The 140 Collection, was sold to generate proceeds for Sosento, an organization that works to support public health workers that spend their days on the frontlines.
The organization specifically gained steam as the spread of COVID-19 took hold.
Macy’s Thanksgiving Day Parade NFTs
Finally, Macy’s, a staple department store in the United States, hosts the Thanksgiving Day parade every year. It’s so popular that spectators go to New York from all over the country to see it live.
Well, this year, Macy’s gave a ton of free NFTs away to spectators of the parade. However, there were a few unique tokens in the collection that the company sold. The proceeds from sales benefited the Make-A-Wish Foundation, a foundation dedicated to granting the wishes of terminally ill children.
The Bottom Line
The bottom line here is simple. NFTs aren’t worthless digital tokens that starve the world of environmental resources. No, these digital tokens represent real value, and when they sell, the proceeds from sales often go to charitable causes in an attempt to improve both environmental and social conditions. All told, these collectibles are slated to do quite a bit of good for the world.