• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

Digital Market

seeing people behind the digits

  • About
  • Blockchain and Fintech Events
  • Domain Names
  • Reports
    • Technology
    • Venture Capital
  • Featured Listing
    • Make a Contribution
    • Submit a Sponsored Post
  • Contact

WAX Blockchain Builds a Better Planet One vIRL® NFT at a Time

June 8, 2021 By admin

WAX offsets 211 tonnes of CO2 and announces carbon neutral status, while revolutionizing how people create, buy, sell, and trade digital collectibles.

MIAMI – While other blockchains have rapidly become public enemy number one when it comes to the environment, WAX (Worldwide Asset eXchange), the world’s leading blockchain for NFTs, has been quietly making a massive impact on energy efficiency, sustainability, and CO2 reductions. This news sparks excitement for a technology in sore need of environmental allies.

According to ClimateCare.org, WAX has already offset 211 tonnes of CO2 (and counting) as of May 21, and energy consumption on the blockchain remains extraordinarily low at 0.000223 terawatts per year — officially making it the only carbon neutral NFT blockchain on the market.

When put into perspective, this amount of electricity has a carbon footprint of about 111 tonnes per year (1 kilowatt = 0.92 pounds of CO2 footprint). Also, the average person in the US has a carbon footprint of 20 tonnes per year, so the entire WAX blockchain has the same carbon footprint as a mere 5.5 individual Americans per year.

“It’s clear that not all blockchains are built the same,” said William Quigley, Co-Founder of WAX. “WAX was designed from the beginning to be exceptionally energy efficient. We use a tiny fraction of the energy that our competitors need to run much fewer transactions on a daily, monthly, and yearly basis.”

In fact, WAX is 125,000X more energy-efficient than its nearest competitor, while handling more than 11 million transactions per day. The secret to the blockchain’s success is its “Proof of Stake” system, which eliminates the need for an energy-sucking battle between supercomputers to complete a single transaction.

According to WAX’s most recent calculations, if all the vIRL® NFTs minted and traded to date on WAX were created on competing chains, an additional 4 million tonnes of carbon dioxide would have already been released into the Earth’s atmosphere.

Beyond maintaining a carbon neutral blockchain, WAX is working tirelessly to reverse the damage other chains are wreaking on the environment. Soon, customers will be given the power to purchase WAX Carbon Impact vIRL® NFTs — where for every $1 composted, a tree sapling will be planted by the National Forest Foundation. Each tree planted eliminates one tonne of CO2 over its lifetime.

“We’re serious about our role as stewards of the planet and are committed to making sure that WAX plays a significant and lasting role in ensuring the blockchain, NFTs, and the planet are here for many more years to come,” said Quigley.

This drives home WAX’s mission to bring NFTs to the masses in the most safe, secure, and environmentally friendly way possible. Learn more about WAX’s green blockchain and carbon initiatives at https://on.wax.io/co2/.

About WAX – The King of NFTs 
The Worldwide Asset eXchange™ (WAX) is the world’s #1 blockchain as measured by both the number of users and by the number of transactions, according to Dappradar.com. WAX is also the leading entertainment NFT network. In 2018, the company introduced vIRLs®, giving consumer product companies the ability to directly link NFTs to physical consumer products. Co-founded in 2017 by William E. Quigley and Jonathan Yantis, WAX delivers the safest and most convenient way to create, buy, sell and trade virtual items and physical products (NFTs and vIRLs®) to anyone, anywhere in the world. WAX has facilitated the trade of more than 100 million digital collectables including Major League Baseball (via Topps MLB collectables), Capcom’s “Street Fighter,” and world-renowned entertainers Deadmau5 and Weezer. For more information, please visit https://wax.io and follow along on Twitter and Discord.

About vIRLs®
WAX vIRL® NFTs are different from the standard NFTs you’ll find on other blockchains. Every vIRL® NFT is minted on the energy efficient and carbon neutral WAX Blockchain that puts the environment first. They feature a host of additional functionality including app/video game integrations, marketing tools and V-commerce capabilities — linking a vIRL® NFT to a real-world item so you can transfer ownership without needing to physically ship anything.

Source: Worldwide Asset eXchange (WAX)

Filed Under: News Tagged With: Blockchain, NFT

Primary Sidebar

App Coding

Dynamic forms for your React app
NLP techniques are bridging the gap between text documents
Scrub your code in real-time
monday.com Adds Built-In Monetization Solution to the apps marketplace
New app to help northeastern Illinois drivers avoid traffic and earn rewards for improving their commute
Creating an app that generates a description of an image using ChatGPT
Ondat 2.8 Arrives in GA with Increased Support for Stateful Workloads in Kubernetes

API Coding

Apiip Expand IP To Location API Services to Verify 1 million+ Requests A Month
Apiiro Extends Right from Code to Runtime To Help Developers Fix Risks Faster
Creating an API that generates a description of an image using ChatGPT
Neosec Introduces Industry First Expert Managed Threat Hunting Service for Detecting and Investigating API Abuse and Vulnerabilities
What is an API Gateway?
How to teach yourself API coding
API Security Guide

Secondary Sidebar

Blockchaining

The Fascinating World of Cryptocurrency
How safe are NFTs as digital assets
How a blockchain works?
Highlights: Blockchain Conference in Tel Aviv
SuperTeam Games Raises $10 Million to Create Sports Games Enhanced by Blockchain Technology

Marketing Development

How to correct a negative perception of your brand through a marketing campaign
Marketing budgets are on rise
What is prescriptive marketing?
How to create influencer marketing network
How to keep finding new ways for your business to grow

Footer

Recent Posts

  • What are cultural aspects of digital transformation
  • What it takes to make a digital town square
  • Idexo Releases New NFTMe Mobile App That Makes It Easy For Anyone to Turn Selfies Into NFTs and List Them for Sale with a Few Clicks
  • Evmos Closes $27M Token Sale to Accelerate Development of the Cross-Ecosystem dApp Platform
  • Countries with better FinTech development saw greater GDP resilience, employment during Covid-19: report
  • Moonshot Commons Raised Seed Round from HashKey Capital to “break geo-barriers” for the next Gen-Z founders in Web3
  • Umbro Enters Web3 With “The Nations’ Collection by Umbro”
  • GlobalConnect successfully raised EUR 1 billion in new ESG linked financing, enabling sustainable growth
  • Denmark has the best digital quality of life in the world
  • A license for a Bloomberg Terminal costs $24,000 per year, OpenBB is free

Media Instances

People in the Middle Ages bathed regularly, contrary to popular myth
AfroNouveau as Art Nouveau with African influences
Street scene in Florence, Italy
Want to learn more about Impressionist painter, Eva Gonzalès?
AWS Launches Infrastructure Region in Spain

S3H

What are legitimate remote desktop tools?
How is the economic downturn hurting the creator economy?
Baidu launching a ChatGPT-style bot in March 2023 will likely increase competition in the conversational AI market
What is the role of religion in the modern world
Student debt is disproportionately held by the richer half of the population

VPNW

How to address the root causes of stress for employees
The Benefits of Mindfulness Meditation
How to unleash the creativity inside your team
How to interrupt the frustration-stress-conflict cycle
How to challenge people inside the organization?

Pixel Effects

Sanctions Bite: Russian Oligarchs Feel the Squeeze
Beach Volleyball
Luxury Shopping
National Chicken Wing Day is coming
Figurine of the God Bes

Copyright © 2022 DigitalMarket.org

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT