- The firm claims its NFTs are “100% carbon neutral.”
- The drop begins on October 6th with Lil Nas X.
While it’s hard to distinguish billions in cryptocurrency speculation from prospective infrastructural changes, several major tech firms are putting their toes in the sector and indicating future involvement.
TikTok, or Douyin in China, is a video-sharing social networking website owned by ByteDance. It has user films ranging from 15 seconds to three minutes in length, in categories such as dancing, humor, and education.
It’s TikTok’s turn. In addition to Lil Nas X, Grimes, Bella Poarch, Rudy Willingham, and Gary Vaynerchuk, the fast-growing social media site has planned its NFT release.
Immutable X Claims Carbon Neutrality
Unique and limited edition NFTs appear to be more about creating excitement within the current NFT community. Then exposing app users to non-fungible tokens.
Using Immutable X, a Layer-2 scaling solution for Ethereum. The firm claims its NFTs are “100% carbon neutral.” The drop begins on October 6th with Lil Nas X and continues until the end of the month. It’s evident that the business, which hasn’t demonstrated the same degree of interest in NFTs as platforms like Twitter and Facebook. Thinks the area is worth exploring.
While “owning” a viral TikTok may be thrilling. It is crucial to consider the environmental effect. By design, NFTs and other blockchain-based applications may consume a lot of energy.
Immutable X claims carbon neutrality for the NFTs helps TikTok mint. But not all NFTs are equal. Similarly, whether you “own” the video NFT you buy depends on the security of the storage location. After Beeple (Mike Winkelmann) sold an NFT for $69 million earlier this year. Dozens of other artists, musicians, actors, and ordinary people sold NFTs.
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