Sotheby’s is auctioning off anthat can be destroyed if the average global temperature rises 2 degrees centigrade (35.6 degrees Fahrenheit) above pre-industrial levels.
The NFT, Two Degrees, is a 20-second video of a 3D scan of a forest in southern Germany with a self-destruction warning superimposed on it.
— terra0 (@_terra0) May 27, 2021
“Just as the real forest will disappear as soon as a certain threshold in global climate change is passed, so will the NFT,” said the decentralized autonomous organization (DAO) that minted the NFT, terra0, in a description accompanying the lot, which closes on June 10.
The NFT’s oracle to monitor the global temperature that NASA publishes in its annual reports.uses an
Scientists expect that global temperatures will rise by two degrees by 2062 if the historical warming trend over the past 30 years continues. Should that happen, the NFT’s smart contracts allow anyone to “burn” it. The DAO describes it as a “hedge against annihilation.”
Since crypto’s impact on the environment is a common criticism, burning an NFT may, at first glance, appear to add insult to an injured Earth.
However, according to the Ethereum Foundation, the non-profit that oversees the development of the network.upgrade to a proof-of-stake consensus mechanism in the next few years should reduce its environmental impact by 99.5%,