Blockchain platform Algorand Affiliated with Envision Racing A series of NFTs ABBFIA Formula E Electric race series.
Each of 1,000 limited edition NFTs designed by 3D artists Adams backpack And creative agency Fun dayShows a helmet that represents one of the eight locations hosting the ABBFIA Formula E race.
“For us, there’s nothing like a helmet that tells the story of a driver’s journey,” said Matty Schwartz, Creative Director of Funday. Decryption.. Schwartz said each of the eight NFT designs “sees the iconic visuals of each region” and the graphics depicting local leaves “show our desire to create a healthier planet.” It grows on top of the visuals. “
NFTs can be created the week before each race. On race day, the City Edition Helmet NFT will be unveiled, giving you the chance to win a unique special edition.
One of the lucky owners can reveal a Gold NFT that qualifies you to claim a one-on-one physical racing helmet with art inspired by the City Edition helmet. An additional 9 silver NFTs can be published and owners can request an infinite object digital frame with NFTs.
Formula E fans will also have the opportunity to collect all eight City Edition helmets and win the 2023 “Ultimate Formula E Racing Experience” award.
What is Formula E?
Launched in 2014, the ABBFIA Formula E series is an electric vehicle motorsport championship. In 2020, the series won FIA World Championship status and became the first single-seater racing series to win World Championship status outside of F1.
It is also a pioneer in the transition to electrification, both in the world of motor racing and in the world of broader transportation. Formula E CEO Jamie Rygle prior to the COP26 meeting Towards The “important role” of motorsport in promoting technological development that can be applied to everyday use. Formula E “acts as a powerful platform to showcase innovative transportation solutions for a sustainable lifestyle,” said Rygle.
Algorand is tackling the energy consumption issue of blockchain and cryptocurrencies, just as Formula E aims to bring sustainability to the forefront of the world of motorsport.Where are the major cryptocurrencies Bitcoin When Ethereum Use something that requires infamous energy Proof of work The consensus mechanism, Algorand, uses the new Pure Proof of Stake (PPoS) model, which claims to be the “most environmentally friendly blockchain.”
Algorand claims that the final transaction of the PPoS blockchain produces about 0.0000004 kg of CO2, while the Bitcoin transaction produces 338 tonnes of CO2. Bitcoin blockchain also consumes an estimated 87 terawatt hours of energy per year. Cambridge Bitcoin Power Consumption Index— —Than many small countries.
Make NFTs Sustainable
Talk to Bloomberg Earlier this year, Staci Warden, CEO of the Algorithm Foundation, explained that the energy consumption of the proof of work blockchain would be a disadvantage for US companies. “For companies that need to be environmentally friendly and know that they need to meet their ESG goals, it is unacceptable to put a large company on a blockchain that consumes a lot of energy.” She said.
She emphasized the example of the World Wildlife Fund. Abandoned The NFT was launched earlier this year after being faced with criticisms about its environmental impact. WWF NFT polygonA proof of stake blockchain, she points out that environmentalists are “armed” for the fact that Polygon is built on top of the proof of work Ethereum blockchain. did. “The World Wildlife Fund needed to get the NFT back, and the people who bought it were angry. It was all messed up,” she said. “And that’s because the World Wildlife Fund didn’t choose a carbon-negative layer 1 blockchain like Algorand.”
To maintain a carbon negative footprint, Algorand Various initiatives Includes a partnership with Climate Trade to reduce carbon emissions. As part of the “Race Against Climate Change” campaign, Algorand and Envision Racing donate all proceeds from NFT sales to mangrove tree planting in Madagascar.
As part of its broader commitment to sustainability, the Algorand Foundation has partnered with projects such as SailGP and Climate Ride to build partnerships with environmentally friendly blockchain projects such as Global Carbon Holding and Planet Watch. Algorand is also eye-catching to promote sustainability awareness by buying signs at Times Square and turning them off to emphasize energy consumption and by creating air purification signs in Berlin. The initiative has started.
Eventually, Said Algorand creator Sylbio Mikari says sustainable blockchain is an essential tool in its mission to generate financial inclusion. “Unprivileged people first suffer from environmental deterioration,” he said. “A blockchain that is bad for the environment is a bad blockchain.
For more information on the Envision NFT series, click here.. To learn about Algorand’s environmental initiatives click here..
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