Our weekly crypto derivatives analytics report delves into macro events; the current state of crypto and trading signals from spot trading volume; and futures, options and perpetual contracts.

At the start of the week, Bitcoin showed signs of decoupling from US equities. However, US president Trump's positive remarks about the US-China trade war (which had included a 145% tariff on Chinese goods) triggered a relief rally across markets. As a result, BTC has resumed moving up with US equities. 

This rally has led to a rise in short-tenor implied volatility and a recovery in BTC’s put-call skew, indicating that traders are seeking upside exposure.

Please check out the report’s highlights.

Perp open interest rises across the board

Perpetual open interest increased significantly this week across various tokens, especially ETH. Perpetual trading volumes also rose. Notably, Ap 7, 2025 recorded the highest trade volume of the month, following Trump's comment, "Forget markets for a second, we have all the advantages."

BTC option open interest shows a mixed picture; put-call skew in short tenor sends positive signals

President Trump’s recent willingness to negotiate a trade deal with China’s President Xi triggered a relief rally across asset classes, including crypto. Bitcoin had already risen 7% since Apr 21, 2025, prior to Trump's comments. Despite this rally, open interest in puts has outpaced calls, with options volume remaining relatively balanced. 

It's unclear if the demand for puts reflects a hedge against downside risks, or a bet against the upward movement. Meanwhile, perpetual funding rates are providing limited insight into sentiment. However, the recovery of the put-call skew at short tenors indicates that traders are seeking upside exposure to the rally — and are willing to pay for it.

ETH unexpectedly outperforms BTC in this relief rally

ETH's response to the recent crypto market recovery has diverged from previous trends: it outperformed BTC in spot prices, a rarity in past rallies, and open interest in calls exceeds that in puts — opposite to BTC's trend. In addition, ETH call open interest is nearly double that of puts, with calls dominating options volumes. This suggests traders anticipate ETH will reduce its significant underperformance against both BTC and other “ETH killers” like SUI and SOL. Additionally, the spot rally has led to another term structure inversion for ETH.

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Bybit X Block Scholes crypto derivatives analytics report (Apr 24, 2025): Put-call skew recovers at short tenors, showing reviving sentiment

Explore all the hottest Bybit events happening during the week of TOKEN2049 Dubai in this article.

It’s that time of year again — TOKEN2049 Dubai is back, and the city is buzzing with excitement. As one of the most anticipated events on the crypto calendar, it’s not just about the main conference; it’s about everything happening around it, too. From side events and workshops to exclusive mixers and demo days, Bybit is showing up in full force this year. Here's your inside look at what to expect during this action-packed week.

The heart of TOKEN2049 Week, TOKEN2049 Dubai promises two full days of future-facing discussions and innovation in the world of crypto. At the center of it all is Bybit’s immersive booth experience, built on the theme 

. It’s not just a theme — it’s a vibe. Picture claw machines, 

If you’re heading to TOKEN2049 Dubai, be sure to drop by the Bybit booth (located at P33) and chat with our extraordinary Bybit team! And don’t miss your chance to grab a gacha token by scanning our QR code with Bybit Pay. You could walk away with exclusive Bybit merch! 

DMCC x VARA: Crypto regulations and business growth

Policy meets progress at this exclusive evening event co-hosted by DMCC and VARA. This gathering brings together regulators and industry leaders for an open discussion on the future of digital asset compliance and business growth in the region.

You can expect sharp insights, candid perspectives and forward-thinking dialogue about what it really takes to scale a crypto business in a regulated environment. If you care about the future of web3 in the UAE, this is one event to mark on your calendar.

Bybit After Hours: Exclusive Insights & Networking 

 is a private cocktail evening for top-tier traders and long-time supporters of Bybit. This event is equal parts networking, knowledge sharing and celebration.

 to strategic conversations with the Bybit team, this night is tailored to those who trade big and think bigger. With an invite-only guest list, it’s set to be one of the most exclusive experiences of the week.

The Crypto Hub x Bybit Crypto Ark Demo Day

 is all about bringing hands-on energy to the web3 scene. Hosted at the Crypto Ark inside Bybit’s office, this event welcomes founders, devs and crypto creatives for a casual evening of product showcases, idea exchange and light networking.

While Bybit provides the space, the real spotlight is on the community — those shaping the next wave of innovation in web3.

 from across the CIS region are gathering for a deep dive into the tools, tips and strategies that drive growth at Bybit. This meetup goes beyond surface-level sharing — expect actionable workshops covering our Bybit Affiliate program and affiliate best practices.

It’s also a chance to hear directly from Bybit product leads and regional managers, share success stories and walk away with fresh ideas to maximize conversions. 

Wunderbit x Bybit: “Hey, Trading Bot, where is my profit?”

 are here to stay — and this event is going deep into what makes them tick. Co-hosted by Wunderbit and Bybit, the evening workshop blends honest stories from real traders with expert insights on how to avoid common automation pitfalls.

From bot setups that work to the ones that quietly drain your profits, this is your chance to ask the tough questions, hear unfiltered answers — and maybe rethink how you’re running your own bot strategy.

 (RWAs) are taking center stage at the RWA Gulf Summit, a high-powered event co-hosted by Qatar National Bank, Commercial Bank International and DMZ Finance. This summit brings together bank leaders, wealth funds, participants in DIFC, institutional investors and industry pioneers to explore the evolution of tokenized finance in the Middle East and beyond.

Bybit’s Head of Financial Products Jerry Li will take the stage to discuss how 

 (CEXs) can harness RWAs for enhanced yield and 

Dubai's Pinnacle Mixer: Mantle, Mirana, Bybit and Ethena

High above the city, this mixer brings together some of the biggest names in web3 — Mantle, Mirana, Bybit and Ethena. Expect an unforgettable evening of casual chats, cross-chain connections and cocktails with the minds behind some of today’s most innovative projects.

This private event is all about experiencing Bybit Pay in action. See interactive demos, grab a sneak peek at upcoming partnerships and network over bites and drinks. It’s a rare behind-the-scenes look at the way Bybit is shaping the future of crypto payments. 

Wrapping up the week is the Bybit Institutional Symposium — a full-day event dedicated to aligning strategies with institutional clients and forging new collaborations. From macro views to product deep-dives, this conference is built to spark big conversations among serious players.

The day concludes with a gala dinner, a fitting finale to a week in which ideas, connections and innovation have taken center stage.

Intermediate

Bybit Learn Highlights What to Expect at Bybit

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Highlights: What to expect at Bybit (Apr 28–May 2, 2025)

Balance (EPT) is revolutionizing web3 gaming with evolving AI companions, blending blockchain, strategy, and intelligent gameplay in one powerful platform.

Artificial intelligence (AI) agents are a key growth area within the blockchain industry. Projects like Artificial Superintelligence Alliance (FET), 

 (AI16Z) and countless others have been essential components driving the overall crypto market. As of April 2025, the CoinGecko portal lists more than 500 cryptocurrencies within its category of AI Agents. These intelligent assistants are now helping individuals and businesses analyze markets, create textual and visual content, automate work processes and trade profitably.

There's a further area where AI agents on the blockchain are flourishing: the world of 

 gaming. In this sphere, bots and agents based on AI algorithms are helping users develop the best in-game strategies, succeed in the competitive world of play-to-earn (P2E) and overcome key challenges in complex gameplay.

Balance (EPT) is a blockchain gaming project that takes the use of 

 to a completely new level. The creation of the team at the world’s largest social gaming platform, E-Pal, Balance offers players AI agents that can aid them in the in-game environment and serve as their personal companions. Based on a multi-layer architecture, the platform offers some of the most cutting-edge use cases for gaming-oriented AI agents.

 (EPT) is a web3 gaming platform that allows players to easily create, own and use AI companions within the blockchain games it supports.

 Balance supports a variety of first-party (internally developed) and third-party web3 games. You can deploy your AI gaming companions and they’ll act as your assistants, friends or co-players within Balance games.

Using Balance.fun, the platform’s primary web interface, you can create your AI agents and specify various details, such as appearance, personality and functions.

Balance isn’t just another obscure crypto gaming platform. The origins of the project date back to 2020, when the E-Pal social gaming provider was launched by four young California-based technology entrepreneurs — Brian Xiong, Tung Pham, Yuzhe Norris Wang and Yuanzhe Li. E-Pal quickly became a leading force in the newly emerging social gaming field, helping players worldwide find gaming companions. By early 2024, E-Pal had become the world’s largest gaming companion platform, boasting 4.2 million users and 450,000 Epals (gaming companions).

In February 2024, the E-Pal team focused its efforts on 

 and AI technologies, starting the development work on the Balance gaming platform. In September of the same year, Balance went live.

Per the project’s documentation, the platform operates on its own chain, Balance Chain, with 

 (AA) technology used for cross-chain communication. The fungible and 

 (NFTs) held by user accounts are based on the 

A key part of the Balance ecosystem is Key Nodes — purchasable 

 that help with the processing, storage and distribution of data required in the resource-intensive environment of web3 gaming. Some applied instances are the management of real-time leaderboards and the automatic distribution of loot and in-game currency. These nodes can also support the computational requirements of training AI models. As a reward for their work in supporting the platform’s operations, Key Nodes receive a wide range of rewards and benefits, including distributions of EPT tokens, the platform’s native cryptocurrency.

As the ecosystem develops, Key Nodes are envisioned to be involved in governance, 

 launch in September 2024, Balance introduced its Points System, designed to reward early contributors to the platform. During the campaign run in September, users could earn points by completing various specified tasks in various activities, such as joining the project’s social media pages or commenting and reposting.

The 400 users with the best performance in the Points System earned a whitelist spot to receive Pioneer Badge NFTs — distinct tokens that provide owners with early access to games, future campaigns, airdrops and beta testing opportunities. Pioneer Badge NFT holders can also enjoy other benefits, such as premium NFTs and voting rights on the Balance platform.

Balance’s platform provides a set of tools to create and use intelligent companions for Balance-based games. You can design your AI companions by specifying their key traits and behaviors through custom prompts and strategies. The AI agents on Balance can assist you in battles, gaming contests, learning, routine task execution and interactive entertainment.

Balance’s platform is made up of five key layers, each one serving a specific purpose in supporting its user and developer communities. At the top of the architectural stack is the application layer, which acts as the main interface for users to interact with human and AI companions and the wider Balance community.

The application layer also contains the AI Battle Reporting System, which is designed to give users feedback and analysis tools on their performance in the platform’s gaming ecosystem. AI technology is leveraged here to provide personalized analytics and performance improvement recommendations.

A range of NFTs are also part of the layer. These include in-game asset NFTs, as well as 

 (SBTs) that serve as summaries of the holder’s achievements.

The platform layer hosts the various games within the Balance gaming universe. These include both internal games and third-party games that have partnered with Balance. The key concept uniting all of the games is the active integration of AI companions and AI players, making the platform a unique environment in which humans and AI agents play, interact and compete.

The platform layer also features an AI-driven NFT launchpad that offers a rich tool set for creating personalized NFTs for games and applications. These NFTs can be traded on Balance's NFT marketplace, which is also an integral part of the platform layer.

The protocol layer includes a trio of critical protocols — the Fans Protocol, Epal Fan Token (FT) Exchange Protocol and Asset Protocol. The Fans Protocol lets players launch and manage their Fan Tokens, creating opportunities for influencers and community builders to tokenize their efforts and launch high-potential crypto assets. Meanwhile, the Epal FT Exchange Protocol facilitates the management of (and trade in) Fan Tokens.

The third protocol, Asset, is used for the comprehensive management of a wide range of digital assets on Balance, providing easy-to-use tools for asset creation and trading.

The token layer is designed for core operations involving the platform’s native EPT token. This layer supports the use of EPT for in-game purchases, access to services and AI companions, Fan Token minting and trading, in addition to other functionalities.

This is the underlying infrastructural layer that powers the platform’s operational mechanism. It can be described as Balance's operating system, and is made up of several critical components: the node system, the Balance 

, the Balance Chain network and the platform's unique ID system.

The node system provides the computational and storage resources to power games and other functionality on Balance. In addition, the system acts as a key connecting medium between Balance Chain and the AA functionality that lets the platform enjoy cross-chain capabilities.

The Balance stablecoin, also part of the infra layer, is designed to reduce volatility and bring rate stability to the platform's gaming ecosystem. The Balance stablecoin system helps players engage in asset trading without the fear of wild market fluctuations, an important consideration in the 

Designed to support multiple chains, Balance Chain operates based on dynamic protocol adaptation, automatically selecting the optimal blockchain platform according to user preferences and needs. This dynamic adaptability is designed to reduce costs, improve operational speed and enhance overall security for users.

The final major component of the Balance infrastructure layer, the Balance ID system, is a unified and secure user authentication and identity management solution. To be introduced later in 2025, the ID system will let users access all services and games within the Balance ecosystem via a single set of cross-platform decentralized credentials. In addition to human players, also AI companions will have their unique IDs.

EPT is the native cryptocurrency of Balance. Although the platform has been operational since 2024, the EPT token was just launched on Apr 21, 2025, with a total and maximum supply of 10 billion. It was issued on two major blockchains — Ethereum and BNB Chain. EPT has a wide range of functional use cases on the platform, including the following:

The EPT token's supply allocation is per the chart below.

 as a swap pair with USDT, and through the exchange's 

 based on USDT. You can also take advantage of Bybit’s campaign dedicated to the token to grab a share of the 

Under the terms of the event, new users can earn EPT rewards by accumulating a deposit volume of at least 3,000 EPT, or by depositing at least 100 USDT and trading 100 USDT worth of EPT via their first spot trade with Bybit. Meanwhile, existing users can qualify for rewards by trading at least 500 USDT worth of EPT on Spot. The event is valid through May 5, 2025, 9AM UTC.

As of Apr 25, 2025, the EPT token has been on the market for only four days, and is trading at $0.0117, which is 26.4% lower than its ATH of $0.01708 on Apr 21, 2025, and 11.4% higher than its ATL of $0.01129 on Apr 22, 2025.

Long-term price forecasts for EPT are mostly bullish. DigitalCoinPrice 

 of $0.0412 in 2027 and $0.0615 in 2030, whilePricePrediction 

These and other emerging long-term forecasts for the token don't constitute investment advice. Given EPT's extremely short history on the market so far, 

 on the token's future prospects, carefully assess market fluctuations within the crypto gaming niche and consider all other relevant factors before investing in it or any other cryptocurrency.

Capturing emerging market trends and sensing the broader market conditions, the team at E-Pal recognized the tremendous potential of gaming companions back in 2020. Four years later, E-Pal realized that the new market dynamics in gaming called for something even more innovative — the use of AI companions, in addition to fellow humans. The resulting product, the Balance platform, is now racing to stake the claim to the best web3 gaming environment supported by AI agents.

The platform's unique features — cross-chain functionality supported by an AA mechanism, a dynamic exchange system that selects the best network for users' transactions and, most importantly, intelligent AI companions — can certainly help establish Balance as a leader in this niche of web3 gaming.

AI agents are taking the gaming industry by storm, with blockchain technology acting as a powerful enabler of these intelligent friends of ours. The Balance gaming universe — supported by the proven track record of E-Pal — has a great chance of becoming the go-to environment in which to befriend your next artificial gaming partner.

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Balance (EPT): Revolutionizing web3 gaming with evolving AI companions

Mantle has launched the Mantle Index Four (MI4), an institutional-grade fund providing diversified exposure to yield-bearing digital assets. 

The S&P 500 rose 2.03% on strong Alphabet earnings and optimism over a possible Fed rate cut. Gold jumped 1.5% to $3,338 as trade tensions rose and a weaker dollar, along with falling yields, boosted demand. Fed rate cut signals also supported the rally. The Coindesk Indices, which tracks the broader crypto market, rose 0.74%, with Bitcoin up 0.06% and Ether down 1.89%, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is INIT, up 15.4%, following the launch of Initia, which aims to revive the appchain concept with an interconnected network and an INIT token airdrop.

Initia (INIT), founded in 2022, is a modular blockchain platform that combines a Layer 1 network with customizable Layer 2 rollups, enabling scalable decentralized app development. It offers flexibility in virtual machines, gas tokens, and transaction systems, while ensuring interoperability and addressing issues like liquidity fragmentation and network congestion. Initia has 

 to revive the appchain concept by offering a network that integrates appchains in a cohesive, interconnected way. The platform emphasizes full-stack control for apps, avoiding fragmentation. Initia is also launching an airdrop with claims available until May 24, 2025. The native token, INIT, has a fixed supply of 1 billion, distributed across eight categories.

Check out the latest prices, charts, and data of 

, an institutional-grade fund providing diversified exposure to yield-bearing digital assets. In partnership with Securitize, which has tokenized over $3B in assets, the fund aims to fill a market gap by offering native yield generation in a traditional fund format. Mantle Treasury has committed up to $400M as the anchor investment. The fund will rebalance quarterly and incorporate DeFi-native staking strategies, such as mETH and bbSOL, while ensuring investor protections. MI4 targets both crypto-native and traditional investors, with Phase 1 rollout scheduled for Q2 2025.

Yesterday, BTC spot ETFs saw a total inflow of $114.7 million, all from non-GBTC funds, while GBTC recorded no flow.

Dolomite, the 10th largest DeFi lending app, is launching a 200M token 

 (20% of total supply) during its TGE on April 24, rewarding users based on platform usage. The DOLO token powers a three-token system alongside oDOLO and veDOLO, enabling incentives, governance, and potential revenue sharing. With over $800M in TVL, Dolomite expands to Berachain, integrating with its Proof of Liquidity system to offer advanced lending features and asset utility.

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Mantle launches MI4 fund for institutional-grade digital asset exposure and yield generation

Azuki, Bored Yacht Ape Club (BYAC), KIWAMI Genesis...These are just 3 of the hottest NFT collections right now. But did you know that there's a dark side to NFTs? We explore its environmental impacts in this article.

, with single digital assets commonly fetching prices in the millions of dollars.

For example, an animated image of the rainbow-shooting "

" sold for $660,000 in a blockchain sale, while musician 

In one of the largest NFT transactions to date, crypto artist 

 for the astronomical figure of $69.4 million.

A year later, top celebrities, brands and influencers have hopped on the NFT bandwagon, leveraging this space to buy and create their own NFTs. While NFTs are taking the crypto world by storm, however, few people are discussing the negative impact they could have on the environment.

This article will take you through the concept of an NFT, the ongoing speculations about unsustainable energy consumption in the NFT domain, and environment-friendly options for buying NFTs so traders can make more well-informed choices.

An NFT is a unique and collectible digital asset that represents real-world objects, such as 

 and GIFs. One-of-a-kind assets that cannot be exchanged or replaced unlike 

 tokens (or fiat currency), NFTs are often purchased and sold online with 

. Validated and stored using blockchain technology, NFTs hold value the same way physical assets do. Essentially, the owner of an NFT is buying a verified token that serves as digital proof of an asset's authenticity and ownership.

NFTs are making an especially powerful impact on the virtual gaming space, with 

 offering unique NFTs as rewards for participating and 

. In the art domain, NFTs enable digital artists to release collectibles that cannot be copied, thus giving them the credit they deserve — and greater peace of mind.

As mentioned earlier, an NFT comprises a unique and non-interchangeable unit of data that proves 1) the authenticity of the asset and 2) the ownership of the person in question. This data is stored on a digital ledger using blockchain technology. When an NFT is listed on a crypto marketplace, the creator of the NFT pays a "gas fee" (or transaction fee) for using the blockchain. This digital asset is then recorded on the

, with the creator's address as the owner of that particular NFT. NFTs can have only a single owner at a time, and ownership cannot be edited or modified by anyone.

NFTs: A Timeline — and the Surrounding Controversy

The main issue with the minting of NFTs is the release of carbon emissions that contribute to greenhouse gases and lead to global warming.

NFTs gained momentum in 2014–2015, when members of the art community — who were initially enthusiastic about owning and selling their own unique NFT art pieces — began voicing their concern about the energy impact. As a result, many artists dropped out of the space and began looking for more sustainable alternatives. Several also claimed they would offset the damage caused by their NFT drops by investing in climate-saving schemes.

Various websites and studies were set up to calculate the energy consumed during the NFT minting process. In 2014, a site called 

 began to help consumers calculate the energy and carbon footprints of

 revealed that cryptocurrency mining required for the NFT process consumes more energy for every dollar of value generated, as compared to the physical extraction of gold or copper. 

In 2021, a montage of art turned into an NFT by the digital artist Beeple sold for more than 

. Calculations showed that creating the 300 items of digital art which Beeple had planned to sell would have burned through 

How Much Energy Does it Take to Trade NFTs?

Let's look at the example of the Ethereum platform, on which most NFTs are based. Every transaction on the Ethereum platform consumes approximately 48.14 kilowatt-hours (

) of energy. To put this into perspective, a single Ethereum transaction consumes the energy equivalent of an average American household in 1.5 days. Other NFT transactions can be even more energy-intensive. For instance, the sale of two digital tokens by an 

creator was estimated to consume over 175 megawatt-hours (MWh) of power. For context, that's the equivalent of greenhouse gases emitted by a single U.S. household over a period of 21 years.

Why Does Trading NFTs Require So Much Energy?

Contrary to popular belief, creating an NFT doesn’t consume much energy. Rather, it’s the process of 

 it which is energy-intensive. The proof of work (

) consensus algorithm, used by many blockchain platforms to verify transactions, is the main reason behind high energy consumption. Let's take a look at the process of trading an NFT in order to understand the reason behind the increased energy utilization:

The mining process is a necessary step to introduce new crypto coins into circulation and maintain a record of transactions on the distributed ledger. The PoW model keeps transactional data secure in a distributed ledger, as it isn’t owned by a single entity.

These complex computational puzzles consume high levels of energy; however, PoW is used as a security measure on the blockchain network to prevent malicious actors from exploiting the transactions conducted. Other related activities — such as bidding for the NFT, the selling process, and the transfer of ownership of these digital tokens — also contribute to the ongoing energy consumption. 

This question can be approached from two perspectives, which we will cover below.

The process of minting unique digital assets and selling them in the crypto space requires massive computing power, which inevitably results in greenhouse gas emissions. With regard to networks that use PoW, many people consider NFTs harmful for the environment, as they emit more carbon than networks that use a 

No: There’s No Definite Way to Calculate the Amount of CO

It’s difficult to point out the exact amount of energy released during the minting process of an NFT because of the many steps involved in the process that don’t have a known carbon footprint. There are also varying views about how much energy is released through the production of NFTs. 

 estimates that a single Ethereum transaction's carbon footprint is 33.4 kg CO

 estimates an NFT transaction has a carbon footprint of about 48 kg CO

. (Editor’s note: Every time an NFT is minted or sold, it's counted as a whole new transaction.)

Let's not forget that other industries contribute to global warming as well. For instance, the airline industry emits more than 2.4% of global CO

 points out that a round-trip flight from London to San Francisco emits 5.5 tons of CO

) per person — more than twice the emissions produced by a family’s car in a year.

You can choose to do your part for the environment and opt for cleaner technologies, while purchasing and selling NFTs. Following are a few criteria to be mindful of.

Proof of Stake (PoS) Instead of Proof of Work (PoW)

Opt for blockchain networks that use a PoS algorithm instead of a PoW algorithm. In the case of PoS, validators can verify legitimate transactions without needing to solve complex mathematical puzzles. This algorithm considers the number of coins staked by a validator. These coins are then offered as collateral for a chance to validate blocks and to keep transactions secure. Once a transaction is made, the blockchain algorithm randomly selects validators based on the amount of their stake, and rewards them with network transaction fees. The PoS model requires less processing power, thus leaving a smaller carbon footprint than the PoW method.

Reducing the Total Number of Transactions

Another way for NFTs to be made more sustainable is to reduce the number of transactions required on a blockchain. Not all transactions need to be on the same blockchain. For instance, NFT auctions can be conducted on 

, and then be sent to the blockchain via a batch process.

 refers to the concept of minting an NFT only after it’s been sold. Typically, marketplaces let creators mint artworks even before putting them up for sale. The downside is that this takes up space on the blockchain, and wastes energy for assets that may never sell. Lazy minting ensures that an NFT only consumes energy for minting when necessary.

Many energy-efficient blockchains are taking measured steps to lessen climate change and global warming by reducing greenhouse gas emissions. Here are three platforms from which traders can purchase energy-efficient NFTs.

 is an NFT-optimized network that functions as an Ethereum sidechain, operating independently of, and in parallel to, the Ethereum mainnet. As an Ethereum sidechain, the Palm network provides access to the Ethereum network. It enables assets to be transferred back and forth through a consensus method that prioritizes sustainability, with a close-to-zero carbon footprint.

, which is eco-friendly and enables carbon-neutral minting with zero gas fees. Thanks to its 

 consensus algorithm, EOSIO is energy-efficient and doesn't incentivize server farms for constant mining activities. Overall, NFTs built on this platform are much more sustainable than those of other platforms.

, a carbon-negative blockchain. This assures users that the NFTs they purchase are 

, as they’re created with less energy consumption.

 for more options on environmentally-friendly NFTs. Bybit houses rare NFT art and gaming pieces, including characters/avatars/weapons from top creators such as 

The Future of NFTs (& Potential Solutions)

NFT creators are starting to become more energy conscious, and taking into consideration the repercussions of their actions on the environment. Take the example of 

, a French artist who reflected on his decision to sell six NFT art pieces on the blockchain network in its aftermath. The sales were estimated to consume 8.7 megawatt hours of energy, the rough equivalent of two years of energy use in Lemercier's studio. After learning about his energy consumption and potential carbon footprint, Lemercier bit the bullet and canceled two planned drops, tentatively priced $200,000 in total.

If marketplaces for NFTs don't start to take calculated steps to reduce their energy consumption, we’ll begin to see artists opting for other NFT marketplaces that use cleaner cryptocurrencies.

 or "carbon negative" assets to completely offset emissions by investing in renewable energy, energy conservation projects, or sustainable technology that will help reduce pollution in the atmosphere.

NFT creators will also do their due diligence before entering marketplaces that follow the PoW method. Instead, many will choose to use energy-efficient PoS networks that reduce hardware requirements to become a validator and enable miners to earn money by 

 in the network to solve complex mathematical problems.

Because they guarantee opportunities for artists and influencers in the industry, NFTs are here to stay. Profits made through NFTs in the crypto world are rising exponentially. As more NFTs are minted, bought and sold, the energy needed to power these transactions is expected to increase accordingly.

However, one reassuring trend we’re seeing is more people opting for cleaner and greener NFTs in a bid to undo the damage caused by NFT-related emissions. With developments in technology occurring at breakneck speed, it’s not far-fetched to say that energy-saving technologies may be developed to reduce the harsh environmental impact of NFTs, resulting in a future that's more sustainable overall.

What Is the Impact of NFTs on the Environment?

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