Green NFTs: A Study on the Environmental Impact of Cryptoart Technologies. (arXiv:2202.00003v2 [cs.CR] UPDATED)

We introduce a model of greenhouse gas emissions due to on-chain activity on
Ethereum, focusing on cryptoart. We also estimate the impact of individual
transactions on the environment, both before and after the London hard fork. We
find that with the current fee mechanism, spending one dollar on transaction
fees corresponds to emitting at least the equivalent of 1.151 kilograms of CO2.
We also describe several techniques to reduce cryptoart emissions, both in the
short and long term.

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