The blockchain game The Sandbox will reduce its carbon footprint by more than 99% by going to the Polygon sidechain, thus confirming its environmental commitment. This transfer is coupled with partnerships with environmental protection companies and associations such as Offsetra, Nori or WeForest .
Polygon, a greener alternative
The Sandbox has just announced its switch to Polygon’s sidechain. The transfer is scheduled for this summer and will use up to 100x less energy than Ethereum blockchain !
Why Polygon ? Because according to The Sandbox estimates, blockchains Proof of Work, such as Ethereum before its switch to 2.0, can consume an annual quota of 35 to 140 TWh of electricity, with a continuous drawdown of 3 to 15 gigawatts (GW) of electricity. On a real scale, 1 GW could power 300,000 homes, light 110 million LEDs.
While Polygon as a blockchain Proof of Stake consumes about 0.00079 TWh of electricity per year, or an approximate continuous consumption of 0.00009 GW.
Thanks to this integration, the speed and profitability of the game will improve massively ! Because this update will drastically reduce the energy consumption of The Sandbox.
Here are some examples :
- Transferring an NFT from one user to another will approximately amount to sending a email
- Selling any type of NFT will consume less energy than it takes to watch a 2-hour movie
- The purchase of a parcel of $ LAND will now equate to 30 Google searches
- the mint of NFT on Polygon will generate less than 1% of the carbon emissions it currently produces on the standard Ethereum blockchain.
Offsetting credits to combat the impact of carbon
The Sandbox also started l‘acquisition of Carbon Credit via blockchain-based marketplaces such as Nori or Offsetra. The purpose of these is to offer an opportunity to offset carbon emissions while providing transparency on this offset.
“The Sandbox team is attentive. They see that this is not a zero-sum game; we can innovate in technologies like blockchain and take care of our environment. The days when companies defined success solely by bottom line are now outdated ; we must consider the double bottom line : profits and impact, as The Sandbox does.”
Alexsandra Guerra, co-founder of Nori.com
The company calculated that its NFT-associated carbon footprint for 2021 was equivalent to 350 tons of CO2 and has already acquired carbon credits in this direction.
The goal of The Sandbox is to set the standard for transparency and best practices in the NFT world and encourage healthy discourse about the tools that can be used to reduce the environmental impact of the use of NFT and blockchain technology.
That is why the company bought more than 200 tons of CO2 offsets from Offsetra
200 000 kg of CO2 equivalent to :
- 🍔 50,000 cheeseburgers
- 🐄 90 cows (annual emissions)
- 🚙 500,000 driving miles (average passenger vehicle)
- 💳 15,698 Ethereum transactions.
“Our team of crypto natives is excited to help The Sandbox reduce emissions and advance sustainability in unique metavers like their own. One of the co-founders of Offsetra, Damien Schuster, was one of the first buyers of LAND !”
Andrew Bonneau, advisor in carbon markets at Offsetra.
Virtual terrains for the restoration of well-physical forests
The Sandbox has renewed its collaboration with WeForest, a forest restoration charity with which it had already partnered in 2014 to plant nearly 9,000 Mangrove trees in Madagascar. The company is committed to for every hectare of LAND purchased in The Sandbox, 1% of the proceeds go to WeForest to protect and restore forests in Ethiopia, Zambia and Brazil.
An NFT Marketplace in Alpha phase
In the meantime, the Sandbox has recently launched the beta version of sa Marketplace NFT, allowing artists to monetize their NFTs. The company is committed to reduce the number of copies of minted NFT while improving the technical functionality of the Marketplace.
To support artists, it will still be possible for them to create NFT while waiting for the update to Polygon.
“The Sandbox is committed to building a vibrant and environmentally friendly ecosystem while fully supporting secure ownership for players and creators, creating new jobs and providing economic opportunities.” “As a pioneer in the blockchain gaming space, we are taking steps to mitigate energy consumption by up to 99% right now, and we will continue to look for additional technical solutions.”
Sébastien Borget, COO and co-founder of The Sandbox
The Sandbox is also considering other options under development should a more efficient technological solution emerge. In the meantime you can find the different partnerships and exclusive franchises in this metaverse sandbox right now !
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DISCLAIMER
The comments and opinions expressed in this article are solely those of the author and should not be considered as investment advice. Do your own research before making any investment decisions.
