How GameFi projects are championing environmental sustainability through Blockchain
Its an unlikely partnership but more and more GameFi projects are placing environmental sustainability at the forefront of their project design.
From the tracking of carbon credits to the management of sustainable supply chains, blockchain technology is helping to ensure the protection of our planet remains a number one priority as we continue to progress through the millennium. Lets take a look at just how this is working in 2023.
Carbon credits
Carbon credits are permits which allow the owner to emit carbon dioxide and other greenhouse gases — one carbon credit equals one tonne of carbon dioxide or other noxious gas released into the atmosphere. By allocating and tracking carbon credits it is easy for governments and environmental bodies to track who is producing what and ensure that their carbon footprint is off-set with other environmentally friendly activities.
There are a growing number of GameFi projects which are using blockchain technology to track carbon credits and offer ways for their customers to help offset the difference. By providing accessibility to sustainable solutions and promoting increased levels of accountability and transparency, GameFi is really helping highlight the green agenda and ensuring the future is healthier for us all.
Decentralised energy grids
Energy trading has been around for a few years now and with the power of distributed technology there are a growing number of GameFi projects which are exploring the use of decentralised energy grids that facilitate peer to peer energy trading. As the name suggests, any blockchain powered distributed energy network would enable individuals and communities to generate and share renewable energy and reduce any previous reliance on fossil fuels.
NFTs for environmental awareness
NFTs are a crucial element to the GameFi concept and are one of the core drivers behind attracting new users to the genre. Through its fun and engaging medium, GameFi has the power to penetrate audiences like never before. Therefore it is pleasing to see a number of environmentally aware platforms beginning to use NFTs in order to increase awareness of the vulnerability of our planet. Whether they represent animals, fauna or landscapes endangered by climate change, NFTs purchased and traded are helping to support environmental causes and raise awareness around the urgency of the climate cause.
Sustainable supply chains
As many of us know, blockchain technology is an excellent method for keeping track and verifying the provenance and sustainability of supply chains. Established projects like VeChain have shown that there is a continuing and significant demand for this type of platform. Now, innovative GameFi projects are incorporating supply chain management systems to ensure customers know exactly the journey their purchase has taken throughout the entire product life cycle. This level of transparency is helping to ensure customers know how their time and money are invested and is helping to ensure they are able to make informed decisions in the future. The resulting increase in purchasing power is inevitably demanding producers and suppliers change their practices to ensure customer satisfaction remains high.
A sustainable future
It is clear that blockchain and GameFi continue to form a potent combination with increased levels of data transparency combining well with engaging and immersive role play. As we can see there are a number of ways in which forward thinking companies can utilise these concepts to increase awareness and bring more benefits to organisations. Despite coming from opposite ends of the spectrum it is clear that there are myriad ways in which the natural environment can benefit from this technological revolution. From trading energy of decentralised marketplaces to tracking the sustainability of supply chains it is clear that the power of blockchain technology is helping provide the opportunity to help create a more sustainable future for all.
