The worlds 1st SMS as an NFT and the carbon footprint

At Porini we believe that innovation and innovative technology can help humanity live in balance with the Earth. Our mission is to foster adoption of digital tools like blockchain to enable, drive and accelerate positive impact. We’re thrilled to support Vodafone as they mint the SMS1 NFT — a symbol of just how far these technologies have come.

NFTs — “non-fungible tokens” — are digital collectibles stored on a blockchain. Blockchains and, by extension, NFTs have gained a reputation for having a large impact on the environment. This is because the computer networks that run blockchains sometimes consume a lot of energy to securely store this digital value.

As usual, there’s more to the story. Blockchains and smart contracts are key tools enabling “Regenerative Finance” or ReFi, a movement to build a financial system that regenerates the Earth by design. Innovators from all over the world are building apps that are helping coordinate global climate action — apps powered by blockchains. Porini for example operates a ZeroCarbon Sustainability Blockchain and #NatureCollectibles project running on top of it.

Still, we recognize that the creation of the SMS1 NFT has an impact on the Earth, and we’re taking real action to counteract that impact. To make sure this is a planet-positive NFT launch, Porini has retired 100 tonnes of high-quality nature-based carbon credits representing real-world carbon impact. Based on the carbon footprint of the NFT launch estimated with the methodology, this is over 100x the carbon we’d need to retire to counterbalance this launch and make it “carbon neutral”. According Offsetra it took 546kg CO2 to create the contract, mint the NFT and transfer it. That’s on purpose — we all need to do much more than just balance the carbon books.

We’ve chosen to retire these carbon credits using the Toucan Protocol. Using Toucan, we’ve tokenized these verified carbon credits onto the energy-efficient Polygon blockchain, and publicly burned them. This matters because anyone with an Internet connection can check for themselves that these credits were permanently retired by Porini for this Vodafone SMS1 NFT.

Further reading: Toucan Protocol , Offsetra knowledge base