• Sun. May 19th, 2024

Phantasma is Now a Carbon Negative Blockchain


A Certifiable Carbon Negative Blockchain, Phantasma’s carbon footprint is miniscule by design, yet offers extreme enhanced functionality. While leading the blockchain technology curve with smartNFTs, Phantasma is doing it while saving the planet.

CHICAGO, — Phantasma is proud to announce that its blockchain is certifiably carbon negative. Building its industry-leading platform and tools with its sustainable, green future in mind, Phantasma’s carbon footprint is miniscule by design. However, carbon footprints — no matter how small — are not something anyone wants to leave behind for future generations to deal with.

Committing to not just achieving but exceeding carbon neutrality, on April 17, 2021, the Phantasma team started on a path to help the blockchain industry evolve to a new paradigm: Certifiably Green Blockchain Technology.

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Carbon Negativity on Phantasma Soil

Phantasma’s partner Save Planet Earth is dedicated to lessening the impact of global warming. Since its inception, Save Planet Earth has built up carbon sequestration initiatives around the world, including approval of the planting of over 100 million trees, initiatives in solar, hydro, wind, beach/ocean clean-up, recycling, waste management and more. These initiatives generate certified carbon credits that can be provided to entities wishing to offset their carbon footprint.

Phantasma enables Save Planet Earth to deploy its Carbon Credit NFTs (CCNFTs) on a certified carbon negative blockchain while Phantasma is able to acquire home-grown CCNFTs offsetting its carbon footprint and ensuring that the infrastructure and tooling it provides does not adversely affect the shared planet.

Next-Generation Blockchain Technology is Green

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Phantasma is an energy-efficient blockchain, unlike such legacy technologies as Ethereum and Bitcoin which are based on so-called Proof of Work. Phantasma servers communicate and confirm transactions without having to execute infinitely complex calculations due to its eco-friendly Proof of Stake variant protocol.

As a result, the entire Phantasma blockchain consumes a mere ~52,500kWh per year — the same as just five average American households.

Phantasma ecoNFTs  —  Like Morning Coffee

On a platform where creating more than 10,000 ecoNFTs running at full capacity consumes no more power than spending 6.5 minutes letting the coffee maker deliver fresh morning coffee, developers, gamers and enterprises are confident that their activities do not harm the earth we all share — all while expending less than one-millionth of the electrical power consumed by a legacy platform such as Ethereum.

Certified by The Sustainable Future Group

Save Planet Earth CCNFTs are linked to specific, verifiable initiatives registered with the United Nations Framework Convention on Climate Change (UNFCCC). To offset its carbon footprint, Phantasma acquired and spent CCNFTs equivalent to offsetting 400% of its carbon footprint. The CCNFTs acquired by Phantasma result from an initiative to reduce gas leakages within the Titas Gas Distribution Network in Bangladesh, reducing carbon emissions by a whopping 4,378,506 metric tonnes of CO2 equivalents annually. Phantasma is proud to be part of the equation and supporting this initiative. Forty-eight of the 100 carbon credits acquired by Phantasma, each offsetting 1,000 kgs of CO2 released into the atmosphere, have been redeemed and the UNFCCC carbon credit registry updated accordingly through SPE. In return, Save Planet Earth has facilitated certification of Phantasma’s carbon negativity through The Sustainable Future Group.

Join Save Planet Earth and Phantasma in Going Green

Each and every single person leaves a carbon footprint. Together, everyone can be part of the problem or choose to be part of the solution. Consider offsetting your carbon footprint — be the change the world wants to see.

As a natural extension of its commitment to sustainability, every single member of the Phantasma team has committed to offsetting their own carbon footprints — so the minute the next batch of CCNFTs list on Phantasma’s NFT marketplace, the company welcomes others to join the initiative.

For additional information on Phantasma Chain, contact Gary Ollivier at [email protected] or visit https://www.phantasma.io.

ABOUT PHANTASMA — Phantasma is a blockchain for NFTs, Gaming, and dApps that is fast, secure, and decentralized. The governance token is $SOUL and the energy token is $KCAL, allowing interoperability with other blockchains while maintaining a decentralized governance system. Its innovative staking mechanism, dual-token system and advanced smart non-fungible tokens allow the Phantasma blockchain to be used for digital goods and services such as communication, entertainment, NFT marketplaces, and on-chain storage.

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Kevin Moore - E-Crypto News Editor

Kevin Moore - E-Crypto News Editor

Kevin Moore is the main author and editor for E-Crypto News.