The Worldwide Asset eXchange(TM) (“WAX”), the world’s leading blockchain for NFTs, is being recognized for the significant impact it has had on energy efficiency, sustainability and CO2 reductions — recognition in an industry where many blockchains don’t appear to be concerned about the environment. ClimateCare.org is reporting that, as of May 21, WAX has offset 211 tonnes of CO2 (and counting) and the blockchain’s energy consumption remains extraordinarily low at only 0.000223 terawatts per year, making it the only carbon-neutral NFT blockchain on the market. According to WAX, the company is 125,000 times more energy-efficient than its nearest competitor, while handling more than 11 million transactions per day. The company points to its proof-of-stake system as the source of its sustainability; the system eliminates the need for an energy-sucking battle between supercomputers to complete a single transaction. In addition, WAX is looking for ways to reverse environmental damage. WAX customers will soon have the option to purchase WAX Carbon Impact vIRL(R) NFTs, where for every $1 composted, a tree sapling will be planted by the National Forest Foundation. Each tree planted eliminates one tonne of CO2 over its lifetime. “It’s clear that not all blockchains are built the same,” said WAX co-founder William Quigley in the press release. “WAX was designed from the beginning to be exceptionally energy efficient. We use a tiny fraction of the energy that our competitors need to run much fewer transactions on a daily, monthly, and yearly basis. . . . We’re serious about our role as stewards of the planet and are committed to making sure that WAX plays a significant and lasting role in ensuring the blockchain, NFTs, and the planet are here for many more years to come.”
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About the Worldwide Asset eXchange
WAX is the world’s No. 1 blockchain as measured by both the number of users and by the number of transactions, according to Dappradar.com. WAX is also the leading entertainment NFT network. In 2018, the company introduced vIRLs, giving consumer product companies the ability to directly link NFTs to physical consumer products. Co-founded in 2017 by William E. Quigley and Jonathan Yantis, WAX delivers the safest and most convenient way to create, buy, sell and trade virtual items and physical products, such as NFTs and vIRLs, to anyone, anywhere in the world. WAX has facilitated the trade of more than 100 million digital collectables including Major League Baseball (via Topps MLB collectables), Capcom’s “Street Fighter,” and world-renowned entertainers Deadmau5 and Weezer. For more information about the company, please visit https://on.wax.io/wax-io.
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