Test 1.1. || NFTs and Sustainability

Non-Fungible Tokens (NFTs) and sustainability will bring great mutual benefits to each other. What connects them and how profitably can they work together? 🤔

1. Definitions and examples.

1.1. NFTs are not only images or JPEGs. NFTs are digital assets - from art to music to other collectibles and more - represented as tokens on the blockchain. Each can be bought, sold or held, with ownership and validity tracked. More specifically, NFTs are a standardized, interoperable, portable, decentralized, self- sovereign, user-controlled, cross-application method to store any digital object (a*).

Any digital content can be created as an NFT: images, pictures, videos, music, movies, training certificates, access passes, urban planning models, and the list goes on. All NFTs are linked with art: artworks act as a "packaging" of NFTs. Those NFTs can then be sold on online marketplaces and the artist gets a share of revenues each time the NFT is sold - or resold for profit (b*). "Creators economy" is steadily becoming the new paradigm by linking the real world and the digital world.

Peripheral illusion - World of Women collabs

1.2. NFTs are linked with “utility”. For instance, if you like tennis and buy Patrick Mouratoglou's "The Coach" NFT, you can meet other tennis amateurs, get invited for a lunch in Roland Garros' rooftop restaurant, receive free Mouratoglou Academy merch and even have access to Grand slam tickets or his yearly gala (c*).

"L'essentiel est que demeure le Supreme"

1.3. Sustainability means “meeting our own needs without compromising the ability of future generations to meet their own needs”. Sustainability is not just environmentalism, it also embeds social equity and economic development. The underlying idea is that we should not only think to our children and grandchildren, but also embrace the role of mankind to maintain the equilibrium between people, nature and all living organisms. As you can see, sustainability is a holistic approach of the organization of human society.

2. Profitable mutual benefits.

2.1. Sustainability will be an efficient trigger to spread NFTs' mass adoption. Indeed, it's in the interest of individuals and organizations to show their support to sustainability initiatives - even for communication and marketing purposes.

Nicole Buffet, Warren Buffet's granddaughter, was recently nominated in the top 50 most influential people in NFTs by Fortune magazine. As an NFT artist, she explained that NFTs reconcile artists with finance and that crypto and traditional finance are complementary. She decided to donate a percentage of her proceeds to nonprofits such as the Open Earth Foundation, Hope for Haiti and Blankets of Hope (d*).

2.2. NFTs can act as great tool to raise funds for sustainability initiatives for three reasons:

Firstly, an increasing amount of money is on the Internet - and you can buy or sell NFTs even without using crypto (e*).
Secondly, art is an universal language that does not need a detailed description to attract people - beauty is in the eye of the beholder.
Thirdly, there is a sense of belonging when you own a NFT because you have access to a community of NFT holders who have shared values with you (f*).

2.3. A case should be made regarding the environmental impact of NFTs.

It's true that you need to use a computer or a smartphone to join the process but efforts are currently being made to create repairable and hopefully soon circular computers and smartphones (g*).

It's true than creating, purchasing and selling NFTs has environmental impacts - especially when you use cryptocurrencies - but efforts are being made to reduce those environmental impacts (h*).

No system designed by human beings can be perfect.

A cost-benefit analysis is the way to go when you invest in a new project. Such an analysis and project-impact measurements will be more reliable thanks to blockchain.

Given the current state of the planet, it might be worth giving NFTs a try to raise funds to preserve and regenerate the environment and to create purposeful communities.

3. Vision and execution.

3.1. The vision is clear: NFTs reconcile artists with finance and trigger a paradigm shift called "Creators Economy". Sustainability with a holistic approach - society, economy, environment - is a profitable marketing tool to push for NFTs' mass adoption. Arts are ergonomic means of expression to link NFTs and sustainability. NFTs are useful in order to raise funds to finance sustainability initiatives and spread sustainability ideas.

3.2. How to execute: Link the real world and the virtual world in NFT events and art galleries.

Recommendation 1: those art events and art galleries could launch both real-life and virtual events about various sustainability-related NFT projects.

Recommendation 2: since Paris is a “museum city” and the capital of fashion, "NFT Factory Paris" (i*) and “Metaverse Summit Paris” (j*) are attractive and should focus on that competitive advantage. They should work with sustainability consultants/project leaders.