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Offsetting Strategy
We are acutely aware of the numerous ecological concerns surrounding NFTs and blockchain technologies, in particular the Ethereum blockchain on which the Sphere Digital Soul is built. As of now, Ethereum is still using a proof-of-work consensus mechanism; we are hopeful that the transition toward proof-of-stake will happen in the near future. In the meantime, we are committed to put in place an offsetting mechanism that will rely on the amazing work done by regenerative finance initiatives like Toucan Protocol or KlimaDAO. Through their protocols, we will buy tokenized carbon credits to cover our carbon footprint (and beyond). These tokens will be held by the Sphere Commons Pool treasury.
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