Singapore-based Enjin, a non-fungible token and gaming blockchain platform, today announced it is joining the United Nations Global Compact corporate sustainability initiative as part of its efforts to develop a sustainable NFT ecosystem.
Fast facts
- The Global Compact is a voluntary sustainability initiative for companies working towards implementing the UN’s Sustainable Development Goals. Through its participation, Enjin intends to explore new ways of utilizing NFTs to meet the UN’s sustainability and equality goals, according to a statement shared with Forkast.News.
- “We are excited to work with Enjin to explore how blockchain and NFTs can contribute to the fulfillment of the United Nations Sustainable Development Goals,” said Irakli Beridze, head of the Centre for Artificial Intelligence and Robotics at the United Nations Interregional Crime and Justice Research Institute, in a statement. “While we are struggling to recover from the global pandemic and its impacts, we are experiencing exponential growth of technologies like AI and blockchain. More than ever, we need to take advantage and harness the potential of these new technologies to ensure that we are better equipped and more united in the future, in order to make our planet a more livable, equitable place for all.”
- NFTs have faced criticism over the alleged environmental impact of energy-intensive proof-of-work blockchains such as Ethereum, the most commonly used network for NFTs. However, more environmentally friendly blockchains for NFTs have emerged, such as proof-of-stake Tezos, which hosts the Hic Et Nunc NFT marketplace for crypto art, as well as Enjin’s JumpNet proof-of-authority network, which earlier launched this year.
- “At Enjin, we’re developing a sustainable ecosystem to create a better future using NFTs,” said Maxim Blagov, CEO of Enjin. “Joining the UN Global Compact reaffirms our commitment to improving people’s lives through blockchain technology, and will ensure these efforts are sustainable, focused, and optimized while holding us accountable to the public along the way.”