Along with the launch of our curated NFT Marketplace for music, XNFT, XLR8R has another announcement to make: we’ll split 1% of our revenue generated from selling NFTs between Brian Eno’s Earth/Percent, a registered charity in England and Wales (no: 1188391) making grants to the most effective organizations working on the climate crisis, and Blond:ish’s Bye Bye Plastic, a foundation to reduce single-use plastics by the music industry.
We’re aware that the carbon footprint from creating NFTs on the Ethereum blockchain can be significant because each transaction requires an extensive amount of energy. That’s why we’ve decided to use the side chain xDai for our marketplace. Although it can be an extra step to get xDai tokens, each transaction requires only a fraction of the energy and the gas fees, the costs of conducting a transaction, are drastically lower for the creators and the collectors. But we wanted to go one step further.
“We looked at several solutions with the help of our NFT partner Cargo and felt it would be much better for our planet and for our creators and collectors to use xDai,” says John Wander, XLR8R CEO. “Our team at XLR8R is very concerned and conscious of climate change and single-use plastics and wanted to go one step further by donating some of our NFT revenue to two very credible nonprofits that ‘walk the talk’ and are really making a difference. We are very pleased to be partnering with Earth/Percent and Bye Bye Plastic Foundation.”
Bye Bye Plastic Foundation’s co-founder and Blond:ish’s Vivie-Ann says, “NFTs are the future for music creators, just like the #plasticfreeparty is the future of dancefloors! As a strong believer in NFTs, I feel extremely humbled to know we are supported by XNFT on our mission to eliminate single-use plastics from our industry. “
“Earth/Percent thanks XLR8R for its generous offer to donate to us from sales of the platform’s NFTs and we will look forward to distributing funds received to the most impactful and transformative organizations fighting the climate crisis as selected by our panel of expert advisors,” Earth/Percent’s director Golchehr Ghavami noted.
You can check out the beta version of XNFT here.