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NFT blockchain company Enjin (ENJ/USD), a pioneer in its field, has become the first NFT platform to join the United Nations Global Compact. Enjin joins as one of the highest-ranking members, which is Participant. Membership in the organization, which offers guidance in environment, human rights, and labour, comes with a serious commitment to equality and sustainability.
Enjin’s remarkable accomplishments in environmental protection
Enjin’s achievements in decarbonizing NFTs on Ethereum (ETH/USD) are nothing short of remarkable. The company joined the Crypto Climate Accord and launched JumpNet, an eco-friendly blockchain, to support the Global Compact’s ninth Principle directly. This places emphasis on the diffusion and development of eco-friendly technologies. The blockchain consumes just 0.01% of the energy that Ethereum does, which remains the network NFTs most commonly use. Enjin is also developing the Polkadot-based (DOT/USD) Efinity, a sharded Proof of Stake parachain.
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Irakli Beridze, Head of the UN AI and Robotics Centre, welcomed the partnership, saying:
“We are excited to work with Enjin to explore how blockchain and NFTs can contribute to the fulfilment of the United Nations Sustainable Development Goals. 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 liveable, equitable place for all.”
Enjin will explore ways for NFT tech to become the monetization and financial backbone to combat climate change and deploy permission-less access to NFT markets to eliminate inequalities between different countries, making it possible for NFT users and creators to compete with equal standing across the globe.
Enjin CEO Maxim Blagov commented the development:
“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.”
The company’s membership comes against the backdrop of the understanding that social and environmental sustainability is key to unlocking trillions in value in the near future. Enjin has addressed highly publicized criticism against NFTs on account of their carbon footprint by establishing a detailed plan to enable carbon-neutral NFTs and releasing JumpNet.