Why National Geographic Was Slammed After Its 1st NFT Announcement
Oh National Geographic, it felt like you had everything going for you: gorgeous photos, stunning nature documentaries, and now you’re in the NFT game?
Not so fast.
National Geographic recently announced their first NFT offering: a digital image of the planet Earth taken during a space mission. But things were not as rosy as they hoped. If you take a look at the web, you’ll find a lot of people unhappy with the decision.
So, why is everyone so mad? Let’s take a look.
They’re Questioning the Motive
The majority of people’s contention with the decision is simple: they don’t believe National Geographic’s true motive is to give back to the environment. After all, it’s no secret that NFTs can net some serious money.
This sentiment isn’t helped by the fact that National Geographic was unclear about where proceeds from the sale would be headed. A charity? A research fund? No one had any answers.
Lots of Environmentally-Focused Options
Another common criticism aimed at National Geographic goes like this: why don’t they just take the money they’d make from an NFT and put it into an actual project instead?
People have pointed out that there’s no shortage of environmental-related projects that need funding, and that an organization like National Geographic should be looking to support efforts in the field rather than exploring new digital art ventures.
The NFT Bubble
Finally, there is concern that National Geographic is jumping on the NFT train while it’s still hot, only to be left out in the cold when the inevitable bubble bursts.
It’s true that not all NFTs will go to zero, but there are countless projects with no future and it’s not hard to point to some of the great hype that has surrounded them.
Conclusion
NFTs are definitely a hot topic at the moment, and it’s easy to understand why National Geographic wanted in on the action.
However, after the initial questions surrounding their motives and the valid concerns about the sustainability of the NFT market, it became abundantly clear why so many people were mad at the organization.
There’s no doubt that National Geographic will look to make some money, but whether or not they can also make a tangible difference in the environment is yet to be seen.
