Renewable Energy for the metaverse: How NRverse offers access to more sustainability in the web3 realm

NRverse
3 min read
Jun 16, 2022 5:16:54 PM

We are in the early days of metaverse and web 3.0. As the ecosystem grows, so will its energy requirements. NRVerse is here to ensure that metaverse and everything linked to it are powered by renewable energy.

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Web 3.0 and the metaverse are no longer just ideas — they are here and it is inevitable that our physical world will become growingly intertwined with the digital world through simplified and advanced virtual experiences. The ecosystem is growing at high speed and is expected to continue doing so. We can already see major brands like Nike, Samsung, and JPMorgan jumping onto the train and preparing for our increasingly digital future. But we cannot abstract from the reality and the downside of such evolution. According to Intel, the computation power for the metaverse and everything linked to it, ranging from virtual reality, augmented reality, artificial intelligence, and blockchains are expected to increase by 1000x of what is required today. We believe that the metaverse will constitute the primary energy consumption of the information and communication technology sector. Companies and individuals are concerned about their carbon footprint and are seeking for ways to reduce it. NRverse offers access to zero-emission electricity for any digital application.

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Renewable energy certificates prove the usage of renewable energies whereas CO2 credits are used for carbon offsetting

Currently, we see an increasing supply and demand for carbon credits offered on voluntary carbon markets. These projects are investing in reforestation or other activities that promise to extract carbon out of the atmosphere. Companies and individuals willing to offset their carbon footprint can purchase these carbon credits. Unfortunately, for the majority of these projects, emission reductions are not additional and are often over-estimated. Therefore the simple and most direct way to remove carbon is simply to avoid it. NRverse builds on energy attribute certificates (EAC): EACs are created for every megawatt-hour (MWh) of electricity from a renewable energy resource. EACs are a tradeable, market-based instrument that represents the legal property rights to the “renewable-ness” of renewable electricity generation. Holders of EACs can claim the usage of the renewable energy linked to the certificate by redeeming it. Various EAC schemes have been institutionalized all over the globe, making them easily scalable and trustable.

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Prove the usage of zero-emission electricity with NRverse NFTs

By easing the access to EACs, NRverse is providing an additional way to reduce scope 2 emissions associated with the electricity consumption of decentralized, digital operations. We work together with energy trading companies that have access to renewable energy power plants around the world. NRverse buys EACs on local certificate markets and transforms them into NFTs. NRverse can consolidate different EACs in type, volume, location and time into a single NFT. By owning and redeeming them, anyone can claim the usage of zero-emission resources for their direct (e.g. electricity consumption of a data centre) and indirect (e.g. electricity consumption of IT infrastructure, edge computing, or even end devices) electricity consumption.

Tailor-made calculations of electricity consumption for any digital application

NRverse helps in estimating the direct and indirect electricity consumption of digital applications. With different calculation models, we support estimating the individual electricity demand for any web3 or web2 applications, ranging from:

  • Entire metaverses, parcel of land, or single metaverse events;
  • NFT drops or complete NFT marketplaces;
  • Crypto wallets and crypto transactions for any blockchain;
  • Data centres, mining farms, etc.

NRverse is poised to help anyone to back the impact of digital activities with renewable, zero-emission, energy sources, paving the way for more sustainability in the web3 realm.

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