First NFT Company Accepted Into UN Global Compact
Membership of the Global Compact requires companies to align their business models with the Ten Principles derived from U.N. declarations on human rights, labor, the environment and anti-corruption.
Jul 20, 2021 at 1:00 p.m. UTCUpdated Aug 21, 2021 at 6:43 p.m. UTC
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Blockchain platform Enjin said it has become the first non-fungible token (NFT) company accepted into the United Nations (U.N.) Global Compact.
- Membership of the Global Compact requires companies to align their business models with the Ten Principles derived from U.N. declarations on human rights, labor, anti-corruption and the environment.
- Enjin has said it has made significant strides in lowering the climate impact of NFTs through the development of its JumpNet blockchain, an attempt to address soaring gas fees on the Ethereum network.
- The company also joined the Crypto Climate Accord, an initiative designed to make the cryptocurrency industry run entirely on renewable energy by 2025.
- In a statement Tuesday, Enjin said it will explore how NFTs can help achieve the U.N.'s sustainability and equality aims, including reducing the wealth gap between nations by leveling the playing field for creators to compete in a global marketplace.
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