Tropix company overview
Founded in 2020, Tropix company is a young marketplace that enables you to purchase the works of your heroes efficiently and effectively. On this platform, you are able to connect with them and subjectively experience their art. The platform enables you to own your wallet for your transactions. The platform is based on an ethereum protocol. They provide the steps to creating, registering, and using your account. Its mission is to empower art through technology. The goal at Tropix is to change the way artists are paid.
Additionally, it intends to create a revolution in developing new projects and ownership of art. The creator and the buyer are both satisfied by creating a new way in which art can be produced and acquired. Tropix wishes to shift the power from big promoters to artists who can only improve creativity and innovation.
Key Features
NFT marketplace
Drops and galleries
Active auction
Ethereum protocol
Problems faced by Tropix
Tropix wishes to advance art through technology. They expressed to us that this mission is based on the notion that art advances and unifies society. Therefore, their services and platform cannot degrade other aspects of the human and planetary ecosystem. The core team members affirmed to Buster Solutions that they were concerned about the environmental impact of their blockchain technologies. The growth of NFTs has led to detrimental effects on the environment. Ethereum, which is Tropix's blockchain, is estimated to use 44.94 terawatt-hours per year.
Such power can power whole countries. Additionally, Tropix offers the ability to mine bitcoins which are also high figures. As Tropix advances its technologies, they are in a dilemma regarding the impact of its new technologies. Tropix is aware that their current activities and those in the future are directly detrimental in terms of power outages and increase in the Earth's temperature. As a result, Tropix sought a solution from us in terms of a balance between this revolutionary technology and its adverse effects in other places.
Solutions we provided to Tropix.
We recommended eco-friendly NFTs to Tropix to strike a balance between NFT technologies and their impact on the environment. It is well established that traditional methods of minting and verifying NFTs consume much energy from the world. This impact also includes their effect on Carbon II oxide. We recommended that Tropix change its system of validating functions.
We were able to establish that NFTs on themselves have no effect. However, in the system that Ethereum uses, proof of work requires a lot of processing power. Resultantly, we suggested Tropix consider a change. The other validation system, proof of stake, reduced the costs from the proof of work processes. Brands have the opportunity to experiment with NFTs minted under this system with minimal environmental impact.
Technology stack used
The technology stack of choice was the Ethereum protocol. While it currently uses the proof of work system to validate transactions, they are transitioning to proof of stake and thus was an excellent fit for Tropix.