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by bhay 1930 days ago
Your understanding is correct, however ETH is moving sharply away from PoW to PoS systems which are significantly less demanding systems in terms of energy requirements. I believe the roadmap expects the full PoS transition to happen this year (a multistage launch that we are partway through).

On top of that, there's other more specialised NFT blockchains like flow which are becoming very popular.