Monrovia, California, USA — These utility NFTs use Web3 innovations to decentralize the carbon offset industry and add equity and inclusion to climate finance.
Many of the world’s mature forest communities are excluded from climate finance, which prevents them from selling carbon offsets. They are excluded by intermediaries who regard carbon sequestration from a mature forest as “business-as-usual” and not additional. As a result, some members of these mature forest communities resort to illegal logging, or starting bushfires, to convert their forest land into farmland in order to feed their families.
As an alternative to deforestation, Carbon Collectible NFTs is on a mission to help these low-income communities use NFTs to monetize their mature forest. Each NFT is available as a customizable avatar but also sponsors one dedicated plot of mature forestland equal to 1 hectare, or 2.47 acres. Each plot of forest land conveys, to its associated NFT, rights to 5 voluntary Web3 carbon offsets per year. Each NFT also includes rights to use the avatar, and plot of land, in gaming and metaverse applications. Carbon Collectible NFTs has now opened its waitlist for the first 2,000 NFTs in its genesis collection of Web3 carbon offset NFTs.
One key advantage of Carbon Collectible NFTs is its Satellite Navigation App that bypasses centralized carbon intermediaries who are exclusive and unaffordable. This SatNav App bypasses these intermediaries by measuring forest carbon removal rates automatically through the use of satellite images, machine learning, and artificial intelligence. The SatNav App also allows NFT owners to use satellite navigation to zoom in and see their assigned plot of forest land. This magnifies provenance and transparency.
The SatNav App also geolocates rare sites of interest in the forest, such as waterfalls and caves, and calculates their distance from an NFT’s dedicated plot of forest land, thus, increasing the physical rarity of these NFTs.
The Avatime Forest community in the Volta Region of Ghana is the first beneficiary of these mixed realities NFTs. They will receive 65% of the proceeds from the NFT sale – 15% for forest management activities and 50% through a social innovation studio. This social innovation studio uses Web3 innovations to help local entrepreneurs reimagine sustainable and profitable solutions to legacy challenges. The ultimate goal of Carbon Collectible NFTs is to use Web3 to mobilize a social impact community that is directed toward minimizing deforestation while increasing local entrepreneurship, jobs, and alternative livelihoods.
Mark Lawrence, the founder of Carbon Collectible NFTs, was quoted as saying, “Many traditional forest carbon offsets represent historical carbon. They are yesterday’s fight against global warming. Conversely, Web3 carbon offsets represent current and future carbon sequestration. They sponsor the ongoing fight against global warming.” He adds, “Carbon Collectible NFTs is the first and only opportunity to buy into the genesis collection of Web3 carbon offsets .”
For more info about Carbon Collectible NFTs, visit http://ccNFTs.io or review the video summary at http://V1.ccNFTs.io.
Business Name: ProcessGuru, Inc.
Contact Person : Mark Lawrence
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Economy Lane journalist was involved in the writing and production of this article.