12.6 C
New York
Thursday, June 8, 2023

A French start-up offers to buy NFTs to support environmental projects

A real problem of the 21st century, global warming is driving companies and citizens to innovate in the environmental field. CarbonAble offers to support environmental and sustainable decarbonisation projects through an NFT supported by the sale of carbon credit.

To combat global warming, CarbonAble, a French start-up, has launched several collections of NFTs to accelerated financial support for environmental projects† In order to reduce carbon dioxide emissions and achieve carbon neutrality, CarbonAble offers to invest in these non-perishable tokens that represent tracts of land or natural areas. This one “carbon sink” are a kind of natural reservoir that can store and absorb the greenhouse gases present in the atmosphere.

By reducing and recording these gas emissions, any company can receive CO2 credits. The concept of carbon credit was introduced in 1997 by the Kyoto Protocol. The aim of this international agreement was to reduce greenhouse gas emissions to a level that will no longer have climatic consequences as a result of human activity. This carbon credit takes the form of a certificate proving that the project has avoided producing one tonne of carbon dioxide. Through this approach, CarbonAble aims to encourage investment in its NFTs.

Traceability and transparency of projects

The qualities of transparency and reliability of the blockchain ensure trust in the project. Each non-functioning token has its own set of data implanted directly into the blockchain with the exact location of the plot or the characteristics of the land.

To enable the investor to make the project run smoothly, the start-up uses satellite imagery and artificial intelligence. In its white paper, the start-up claims that all content is on the project’s blockchain, enabling permanent traceability. With regard to the environmental impact inherent in the production of an NFT, CarbonAble uses the Cosmos protocol working with proof of stake, known to consume less energy.

2 successful collections

Since its launch, CarbonAble has already launched two collections. The first, consisting of 160 NFTs, supports the reforestation of the Banegas forest in Costa Rica, in partnership with the Corcovado Foundation. To reforest this area, 8,000 trees are being planted. According to the French start-up’s forecasts, it will be possible to capture as much as 1,851 tonnes of CO2 emissions over the next 30 years, or the equivalent in CO2 emissions of 1.6 million pounds poached.

The second collection aims to: restore mangrove forests on Colón Island in Panama with the Fundación Naturaleza. Mangroves are one of the most carbon-storing natural ecosystems on Earth. Each of the 360 ​​NFT minted for the occasion represents 500 m2 of land. Launched in May, these two collections were successful, the first selling out in less than two seconds, while the second only took a few minutes to sell out.

In addition to participating in the fight against global warming, each token allows the holder to receive financial returns from the sale of carbon credits by the start-up. CarbonAble also offers to be rewarded in governance tokens for directly participating in certain company decisions.

(ETX Daily Up)

john willhttps://receivinghelpdesk.com
John is a Gamer And A Writer By Heart. He Writes News Articles On Receivinghelpdesk And Also Specializes In Writing Tech and entertainment-related topics. He Loves Watching Movies And Shows. Definitely A Complete Extrovert.

Related Articles


Please enter your comment!
Please enter your name here

Stay Connected


Latest Articles