It is hard to argue against the fact that NFTs are a detriment to the environment at this current time. The data is there. Building a Proof-of-Work blockchain the scale of Ethereum is going to consume massive amounts of energy.
A single ETH transaction consumes as much energy as the average US household does in a week. In addition, the majority of NFT transactions also happen on the Ethereum Network. While the community waits for the switch to PoS, they have started to come up with intermittent solutions. Therefore, in this article, you will discover how some initiatives want to save the Environment with NFTs.
MCO2: The World’s First Liquid Carbon Credit Token
One company presenting a solution is Moss which is tokenizing areas of the rainforest to save it.
Moss is a company that is working to offset the carbon footprint of major companies through carbon credits. Each $MCO2 token represents a single forestry carbon credit. Companies can buy these credits, and the funds are used to plant trees in the Amazon rainforest. Currently, the token is at $11.80 and has increased 4.12% in the last 24 hours.
#MCO2, the world's first green digital asset, is the first Latin American project to be listed on @coinbase, the world's most important exchange🌎🌳 Know more about the token here 👇 pic.twitter.com/KYiAhl1eu2
— MCO2Token (@MCO2token) December 7, 2021
Considering it’s just a waiting game until the ETH switch to PoS, this is a great idea to bridge the gap. Though it is not a perfect solution, it is a real solution.
But even further, Moss is looking to use the blockchain to completely change the way we give back to the environment.
Moss Amazon Forrest NFTs
First launching in January, this collection gives holders a chance to own a hectare of land. Each NFT directly represents one of fifty hectares of the Blue River Forrest. The holder of each NFT represents ownership over everything in this football field-sized area.
Moreover, Moss acts as the custodian for each parcel of land. They oversee, manage and maintain the land with the proceeds from royalties. Additionally, holders receive updated satellite imagery every 6 days. The collection has partnered with state-of-the-art companies to provide high-definition updates to holders of their parcels of land weekly.
The current floor price for the first series collection is 2.5 ETH. There are only 50 pieces of land total, so the supply levels are very low. There is a second series collection on Polygon, with a floor price of 1.6 ETH.
The Moss Amazon NFTs – Series 2 were sold out in just a couple of hours. The Amazon Green Wall Club has already started with more than 100 hectares of forest preserved. More members and series to come, all with one goal: save the Amazon. Congratulations to the owners! 🌳🌳🌳 pic.twitter.com/jUU6lKWtiM
— MCO2Token (@MCO2token) February 16, 2022
This is a brilliant idea. Though, this isn’t a new concept. People have been donating to and “owning” pieces of land in the Amazon Rainforest since we first discovered it was in need. But, prior to this technology, doing it in a provable and transparent way was not very easy. Moss provides a way for anyone, anywhere to give to an issue we are actively contributing to.
Finally, look for more collections to use the technology behind NFTs for novel uses like this. NFTs aren’t just cartoon monkeys and cats. They are ways to raise large amounts of money in transparent ways, in perpetuity.
Also, they are a way to give people true ownership over the things they buy! NFTs aren’t going anywhere, and the mass adoption is going to be fascinating to watch, especially when we consider their impact on the environment.
NOTE: Remember always to do your research, make your own decisions, and invest in projects that interest you!
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