Wildlife conservation efforts turn to NFT-funded initiatives
2022.04.22 01:41
Wildlife conservation efforts turn to NFT-funded initiatives
Digital twin nonfungible tokens, or NFTs, aren’t just reserved for consumer products anymore. Netherlands-based decentralized carbon credit exchange Coorest and conservation consulting firm PLCnetwork of the Southern Hemisphere teamed up to tokenize individual real-world endangered animals at game reserves and privately owned conservation areas in Africa. These wildlife NFTs enable holders to sponsor an elephant, lion, cheetah or rhino. Profits from the sales will go toward food, shelter and security for the animals they represent.
Cointelegraph spoke to William ten Zijthoff, founder and chief executive officer of Coorest, to learn more about combining blockchain and sustainability with wildlife preservation. Coorest is best known for operating an NFTrees CO2 compensation system that tokenizes yield-bearing assets or bonds and carbon credits that are tradable on the blockchain. Those who buy an NFTree collect and burn the CO2 tokens to register the amount of CO2 reduced.
