‘It’s the Amazon that is a forest near Brazil, not the Amazon that is a US company. Just tell me I'm afraid you're wrong. '
Nemus, a Brazilian company that owns 410 square kilometers of land in the Amazon rainforest, has offered forest conservation financing in a new way through the sale of non-fungible tokens (NFT).
Nemus founder Flavio de Meira Penna said the NFT sale initiative, which allows buyers to sponsor the conservation of the forest area, was started last Friday.
Through this, NFT buyers will get unique sponsorship to forest areas based on different sizes, and the proceeds will be used to conserve trees to regenerate the felled areas as well as foster sustainable development.
According to Penna, token holders will not only acquire land but will also gain access to important information on conservation from satellite images to licensing as well as other documentation.
He added that Nemus had sold 10% of the initial token offer for 8,000 hectares on the first day of launch and expects more to be sold in the coming weeks.
According to a company statement, each land varies in terms of quarter -hectare size up to 81 hectares, which buyers can search with an online map.
According to the company, the NFT for the smallest land is sold at US $ 150 and the largest at $ 51,000.
The NFT sale plan is expected to raise $ 4 million to $ 5 million to buy an additional 2 million hectares of land that the company is negotiating with the municipality of Pauini in the state of Amazonas.
In addition, the company will use the funds to support sustainable development efforts such as the harvesting of acai and Brazil nuts by local communities in Pauini.
For your information, each token is accompanied by Amazon plant or animal artwork produced by San Francisco -based Concept Art House.
Generally, NFT is a type of crypto asset with a unique digital signature and various recovery financing efforts through NFT have been made, including plans to preserve wildlife reserves in South Africa.
However, some critics have questioned the value of NFT for environmental use as tokens that use blockchain technology require computing power that releases greenhouse gases that heat the climate.
