Warning: unlink(/tmp/jnewslibrary-R3Camo.tmp): No such file or directory in /home/customer/www/coinparative.com/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 142
Brazil Company Pitches NFTs Could Save the Amazon Rainforest | Coinparative
Coinparative

  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀
No Result
View All Result
  • About Us
  • Contact
  • jeet-detector-bot
    JDB(JDB)
    $0.00-0.61%
  • bitcoin
    Bitcoin(BTC)
    $0.004.23%
  • ethereum
    Ethereum(ETH)
    $0.007.88%
  • usdex-stablecoin
    USDEX(USDEX)
    $0.00-0.53%
  • tether
    Tether(USDT)
    $0.00-0.38%
  • binancecoin
    BNB(BNB)
    $0.007.20%
  • usd-coin
    USD Coin(USDC)
    $0.00-0.48%
  • ripple
    XRP(XRP)
    $0.004.07%
  • binance-usd
    Binance USD(BUSD)
    $0.00-0.32%
  • cardano
    Cardano(ADA)
    $0.009.03%
  • dogecoin
    Dogecoin(DOGE)
    $0.005.84%
  • matic-network
    Polygon(MATIC)
    $0.0015.80%
  • okb
    OKB(OKB)
    $0.0013.24%
  • solana
    Solana(SOL)
    $0.0013.54%
  • staked-ether
    Lido Staked Ether(STETH)
    $0.008.10%
  • polkadot
    Polkadot(DOT)
    $0.0011.69%
  • shiba-inu
    Shiba Inu(SHIB)
    $0.0012.45%
  • litecoin
    Litecoin(LTC)
    $0.006.22%
  • avalanche-2
    Avalanche(AVAX)
    $0.0017.56%
  • tron
    TRON(TRX)
    $0.005.39%
View All
Coinparative
Home NFT News

Brazil Company Pitches NFTs Could Save the Amazon Rainforest

April 2, 2022
in NFT News
250 2
A A
0
Brazil Company Pitches NFTs Could Save the Amazon Rainforest
Share on FacebookShare on Twitter

A Brazilian company that owns 410 square kilometres (158 square miles) of Amazon rainforest is offering a new way to fund conservation: selling non-fungible tokens (NFTs) that allow buyers to sponsor the preservation of specific areas of jungle.

NFTs are a kind of crypto asset that exploded in popularity last year, with a unique digital signature guaranteeing they are one of a kind. Other efforts to fund conservation via NFTs include plans for a South African wildlife reserve.

In Brazil, a company called Nemus on Friday began selling NFTs granting buyers unique sponsorship of different sized tracts of forest, with the proceeds going to preserve the trees, regenerate clear-cut areas and foster sustainable development.

Token holders will not own the land itself but will have access to key information about its preservation, from satellite imagery to licensing and other documentation, said Nemus founder Flavio de Meira Penna.

He said Nemus had sold 10 percent of an initial offer of tokens for 8,000 hectares on the first day. “My guess is this will accelerate rapidly in coming weeks,” Penna told Reuters, adding that blockchain technology would ensure transparency in the use of the funds.

Plots vary in size from a quarter of a hectare to 81 hectares (0.6 to 200 acres), which buyers will be able to locate with online maps.

NFTs for the smallest plots sell for $150 (roughly Rs. 11,400) and the largest fetch $51,000 (roughly Rs. 3,885,200), said Penna, who is hoping to raise $4 million to $5 million (roughly Rs. 30.468 to Rs. 38.085 crore) to buy an additional 2 million hectares of land already under negotiations in the municipality of Pauini in Amazonas state.

Along with preserving the forest, Penna said the funds would support sustainable development efforts such as harvesting acai berries and Brazil nuts by local communities in Pauini, which is the size of Belgium.

Each token comes with artwork of an Amazon plant or animal and is processed by San Francisco-based Concept Art House, a content developer and publisher for NFTs.

Critics have questioned the value of NFTs for environmental causes because tokens using the blockchain technology require intense computing power, driving up demand for electricity generation that releases climate-warming greenhouse gases. Penna dismissed that view, saying preservation of threatened areas of the Amazon far outweighs the environmental cost of NFT transactions.

© Thomson Reuters 2022


Source: NDTV

Tags: amazonamazon rainforestblockchain technologynftnftsnfts amazon rainforest brazil nemus conservation nemusnon fungible tokens
Share196Tweet123Share34Pin44ShareSend

Related Articles

Rug Radio PFP NFTs With Cory Van Lew Mint on Monday 6th
NFT News

Rug Radio PFP NFTs With Cory Van Lew Mint on Monday 6th

February 2, 2023
1.4k
Play to Earn Games to Watch in February
NFT News

Play to Earn Games to Watch in February

February 2, 2023
1.4k
Steve Aoki x Stoopid Buddy Announce Web3 Stop-Motion Series
NFT News

Steve Aoki x Stoopid Buddy Announce Web3 Stop-Motion Series

February 2, 2023
1.4k
Crypto Companies Continue Layoffs, Downsizing way into Jan 2023
NFT News

Crypto Companies Continue Layoffs, Downsizing way into Jan 2023

February 2, 2023
1.4k
Canto NFTs are so hot right now | NFT CULTURE | Web3 Culture NFTs & Crypto Art
NFT News

Canto NFTs are so hot right now | NFT CULTURE | Web3 Culture NFTs & Crypto Art

February 2, 2023
1.4k
PROOF of Conference: Everything You Need To Know
NFT News

PROOF of Conference: Everything You Need To Know

February 2, 2023
1.4k
Load More

Discussion about this post

Coinparative

2022 © All Rights Reserved.

Coinparative specializes in the digital News and research on cryptocurrency, Digital Assets and Blockchain

  • Advertise
  • Privacy Policy
  • Terms
  • About Us
  • Contact

Follow Us

No Result
View All Result
  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀

2022 © All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
DON’T MISS OUT!
Subscribe To Newsletter
Be the first to get latest updates and exclusive content straight to your email inbox.
Stay Updated
Give it a try, you can unsubscribe anytime.
close-link
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Warning: unlink(/tmp/jnewsfirstload-fxsLKq.tmp): No such file or directory in /home/customer/www/coinparative.com/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 142