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Source: Сointеlеgrаph

Digital Dual Non-Fungible Tokens, or NFTs, are no longer just for consumer products. Netherlands-based decentralized carbon credit exchange Coorest and consulting firm PLCnetwork of the Southern Hemisphere have teamed up to tokenize selected real life endangered animals in game reserves and private game reserves in Africa. These wildlife NFTs allow owners to sponsor an elephant, lion, cheetah, or rhino. Profits from sales will go towards food, shelter and safety for the animals they represent.

spoke with William ten Zijthoff, founder and CEO of Coorest, to learn more about combining blockchain and sustainability with wildlife conservation. Coorest is best known for using the NFTrees CO2 offset system, which tokenizes income generating assets or bonds and carbon credits that can be traded on the blockchain. Those who buy NFTree collect and burn CO2 tokens to register the amount of CO2 reduced.

Similarly, the concept of wilderness sees conservation as an asset to be invested in for the sake of animals and the environment. He explained that conservation areas or eco-houses “need new business models that don’t depend on tourism for revenue or donations.” That’s why Coorest has partnered with PLC’s Southern Hemisphere network with links to game reserves in South Africa, Zimbabwe and Botswana.

According to PLCnetwork founder Dr. Julia Baum, the main problem with local wildlife conservation is that “it’s expensive and resources are often very limited.” Even for a private game reserve with a normally large budget, the cost of caring for an African bush elephant, for example, can be very high, as it includes fencing, monitoring, 24-hour anti-poaching patrols, and veterinary support.

Asked what the main benefits of owning elephaNFT or lioNFT are, ten Zijthoff said it’s about building long-term relationships with animals, the wildlife sanctuary and Coorest. He also clarified that owning a wildlife NFT does not confer ownership of the animals, but rather provides a monthly “proof of life” that the animal is still alive. The metadata of each NFT contains information about the species, age, and sex specific to each tokenized animal. Owners will also be invited to visit the reserve and get to know the animals.

70% of the proceeds from these wildlife NFTs will go to a game reserve or protected area, with funds disbursed on a monthly or scheduled basis. VulcanForged is a blockchain game studio and NFT marketplace that has partnered with Coorest to sell and use their wildlife NFTs in a variety of games to earn money by offering owners additional in-game features and rewards.

Related: Vulcan Forged (PYR) Rises After Virtual Earth Sale and Elysium Testnet Launch

As this first wildlife NFT pilot is underway to “further advance overall conservation innovation,” Baum believes these new NFT impacts can raise awareness of conservation and social development to a new and wider audience. She added that the long-term goal is to make big investments and be successful on the ground around the world.


Source: Сointеlеgrаph

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