• On the first day, Nemos sold NFTs for 8000 hectares of rainforest
• Not all environmentalists are convinced of the concept of Nemus
Protecting the Amazon rainforest from deforestation
Brazilian company Nemus has pledged to protect the Amazon rainforest from deforestation. Even today, large swaths of the Amazon have been cleared and thus destroyed for land gain. From the point of view of the Nemus, the current incentives to protect the largest rainforest on Earth are not working, so due to ancient traditions, lack of opportunities and financial benefits, the rainforest is rapidly disappearing and gradually reaching a tipping point. At the moment, cutting down trees is more profitable than saving them, because pasture land can be more valuable than forest land. In addition, many families face the problem that cleared land in the Amazon is the only way to earn income from farming or raising animals. Local authorities are also more or less restricted, as the lack of equipment and personnel makes it difficult to enforce existing laws. There is a lot that needs to be done to preserve this unique ecosystem.
Use NFTs to conserve rainforests
In order to effectively protect the Amazon rainforest, Nemus wants to carve out a new path. It is not enough merely to legally seize the land in order to preserve it. Without constant activity accompanied by constant monitoring and financing, squatters cannot be deterred from their entry and further destruction. So sustainable management must be the answer to protecting rainforests. First, Nemus wants to change the narrative and make it clear to the audience that preserving the forest can be more economically viable than clearing the forest. Protection and activities on protected lands can benefit the community by creating new jobs, income and a better quality of life.
To ensure everyone contributes to the project and drives change, Nemus relied on selling NFTs rather than donations. With proceeds from the sale of NFT, Nemus acquires endangered lands in the Amazon and ensures its preservation. However, buyers of NFTs do not become owners of the corresponding territories. However, they will receive information about the properties associated with NFTs, as well as satellite images, licenses, and other documents. Accordingly, the NFT can be seen as a promise of protection and partnership in a particular area of the rainforest. In addition, buyers will receive a handcrafted artwork that pays tribute to the unique flora and fauna of the Amazon.
NFTs sold out over 8000 hectares of rainforest on the first day
Nimos told Reuters it sold outback areas in more than 8,000 hectares of rainforest on the first day. This corresponds to about ten percent of all codes. “I think this will accelerate rapidly in the coming weeks,” Nemos founder Flavio de Mira Pena told Reuters. With sales, initially enough land will be acquired to build a protective belt in the rainforest. On the map provided by Nemus, potential buyers can choose plots of various sizes and purchase an NFT for between $150 and $51,000 depending on the dimensions. According to Reuters, Pina hopes to raise up to five million US dollars to acquire and thus protect another two million hectares of rainforest.
Criticism of whether the procedure is really environmentally friendly
However, not all environmentalists are fully convinced of this concept. There is criticism about whether NFTs are really suitable for protecting the environment. After all, the blockchains on which the NFTs are based will consume large amounts of energy and release a corresponding number of greenhouse gases. This promotes climate change and pollutes the environment. However, Pena dismissed this criticism to Reuters. In his view, protecting Amazon regions at risk outweighs the environmental costs of NFT transactions.
Nicolas Flühr / Editor finanzen.net
Image sources: Schroders, Sergey Ilagin / Shutterstock.com