How to save the Amazon? Brazil company says NFTs are the answer

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BRASILIA : A Brazilian company that owns 410 square kilometers (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 p

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

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

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.

 

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