Global warming is pushing companies and citizens to innovate in the environmental field. CarbonAble offers to support ecological and sustainable decarbonization projects via an NFT backed by the sale of carbon credit.
In order to fight global warming, CarbonAble has launched several collections of NFTs to accelerate financial support for environmental projects. To reduce the emission of carbon dioxide and achieve carbon neutrality, the French start-up proposes to invest in these non-fungible tokens which represent plots of land of natural spaces. These “carbon sinks” are a kind of natural reservoir capable of storing and absorbing greenhouse gases present in the atmosphere.
By reducing and sequestering these gas emissions, any company can receive carbon credits. The notion of carbon credit was introduced in 1997 by the Kyoto protocol. The objective of this international agreement was to reduce greenhouse gas emissions to a level that will no longer cause climatic consequences due to human activity. This carbon credit takes the form of a certificate which proves that the project has avoided the production of one tonne of carbon dioxide. It is through this approach that CarbonAble wants to encourage investment in its NFTs.
Project traceability and transparency
The qualities of transparency and reliability of the blockchain ensure confidence in the project. Each non-fungible token has its own set of data directly implanted in the blockchain with the exact location of the plot or the characteristics of the land. To allow the investor to ensure the good progress of the project, the start-up uses satellite imagery and artificial intelligence. In its white paper, the start-up claims that all content is on the project’s blockchain, which allows for permanent traceability. Regarding the environmental impact inherent in the production of an NFT, CarbonAble uses the Cosmos protocol operating with proof of stake, reputed to be less energy-consuming.
Two collections have already been launched. The first, made up of 160 NFTs, supports the reforestation of the Banegas forest in Costa Rica, in collaboration with the Corcovado foundation. To reforest this area, 8,000 trees will be planted. According to the forecasts of the French start-up, it will be possible to capture no less than 1851 metric tons of carbon emissions in the next thirty years, the equivalent in carbon emissions of 1.6 million pocket pounds. .
The second collection aims to restore the Mangrove forests on the island of Colón in Panama with the Fundacion Naturaleza. Mangroves are one of the most carbon-storing natural ecosystems on the planet. Each of the 360 NFT minted for the occasion represents 500 m2 of land. These two collections, launched in May, were successful, the first sold out in less than two seconds while the second took just a few minutes to sell out.
In addition to participating in the fight against global warming, each token allows its holder to receive financial returns from the sale of carbon credits by the start-up. CarbonAble also offers to be rewarded in governance tokens for participating directly in certain decisions of the company.