Coorest and the Southern Hemisphere PLCnetwork believe that blockchain technology and [NFT development]( are a solution to protect endangered wildlife and fund expensive conservation areas.
Non-fungible tokens, or NFTs, are no longer reserved solely for consumer products. Netherlands-based decentralized carbon offset exchange Coorest and Southern Hemisphere conservation consultancy PLCnetwork have teamed up to tokenize individual endangered animals in privately owned game reserves and conservation areas in Africa. These wild animal NFTs allow owners to sponsor an elephant, lion, cheetah or rhino. Proceeds from sales will go towards the food, shelter and safety of the animals they represent.
Cointelegraph spoke with William ten Zijthoff, founder and CEO of Coorest, to learn more about combining blockchain and sustainability with wildlife preservation. Coorest is best known for operating a CO2 offset system, NFTrees, that tokenizes assets or performance bonds and carbon credits that are tradable on the blockchain. Those who buy an NFTree collect and burn the CO2 tokens to record the amount of CO2 reduced.
Similarly, the concept of wildlife treats conservation as an asset that should be invested in for the good of both the animals and the environment. He explained that conservation areas or ecological lodges “need new business models that don’t depend on tourism for income or donations.” That’s why Coorest partnered with the Southern Hemisphere PLCnetwork, with connections to wildlife reserves in South Africa, Zimbabwe and Botswana.
According to Dr. Julia Baum, founder of PLCnetwork, the main problem with on-the-ground wildlife conservation is that “it’s expensive and resources are often very limited.” Even for a private reserve with a generally larger budget, the cost of caring for an African savannah elephant, for example, can be very expensive because it includes fencing, guarding, 24-hour anti-poaching patrols and veterinary support.
Asked what the main benefits of owning an elephaNFT or lioNFT are, Zijthoff said it’s about establishing a long-term relationship with the animals, the wildlife reserve and Coorest. He also clarified that owning a wildlife NFT does not grant ownership of the animals, but instead provides a monthly “proof of life” verification that the animal is still alive. The metadata of each [NFT development]( contains species, age, and sex information specific to each tokenized animal.
Holders will also be invited to visit the wildlife reserve and meet the animals. 70% of the funds from these wildlife NFTs will go to the game reserve or conservation area, with funds released on a monthly calendar. or established. VulcanForged is a blockchain gaming studio and NFT marketplace that has partnered with Coorest to sell and feature their wildlife NFTs in various play-to-earn games, offering holders additional in-game uses and rewards.
As this first wildlife NFT pilot project is underway to “further develop mainstream conservation innovation,” Baum believes this new type of impact [NFT development ](can raise awareness of wildlife action to a new and broader audience. conservation and social development. The long-term goal is further investment and success on the ground around the world, she added.