5 Minute read
A New Dawn - of Web 3 and Climate Action
How does Web 3 impact Climate Action? What do you think artists from Avatar, Lucasfilm, Marvel, Netflix, Disney, and Apple (to name a few) have in common? Yes, they do work on some incredible projects based out of Hollywood and California, but turns out they have generously been donating their artwork as NFTs, with proceeds heading to carbon reduction projects. 100,000,000 Mangroves Project, is a series of artwork that is sold in the NFT market to fund 100 million mangroves, just as the name suggests - with the estimated amount of carbon sequestered to be around 20 million tons.
The numbers might be overwhelming but this is the scale at which an impact can be made when technology in the form of Web 3 and climate action come together.
Quite clearly, using digital assets such as NFTs to fund environmental projects is indeed one of the most novel ways of using such path-breaking technology to drive climate action, at scale. In short, one can now literally own a tokenized asset whose sale proceeds directly go towards funding environmental projects around the world.
When it comes to the most well-known application of Web3, cryptocurrency too has an integral role to play in this ecosystem. From playing the role of the very means to purchase and trade green NFTs to directly investing/trading in the carbon credits markets, the use cases for crypto are immense when it comes to fighting climate change. The likes of KLIMA and Toucan Protocol, in this regard, have been doing some amazing work and we are only sure that there will be many more interesting and profound projects coming up to use crypto, well for that matter, Web 3 for the planet.
How can ClimaJo leverage Web 3 to drive climate action?
While our core focus is to reward people for their sustainable actions, harnessing a strong movement such as Web 3, holds immense potential to drive home our mission on a much larger scale. On the platform, users can get instantly rewarded with points when they take various actions such as Learning (through podcasts, articles, and other forms of content) and Climate Actions such as buying from sustainable brands and using other sustainable services such as offsetting and recycling.
While they have the option to avail of better deals through the accumulated points for more products and services, users can also convert their points to fungible as well as non-fungible tokens (NFT’s).
This brings us to ClimaJoes - where we have opened invitations to creators and artists who want to list their work with us as NFTs, which we will be minted and traded on the blockchain. When users then buy NFTs, a portion of the fees will be sent to projects around the world aligned toward conservation.
This is just the first of many Web 3-based projects we are working on and we would love to collaborate and build a strong community to make the best of technology to fight climate change while rewarding them for doing so on an instant basis.
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