NFTs and the Climate Change: The raise of the Carbon NFTs

As the impact of climate change continues to pose significant threats to our planet, innovative solutions are increasingly necessary to address these challenges. One such solution involves the use of NFTs, or non-fungible tokens, which can be utilized to promote sustainable practices and reduce carbon emissions.

 

At NFTCar we are revolutionising reduction of carbon emissions by converting high-pollution cars into climate change NFTs. 

 

The process of creating an NFT begins with the purchase of a high-pollution vehicle. The emissions reduction per car is calculated by dividing its expected emissions over a 10-year period by the equivalent of 1 ton of CO2 per 1 NFT. We calculate each car's future emissions based on the car's age, mileage, and average fuel consumption.

Benefits of using NFTs for climate change include:

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• Providing a 100% transparent and secure way to track the ownership and transfer of the NFTs

• Creating economic incentives for individuals and organizations to adopt sustainable practices

• Encouraging collaboration and accountability in the global effort to address climate change.

• Climate Change NFTs have the capability to grow quickly, as trade and verification processes can be efficiently executed on blockchain networks.

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​This scalability allows for a wider pool of investors to participate and significantly contributes to reducing carbon emissions. ​