Brazilian Company Wants to Save Amazon with NFTs
2022-03-31
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1A Brazilian company is offering a way to help save the Amazon rainforest by selling non-fungible tokens.
2A non-fungible token, or NFT, is based on a technology called blockchain, which is also used with digital money known as cryptocurrencies.
3An NFT can be attached to a piece of digital artwork or other things existing in digital form.
4The NFT can be used to provide proof that the pieces are real.
5While anyone can view the work, the buyer has official ownership rights over the pieces.
6The Brazilian company Nemus owns 410 square kilometers of Amazon rainforest.
7It began selling NFTs to permit buyers to support different sized areas of forest.
8The money is used to help protect the trees, regrow cleared areas and support environmental development.
9NFT holders will not own the land itself.
10But they will be able to view important information about its protection.
11That information includes satellite imagery, licensing and other documentation, said Nemus founder Flavio de Meira Penna.
12He said Nemus had sold 10 percent of its first offering of NFTs for 8,000 hectares on the first day.
13Penna told Reuters that he thinks the company's NFTs will continue to sell quickly.
14Areas of land differ in size, from less than one hectare to 81 hectares.
15Buyers will be able to find the area of land they are supporting with online maps.
16NFTs for the smallest areas of land sell for $150 and the largest for $51,000, said Penna.
17He hopes to raise up to $5 million to buy an additional 2 million hectares of land in Amazonas state.
18Penna said the money will also support environmental development efforts such as harvesting açaí berries and Brazil nuts from local communities.
19Each NFT comes with artwork of an Amazon plant or animal.
20The artwork is produced by content developer and NFT publisher Concept Art House of San Francisco, California.
21Some critics have questioned the value of NFTs for environmental causes.
22Blockchain technology requires great computing power, increasing the use of electricity that releases climate-warming greenhouse gases.
23But Penna disagrees.
24He says saving threatened areas of the Amazon far outweighs the environmental cost of trading in NFTs.
25I'm Jonathan Evans.
1A Brazilian company is offering a way to help save the Amazon rainforest by selling non-fungible tokens. 2A non-fungible token, or NFT, is based on a technology called blockchain, which is also used with digital money known as cryptocurrencies. 3An NFT can be attached to a piece of digital artwork or other things existing in digital form. The NFT can be used to provide proof that the pieces are real. While anyone can view the work, the buyer has official ownership rights over the pieces. 4The Brazilian company Nemus owns 410 square kilometers of Amazon rainforest. It began selling NFTs to permit buyers to support different sized areas of forest. The money is used to help protect the trees, regrow cleared areas and support environmental development. 5NFT holders will not own the land itself. But they will be able to view important information about its protection. That information includes satellite imagery, licensing and other documentation, said Nemus founder Flavio de Meira Penna. 6He said Nemus had sold 10 percent of its first offering of NFTs for 8,000 hectares on the first day. 7Penna told Reuters that he thinks the company's NFTs will continue to sell quickly. 8Areas of land differ in size, from less than one hectare to 81 hectares. Buyers will be able to find the area of land they are supporting with online maps. 9NFTs for the smallest areas of land sell for $150 and the largest for $51,000, said Penna. He hopes to raise up to $5 million to buy an additional 2 million hectares of land in Amazonas state. 10Penna said the money will also support environmental development efforts such as harvesting açaí berries and Brazil nuts from local communities. 11Each NFT comes with artwork of an Amazon plant or animal. The artwork is produced by content developer and NFT publisher Concept Art House of San Francisco, California. 12Some critics have questioned the value of NFTs for environmental causes. Blockchain technology requires great computing power, increasing the use of electricity that releases climate-warming greenhouse gases. 13But Penna disagrees. He says saving threatened areas of the Amazon far outweighs the environmental cost of trading in NFTs. 14I'm Jonathan Evans. 15Anthony Boadle reported on this story for the Reuters news service. Jonathan Evans adapted this story for Learning English. 16__________________________________________________________________ 17Words in This Story 18digital - adj. characterized by electronic and especially computerized technology 19licensing - n. permission to do something granted especially by qualified authority 20greenhouse gas - n. any of various gaseous compounds such as carbon dioxide or methane that absorb infrared radiation, trap heat in the atmosphere.