Project Act & GainForest join forces: Gran Chaco Dynamic NFT
GainForest, in collaboration with Project Ark, creates Dynamic NFT, a new type of non-fungible token. This novel digital asset has been designed to reflect the ever-changing forest and its natural habitat while funding the preservation and conservation of both. The project will be the first of its kind, creating more connection and value for both the asset holders and the forestry we strive to preserve and regenerate.
What are Dynamic NFTs?
Dynamic NFTs are a new breed of digital assets that represent conservation specific to an area and aim at reversing high deforestation rates. They change their meta-data, in our case the digital representation of the forest, based on outside conditions. The use-case is to maintain a healthy piece of forest. At the beginning, after purchasing, the NFT holder can see a forest which is in good condition. Ideally it stays like this but it can also degrade in case the conditions on the ground change, such as deforestation happening in the area.
The data is being collected through a set of satellite images, with periodic oversight by drones that survey the area closer to the ground. The data is then collected and uploaded on chain, which based on certain parameters will alter the image of the NFT.
Why Dynamic NFTs?
With the world of NFTs being full of copycats, rug pulls and very little utility attached, there is a constant need for innovation and actual use cases of the technology. The combination of blockchain assets, along with modern monitoring technologies allow a closer connection between the experience of holding an NFT and real world impact.
This first collection of Dynamic NFTs aims to revert deforestation at the south edge of the Defensores del Chaco National Park. The project has been launched on a plot of 1,000 hectares near Fortin Madrejon in Paraguay. Further projects in Latin American and South East Asia are in the pipeline for 2022.
Sustainability Blockchain Summit (Paris, July 2022)
GainForest presented their solution at the Sustainability Blockchain Summit organized by Filecoin.The summit, which took place in Paris, brought together actors from the ReFi (Regenerative Finance) space ranging from carbon reduction projects and on-chain solutions to United Nations representatives.
The presentation has been met with a lot of enthusiasm.he highlight has been the changing state of the Dynamic NFT as well as the appearance of a capybara from one of the wildlife cameras installed at the foot of the Defensores del Chaco National Park in Paraguay.
GainForest’s ambition
GainForest™ is a decentralized fund using artificial intelligence to measure and reward sustainable nature stewardship. The company, which was founded in 2017, generates Dynamic NTFs, unique digital assets that correspond to land areas all over the world. Dynamic NTFs are designed to raise donations which are embedded in smart contracts. Using satellite imagery, drone technology and AI, GainForest monitors the area. If the land is protected and preserved for longer and longer, donations will automatically be released to the local communities that have been responsible for protecting it. Institutions that use the GainForest technology, can trace the impact while the value of their Dynamic NTFs grows. GainForest stands for radical transparency and is based in Zurich, Switzerland.
Where can I purchase Dynamic NFTs?
Currently only the beta-version is for public sale.
If you wish to purchase one of them, please go to Art Exchange:
Project Ark is dedicated to the development of a “sustainable metaverse” — by working with leading global organizations, brands, and projects to apply the use of NFTs in catalyzing sustainable and social development. Project Ark has worked with world-leading NGOs such as WWF Panda Labs, Peace Parks, Veolia (the world’s largest environmental services company), and Lay’s. The team is backed by marquee investors such as Jaan Tallin (cofounder of Skype, angel investor in Ethereum), Alex Liu (Global Chairman of Kerney Consulting Group), Liu Erhfei (former Chairman of Merill Lynch Asia), Arcanum Capital (a digital asset investment firm supported by Tim Draper), Genesis Block Ventures (a leading digital asset firm)
