Preserving Amazon Forest, Nemus Publishes NFT For Fundraising

Amazon forest conservation can now use NFT. (photo; doc. pixabay)

JAKARTA - A Brazilian company that owns 410 square kilometers (158 square miles) of the Amazon rainforest is offering a new way to fund conservation. They propose selling non-fungible tokens (NFTs) that allow buyers to sponsor the preservation of certain forest areas.

NFTs are a type of crypto asset that exploded in popularity last year, with unique digital signatures that guarantee that they are one of a kind. Other efforts to fund conservation through NFT include plans for a South African wildlife sanctuary.

In Brazil, a company called Nemus on Friday, March 25, began selling NFTs that provide buyers with unique sponsorships of various sizes of forest patches, with results that will conserve trees, regenerate logged areas, and promote sustainable development.

"Token holders will not own the land themselves, but will have access to important information about its preservation, from satellite imagery to licensing and other documentation," Nemus founder Flavio de Meira Penna said.

He said Nemus had sold 10% of the token's initial offering for 8,000 acres on the first day.

"My guess is this will accelerate even more in the coming weeks," Penna told Reuters. He added that blockchain technology will ensure transparency in the use of funds.

Plots vary in size from a quarter acre to 81 acres (0.6 to 200 acres), which buyers can find with online maps.

According to Pena, the NFT for the smallest plot sold for US$150 (IDR 2.1 million) and the largest one for US$51,000 (IDR 732 million). He also hopes to raise US$4 million to US$5 million to buy an additional 2 million hectares of land already under negotiation in the municipality of Pauini, in Amazonas state.

In addition to conserving forests, Penna said the fund would support sustainable development efforts such as harvesting of acai berries and Brazil nuts by local communities in Pauini, which is the size of Belgium.

Each token comes with an Amazonian plant or animal artwork and is processed by San Francisco-based Concept Art House, a content developer and publisher for NFT.

Critics question the value of NFTs for environmental causes as tokens using blockchain technology require strong computing power, increasing demand for power generation that releases climate-warming greenhouse gases.

Penna rejects that view, saying preserving the threatened Amazon region far outweighs the environmental costs of NFT transactions.