Non-Fungible Token (NFT), is a type of cryptocurrency that is created based on blockchain technology, like Bitcoin or Ethereum. It has a unique physical property minted as an attachment, that can be traded or exchanged for one another. NFT is mostly used by the artist to sell digital artwork in limited editions, where people buy by getting a unique digital token known which proves their authority over the artwork they bought.
DIGITAL MANGROVE, Indonesian Conservation, and TOKENIN DIGITAL Singapore cooperated in exploring the development of NFT as a donation tool, which is equipped with physical assets in the form of real mangrove trees in the field. This NFT is planned to be launched at the end of the year, in 10.000 units, and equipped with 3D animation as the thumbnail.
The NFT running on POLYGON network layer 2, using ERC-721 and ERC-1155 smart contract, and Metamask Web 3.0 to ensure data privacy. The supported digital files
contain not just images (JPG/PNG/GIF) but also a PDF data of carbon sequestration, and a 360 video of the donator tree.
Benefits of crowdfunding offered through NFT namely:
- NFTs sales can go directly to the buyers without middlemen.
- Profit-sharing will be done automatically in real-time.
- Robust and trustworthy mechanism using Decentralized Ledger Technology system.
- Past transactions can be accessed by everyone on the internet.
- Past transactions are immutable.
- New omnichannel for brand marketing strategy with audio-video streaming capability.
As a crowdfunding payment gateway for the environmental campaign, we are seeking NGOs, industry, 3D graph designers, and brand ambassadors who would join in cooperation using the profit-sharing scheme.
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