The figures couldn’t paint a grimmer picture. According to the Global Carbon Project, we’ll have emitted 36.4 billion tonnes of carbon to the atmosphere by the year’s end. Coming at a time when global temperatures are rising, this is a worrying revelation. Accordingly, climate-conscious individuals and nations have established mitigating measures. Today the carbon credits offset market is growing. Statistics also show that its subset, voluntary credits, could be the key to attaining carbon neutrality. And to that end, blockchain technology could come in handy.
First, Carbon Corp, a budding crypto firm, is pioneering a unique project in the carbon offsets space. It is developing a one-of-a-kind non-fungible token (NFT) minting platform. The MintCarbon platform will enable you to convert your carbon credit project into a tradable token. What is it then? How does it work, and importantly, what’s its value proposition? This article takes a deep dive into the project showing you why it’s the go-to platform for NFT minting.
MintCarbon NFT – Merging Art and Sustainability
The MintCarbon NFT is an Ethereum-based (ETH) ERC1155 token. It uses a Proof of Stake (PoS) consensus mechanism and will run on the Polygon network on release.
By running on Polygon and adopting a PoS consensus increases the token’s attractiveness. First, the NFT has low emissions that go hand in hand with the project’s objectives.
Additionally, trading in the token attracts fewer fees while affording you transparency and high liquidity. So, what’s the project’s actual offering? Let’s now delve into the project’s impressive features.
Low Carbon Footprint
As stated earlier, the token uses a PoS consensus mechanism. This mechanism requires minimal power and hardware use. As such, it contributes significantly to carbon reduction efforts.
The PoS consensus requires validators to stake funds for them to participate in the verification process. That means they are accountable for their actions.
They may incur hefty penalties and losses should they take the wrong action. As such, they’ll always act in the interest of the projects guaranteeing your secure transactions.
Opportunities for Passive Income
The platform offers opportunities for earning passive income. All you have to do is stake funds. Once you do so, you’ll earn validator rewards per concluded transaction.
The gist of crypto projects is decentralization that eliminates central authorities from transactions. PoS consensus helps MintCarbon NFTs achieve this. Its staking mechanism for validation emphasizes the community rather than individuals.
Time is money when it comes to crypto transactions. Many users demand swift exchanges between them and their peers.
The MintCarbon NFT guarantees you that, a fast and secure conclusion to your trades. By utilizing PoS consensus, the platform can top 100 thousand TPS. That, in turn, guarantees you the timeliness of your trades.
MintCarbon provides you with a simple user interface. Regardless of your level of technical expertise, you’ll find its easy layout and navigation a marvel. This means you can readily convert your carbon credits into NFTs for trading. The platform integrates with leading NFT marketplaces such as OpenSea.
Through BC tech, the project gives you permissionless and global access to the NFT world. Anyone can mint the tokens and trade them from any part of the world. You can do so anytime and any day of the year.
The non-fungibility aspect of the token ensures that what you get is the real deal. It guarantees you that the token you acquire is what it is; one of a kind creation. Additionally, the platform does a rigorous authentication of the NFTs before unloading them.
Functionality Through Smart Contracts
This token uses embedded smart contracts to automate its functions. Again, its rich BC composability features enable you to use it across BCs. The only catch is that those BCs must run on the ETH technology.
Many voluntary carbon reduction initiatives struggle with funding. But this needn’t be the case if you mint your NFTs on MintCarbon. The platform’s tokens have a decentralized finance (Defi) support feature. Through this, you can tap into a global pool of funders supporting sustainability initiatives.
How Does it Work?
Getting onto MintCarbon is as straightforward as it comes. You’ll first need to create your account. Then you’ll need to add an NFT supporting wallet such as MetaMask, WalletConnect, or Fortmatic.
Connecting the wallet enables you to upload the specifics of your carbon credit asset and logo. MintCarbon then mints your carbon credits to the BC. On completion, your contract becomes viewable using Etherscan.
After that, you can list your NFT on OpenSea. You may opt to list it or sell it on the exchange. Further, the platform allows you to track your NFT’s value and trading history on its intuitive dashboard.
When is the Launch?
The project is in the beta testing stage. First, Carbon Corp is optimistic about a first-quarter 2022 launch. In the meantime, you can get more information by subscribing to its email alerts. Additionally, you can follow announcements on their website, and Twitter handle.
Voluntary carbon credit offsets could be the key to a sustainable global future. They complement compliance carbon credits. However, there’s much to do if we’re to reap from its adoption. Luckily though, we have technology at hand. Blockchain technology continues to touch most aspects of our lives. In the future, it’ll be vital to attain carbon neutrality.
Through non-fungible tokens, carbon offset projects can merge art and sustainability. First, Carbon Corp has identified an opportunity in this space. It is launching its MintCarbon NFT minting platform next year. MintCarbon has rich features that make it the platform of choice for minting Carbon Credits.