Brazilian company Nemus, founded by Flavio de Meira Penna, has reportedly started selling NFTs as a new way to fund the conservation of the Amazon rainforest, of which it owns 410 square kilometers (158 square miles). It began selling NFTs to allow buyers to support various sized forest areas. The funds will be used to assist safeguard trees, replant places that have been removed, and support environmental development.
Apart from being the company’s name, Nemus also refers to the company’s collectible NFT experience, which allows consumers to sponsor various sized sections of the Amazon rainforest. The earnings from the NFT sale go toward preserving the jungle’s trees, regenerating clear-cut regions, and supporting sustainable development initiatives like local communities gathering acai berries and Brazil nuts in the municipality of Pauini in Amazonas state.
According to Nemus founder Flavio de Meira Penna, token holders will not own the land, but will have access to critical information concerning its preservation, such as satellite imaging, licensing, and other documents. He claimed that on the first day, Nemus sold 10% of its first offering of NFTs for 8,000 hectares. Penna told Reuters that “my guess is this will increase significantly in the next weeks,” and that blockchain technology would assure transparency in the use of the funds.
Each Nemus NFT comes with artwork representing a fauna or flora species that can be found on the company’s pledged conservation property. The deck’s rarest 8 features were made by Los Angeles-based graphic artist Ben Kwok, while the remaining 84 features were created by San Francisco-based Concept Art House for the first-ever Nemus NFT drop called Genesis. The area of the land varies from less than one hectare to 81 hectares. With the help of internet maps, buyers will be able to locate the land they are supporting. The cost of a Nemus NFT is determined by the amount of land that may be sponsored. According to Penna, Nemus NFTs sell for $150 for the smallest plots and $51,000 for the largest.
He intends to earn $5 million in order to purchase another 2 million hectares of land in Amazonas state. Penna stated that the funds will also be used to promote environmental initiatives such as the collection of açai berries and Brazil nuts by local populations.