The new initiative follows MaiCoin Group’s launch in October 2021 of an “eco-friendly NFT” with Taiwan’s I Love To Plant Trees Company Limited, which sold out within two hours of its market debut.
As a beneficiary of the fast-growing cryptocurrency industry, MaiCoin Group says it recognizes a need for proactiveness in helping to neutralize the carbon emissions generated by crypto-miners. Recently, the company voluntarily purchased 2,068 tons of carbon credits from South Pole, and successfully sold 1,800 tons through this most recent carbon credit backed-NFT project, which included hand paintings by Island Moment depicting three clean energy sources in Taiwan—wind, water, and sun. According to MaiCoin, the artwork aims to “express the idea that Mother Nature will reciprocate Taiwanese’s kindness to nature and efforts in preserving natural assets with a cleaner and more beautiful Formosa Island.”
To encourage public participation in decarbonization and eco-friendly activities, a total of 450 carbon credit-backed NFTs have been launched using the ERC-721 standard, with each NFT representing 4 tons of carbon credits.
“At present, there is a basic international consensus on cross-border carbon trading between governments and enterprises, but in order to make carbon trading more efficient and smoother, blockchain technology shall come into play as one of the solutions; in order to link carbon trading with decarbonization substantively, a heightened public awareness and more committed carbon reduction behaviors are needed,” said MaiCoin Group Founder and CEO Alex Liu. “By launching these carbon credit-backed NFTs, MaiCoin Group hopes to spark public discussion around this issue, because ‘reducing carbon emissions to save the planet’ should not be a slogan, but everyone’s daily life.”
MaiCoin Group says it plans to use Common Wealth as a launchpad for working with different groups to launch social impact NFTs on a more regular basis. In addition, citing the “borderless” nature of NFTs, MaiCoin says it hopes to take the issue “global,” work alongside non-profit organizations, and weave a better future with blockchain technology.
