Have you ever heard of an NFT?
This month we’re excited to learn about a project Reef Check Indonesia is undertaking with Fauna Conservation NFT. Fauna Conservation NFT is a start-up social enterprise that is using NFTs to raise funding for conservation, in this case for our friends at Reef Check Indonesia.
An NFT, or non-fungible token, is a digital asset stored on a blockchain to verify its authenticity. It can be any type of file such as an image, a video, an audio file, or even a 3D model. Fauna Conservation NFT and Reef Check Indonesia, with the support of the Asian Development Bank (ADB), the Indonesia Climate Change Trust Fund (ICCTF) and Impact Hub Manila, are launching a collection of 15 NFTs of various marine and reef species which will help to raise funds for Reef Check’s work in Indonesia helping local communities to manage and utilize marine and coastal resources in a sustainable manner, and to adapt to climate change.
This project was a direct result of the ADB’s “NFTs for Development” competition in 2021.
The first three NFTs have already been released on OpenSea, a large online marketplace for NFTs, which you can view and purchase here – https://opensea.io/FaunaNFT. The idea behind the project is to bring the process of giving or donating into the new technological age of cryptocurrency. Buyers can purchase an NFT, in this case a beautiful, realistic, 3D model of their favorite marine species, and in the process support the conservation of these creatures they love so much.
Is this the only way to raise conservation funding for Reef Check? No – you can also very much donate directly. Do you need to be a crypto expert to join the party? Certainly not, these days there are many options for the crypto novice to join the fray and NFTs are a great entry point, where you get a permanent collectible for your purchase, and the knowledge you’re conserving some of earth’s most threatened ecosystems.
To learn more about the NFT collection visit https://faunanft.com/.