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WildEarth is Using NFTs to Save Wildlife in South Africa

CryptocurrencyJan 29, 2022 02:00AM ET
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© Reuters. WildEarth is Using NFTs to Save Wildlife in South Africa

It’s always uplifting to see cryptocurrencies and Non-Fungible Tokens (NFTs) being tied into real-world projects that have a positive impact - speculative investments can only do so much. In terms of practical use cases, protecting animals and saving the environment are perhaps as real as it gets.

WildEarth is combining its experience in South African game reserves with NFTs and live streaming to protect a number of endangered species. This will be achieved through an interactive experience where sponsors mint their NFTs and view the animals live on TV.

The WildEarth project is already a huge step ahead due to its global reach. They are one of the world’s largest broadcasters with 5 million monthly viewers of WildEarth’s TV channel on platforms including Roku (NASDAQ:ROKU), DStv Africa, Amazon (NASDAQ:AMZN), iOS, Android, Plex, Bolt, Huawei, Xumo, Samsung+, Sling, LG+, Zeasn, and others. The audience is already concerned about nature and interested in animal welfare.

It’s a perfect combination in many ways. Viewers of the WildEarth broadcaster are already sensitive about the plight of animals. After watching a TV show about an animal, they will be interested in finding new ways to help. The NFT minting initiative provides this in a cost-effective and environmentally friendly manner.

The premise of the animal NFT initiative is simple and brilliant. 40% of the sale of the NFT is given directly to the custodian of the habitat who protects the animal. 8% of secondary sales are also given to the custodian in local currency. This is a very efficient mechanism of transfer as the custodians have the experience and passion in caring for the habitat. Standardized approaches will not work given the variances in different habitats and species.

Each NFT will contain a picture of the animal, its registry ID, and some additional information. Each NFT collection is linked to one specific type of animal. For every 1 NFT minted WildEarth will mint another and hold this NFT in treasury for later sale in the secondary market. This is so that a regular revenue stream can be created for the habitat custodians.

The mantra of WildEarth is to connect people to nature and it does this with its nature-based broadcasts. But the NFT initiative is taking this one step further where people can stream their animals and even engage in conversations with the habitat custodian and other NFT holders to form organic groups with a real interest in helping animals and the environment.

WildEarth also places an emphasis on live streaming and this is what people are looking for in the Web 3.0 era. It’s also what really connects people to the planet in an emotional and ‘live’ sense as opposed to more staged approaches. Nature lovers will take to the idea of having a live and personalized animal that they don’t really ‘own’, but that they certainly have access to. Each NFT owner will be given access via a mobile app for videos, stills, details, anecdotes, and movement of each animal over time.

Currently, the animals to be protected are mainly those from the Djuma Reserve. These are apex predators including lions, leopards, and hyenas. These are the kinds of animals in most need of protection and are also the ones that people love to watch on TV. They are also the easiest to track in comparison to smaller animals.

The WildEarth project runs on the Polygon blockchain, which has a very low carbon footprint compared to other chains such as Bitcoin or Ethereum. All NFTs of all animal collections can be minted for 120 MATIC (roughly equivalent to $200, though prices fluctuate) and you can mint them directly by connecting your Metamask or WalletConnect wallet.

Each wallet can mint up to 10 NFTs and there is a maximum number of NFTs that can be minted per collection. The minting window takes place with a limited timeframe and the demand matches the supply in terms of how many are created, at a fixed price (120 MATIC). Thus, even the NFT minting process ensures nothing is wasted and that no price arbitrage takes place.

The minting window opens on January 28th and closes on January 31st. A Discord AMA will be held with CEO Graham (NYSE:GHM) Wallington and CTO Peter Braat for those interested in the minting process.

About WildEarth
WildEarth is a nature tech company focused on increasing the value of nature to people. WildEarth’s 24/7 wildlife TV channel uses LIVE broadcasting, interactivity and a unique point of view shooting format to help viewers feel remotely present in nature. Now viewers can feel even more connected to the wildlife by purchasing NFTs from collections for specific wild animals knowing that just owning these NFTs is helping to conserve the habitats [homes] that these animals live in.

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WildEarth is Using NFTs to Save Wildlife in South Africa
 

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