Home Cryptocurrency World’s First “Non-Fungible Territory” Declared by Indigenous Communities in Brazil

World’s First “Non-Fungible Territory” Declared by Indigenous Communities in Brazil

47
0

The World’s First Non-Fungible Territory has been officially renamed by indigenous people in Brazil in coalition with Nemus, a Web3 company that sells Non-Fungible Tokens (NFTs) to protect the Amazon Rainforest. Digital NFTs are unique, encoded onto the blockchain and irreplaceable. Each is a one of a kind asset—just like the flora and fauna of the Amazon.

Around the world, indigenous peoples are stewards of the Earth, responsible for protecting 80% of the planet’s biodiversity. With NFTs recently skyrocketing in popularity because of outsized gains and celebrity endorsements, land stewards of Brazil decided to showcase a purpose-driven utility for NFTs—to save the Amazon. This event is captured in the short filmNon-Fungible Territory.

“I believe this [land] is an NFT, I live in an NFT.”
– Lilico, Local Community Resident

Sales of Nemus NFTs are being used to protect the Non-Fungible Territory from the clearcutting that has devastated much of the Amazon, address the $300 billion climate action funding gap to combat deforestation, create sustainable jobs and increase economic activities for the local people.

With a goal to invest a billion dollars in the region, Nemus is already having a positive impact. They recently released over $100,000 from their treasury to fund the purchase of equipment to develop sustainable harvest methods of Brazil nuts and increase land security.

“If we are to save the Amazon, we must work with the people living there. Creating businesses in the middle of the jungle, with difficult access, no energy source, a population with limited education and qualifications is a huge challenge. But it can be done, and we have the experience. It is a lot of hard work and boots on the ground, but we can create incredible life changing results for the local communities.”
– Flavio de Meira Penna, CEO of Nemus

As local communities learn more about the utility of NFTs such as Nemus’, they are embracing the technology as a means to extend their stewardship of the land. Using Web3 to bring awareness to the Amazon’s needs as well as financial alternatives for its indigenous caretakers, they unite the world around an important cause. “Buy an NFT to save the NFT.”

ifax

LEAVE A REPLY

Please enter your comment!
Please enter your name here