ColOwl is a cute owl NFT generated by GNT. It is a new type of PFP or badge that can show support for the carbon neutral society by purchasing, reselling, and holding it! 50% of royalty fee will be used to purchase the carbon credit from various market places! (The use of the fee will be determined by NFT holders in the future!) Those activities will be reported to NFT holders and endorsed by blockchain transactions. Please check the official website for details!
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Perfect combination of NFT and carbon credit
Have you ever wondered about the carbon footprint you leave behind? On average, a person in Japan emits around 10 tons of CO2 annually. Wouldn’t it be cool if you could offset that with carbon credits? I’d like to think there are folks out there who’d be interested! (Fingers crossed!)
The real challenge? Most people don’t know how to buy these credits. So, the idea is, “Why not create a solution?”
Imagine a world where you can buy carbon credits with GMT, Sol, or even ETH. It sounds convenient.
Introducing the ColOwl NFT
This is an owl-themed NFT minted on MOOAR. The royalty fees go straight to buying carbon credits.
Sure, there are bigger and more popular marketplaces like Opensea and Magiceden. And yes, there are projects linking NFTs and carbon credits on a one-to-one basis.
But the future of carbon credits is still uncertain. What if credits that are recognized today aren’t accepted tomorrow? That’s why we’re doing things a bit differently.
Using Royalty Fees for Carbon Credit Purchases!
By using the royalty fees from NFT transactions, we can buy credits from various markets. This means we can diversify our sources, maximizing the impact while spreading the risk.
Our first step? We’re considering purchasing from NORI, known for its partnership with STEPN. Currently, 1 credit (equivalent to offsetting 1 ton of CO2) costs $25. So, for every 100 GMT in royalty fees, we can offset 100kg of CO2.
Progress of purchasing Carbon Credit
The Advantage
The more transactions, the more carbon credits we can buy with the royalty fees. This approach differs from existing models where credits are directly tied to NFTs or tokens. The value of the NFT increases as more CO2 is offset. It’s not just about the credits linked to one NFT; it’s about the total CO2 offset by the entire project. Imagine the value of a project that offsets 10 tons, 100 tons, or even more!
While there’s debate about the real impact of carbon credits, I believe they play a crucial role in redirecting funds from polluting industries to sustainable ventures. Want to dive deeper? Check out this article.
NFT Launch: ColOwl OG Details
- Mint URL: [Link to MOOAR ]
https://mooar.com/collection/colowl-og - Mint Price: 10GMT
- Minting Method: MOOAR Community mint starting 2023/10
- Total Supply: 300 NFTs
- Royalty Fee: 10%
- Use of GMT: 50% of Royalty Fees will be used to buy carbon credits. Certificates will be regularly published on our website
Rewards
We will be airdropping the 2500 GMT that we recently won!!
Please check out the higher chances for SUMI Owl OG owners!
Deadlines for all the rewards are UTC 23:59 Oct. 15. Details below ↓
✅ Prize 1
Terms and conditions: mint ColOwl OG
Prize: 50 GMT x 10
Drawing method: 10 random numbers will be announced on X and distributed to those who own a ColOwl OG NFT with that number. (If the number minted is low, up to #200 will be self-minted before the deadline.)
✅ Prize 2
Condition: own a ColOwl OG or SUMIOwl OG
Prizes: 100 GMT x 5, 1000 GNT credit x 1
How to participate: post an image (screencap) of a ColOwl OG or SUMIOwl OG with the #ColOwl tag in X.
Drawing method: random drawing among participants. (Limit one ticket per person.)
✅ Prize 3
Condition: own a same # of ColOwl and SUMIOwl NFT (ex. #4 of SUMI Owl and #4 of ColOwl)
Prizes: 5 x 100 GMT, 1 x Asics OG common shoe
Participation/drawing method: report what number of NFT you have through the following Google Form and draw among the applicants. (Limit 5 tickets per person.)
https://forms.gle/vZMwU2cBENp5a9QK6
The purpose of the project is to purchase CO2 credits using Royalty fees, so benefits (2) and (3) are ways to promote buy and sell on secondary market! The Polygon chain is expected to be less competitive as there may be fewer people who can prepare GMT. For that reason, SUMIOwl owners are more chances to win. Let’s have fun together!
Challenges Ahead
The ColOwl OG NFT is still in its experimental phase, and we’re essentially acting as a middleman for credit purchases. To accumulate credits using royalty Fees, we need to maintain liquidity.
We’re considering strategies like airdrops and events. Plus, with future MOOAR updates, we hope our NFTs will be more liquid and easily tradable.
This project is still in its infancy, so if you spot any issues or have suggestions, please let us know. We appreciate your gentle guidance!