NFTree is product of the symbiosis between ecology and technology. NFTree certifies CO2 offset on a carbon neutral, decentralised and cryptographically secure infrastructure, working closely with autoctonous populations to reforest and strengthen biodiverse ecosystems in Spain.
What is NFTree?
NFTree is a joint project by Crown Platform and the Micorriza association. Micorriza will tokenise the CO2 footprint of Crown Platform on the Crown blockchain as NFTokens in order to finance ecological progress in its area of action. With this pilot, NFTree wants to propose a different approach to the highly centralised and deterritorialised carbon certificate industry: Efficient infrastructure, transparent public ledgers, localised and proximity work on the ground.
Crown and Micorriza – A Symbiotic Approach
The public Crown Platform blockchain ecosystem aims at becoming CO2 neutral to address a core critique towards blockchain based cryptocurrencies: Their exponential electric cost. Crown’s commitment towards an ecological blockchain is firm, and thus the cryptographic consensus mechanism for adding blocks to the Crown blockchain is capped, unlike in race-oriented Proof of Work systems that extract added value by progressively exploiting natural resources.
For this reason, when neutralising the CO2 footprint of the Crown network, Crown decided to support similar communitary and local structures. In this quest, it joined forces with the Micorriza Association, an ecological initiative working on the ground for more than 15 years to document, protect and strenghten biodiverse ecosystems in Spain.
The Asociación Nacional Micorriza is a non-profit organization that advocates for the conservation and protection of the natural heritage, history, cultural values, traditions and environmental services that are being lost in most of the rural regions of the Spanish territory.
Together, we want to conserve and protect our ecosystems through fostering autonomy, social progress and innovation.
- April 2020 – Release of the Non-Fungible Token Framework with Crown Core “Emerald” v0.14
- May 2020 – Calculation of the Crown Platform CO2 emissions based on block producing node count and electricity consumption
- June / December 2020 – Definition of the offset model. Analysis of the tree species, climate contextualisation, plot measurement.
- December 2020 – Presentation of the NFTree project to the Crown Platform Decentralised Governance and Proposal System for community voting.
- January 2021 – Development of NFTree Protocol System.
- February 2021 – Implementation of the NFTree System.
- March, April, May 2021 – Registration of protocols and tokens on the blockchain.
- November 2021 – Showcasing NFTree at CoinFestUK:
– Presentation to the public of the first carbon neutral blockchain.
– Presentation to the public of the first NFT based offsetting system.
Work In Progress
- Scalable NFT-based CO2 certificate model presented to enterprises and institutions to tokenise new plantations and register them as CO2 certificates on the Crown blockchain .
- Release of the NFT Transfer Framework within Crown Core v0.21 to create NFT-based carbon certificate markets.
- Presentation of additional NFTree action areas: NFT based tree tracing for agriculture. Tokenisation and registry of singular trees, enterprise-size tree registries for mass-offsetting.
Pilot Use Case
Pilot Use Case – Active
The first certificate issued by NFTree compensates 81.14 tons of CO2 emissions for the cryptocurrency and blockchain Crown Platform. This certificate is active during 2021 and can be renewed after this period. With this certificate, Crown Platform is offsetting around 75% of its footprint, becoming the most efficient blockchain platform in the industry.
Pilot Proposal – Passing
- The NFTree team is composed by Crown Platform contributors and executive members of the environmental Micorriza Association. NFTree proposes to offset the CO2 emissions produced by the block producing Crown network – all Masternodes and Systemnodes.
- The process of transaction validation and addition of blocks to the Crown blockchain currently generates ~96 tons of CO2 annually.
Source: Crown Platform Monitor
- NFTree has developed a compensation model using 27,21 hectars consisting of six plots of privately owned and managed land in Spain that will offset 81,14 tons of CO2 every year.
- NFTree leverages the Crown Platform NFT Framework to tokenise the plots that will offset the carbon footprint of the Crown blockchain.
- The tokens include all the technical data necessary to verify location and existence of the trees as well as the amount of CO2 they offset, resulting in immutable CO2 certificates on the Crown blockchain registered to the public address of the owner (in this case the Crown Platform DAO). These are endorsed by the transparency of the blockchain and by Micorriza Association as environmental certifier.
- Crown Platform will be the first offsetting entity on this framework in the VER market (voluntary emission reductions) that seeks to disrupt the carbon certificate industry and attract other entities to tokenise plantations and register them on the Crown Platform decentralised, public and immutable ledger for universal and transparent access.
- Crown Platform will be compensating around 85% of its CO2 emissions starting 2021 and will become the first CO2 neutral blockchain worldwide that registers the CO2 certificates on its own ledger engineering the most ecological use of NFTokens yet seen: CO2 certificates on a CO2 neutral blockchain.
- The current CO2 ton price following the EU ETS Carbon Market Price sits at 31.79€ at the date of proposal generation on December 23rd 2020.Source: Carbon Price Viewer – Ember
- If the Crown Platform DAO agrees to this proposal, Crown Platform will be able to offset 81,14 tons yearly of CO2 at €31.79 per ton, reaching a total cost of €2579.44 or $3146,92 per year.
- The CRW price as of 24rd December 2020 is €0,056. The total amount to pay for a 1 year certificate will be CRW46061 / 12 months. The monthly amount for the CO2 certificate proposal will be 3838,45 CRW. The certificate will be renewed in January 2022 to cover the following year.
- Included in this cost is the realisation of the pilot use case and the creation of a scalable model to invite further enterprises to offset their CO2 in the VER and CER Markets on the Crown Platform blockchain.
- Below is a detailed list of all the plots that will be used to compensate the CO2 emissions. These technical sheets will be tokenised on the Crown Blockchain and will be available for download and hash checksum to verify the authenticity of data. These tokenised CO2 certificates contain the plot location, boundaries, vertices and central coordinates, tree species, measurement methods and total amount of CO2 offset. The NFToken will be registered to the address of the owner of this certificate. In this case, it will be registered to the address decided by the Crown Platform DAO. The certifying agent Micorriza will be in control of the keys to the NFTree certifying protocol.Once/if the proposal passes, NFTree will share the compensation model as well as the documents containing the lines of actions for the environmental conservation of the selected biodiverse areas for maximum transparency.
Plot 1 in Maranchón – 5,38 CO2 tons per year
Plot 2 in Maranchón – 2,29 CO2 tons per year
Plot 3 in Tartanedo-Hinojosa – 13,71 CO2 tons per year
Plot 4 in Tartanedo-Hinojosa – 17,98 CO2 tons per year
Plot 5 in Tartanedo-Hinojosa – 27,66 CO2 tons per year
Plot 6 in Almadrones – 16,04 CO2 tons per year
Proposal submitted to the Crown network
Project Name: NFTree – Offset CO2 with NFT certificates
Short URL: https://nftree.org/index.php/proposal/
Authors: Micorriza Association
Proposer’s email address: [email protected]
Funds requested: 12 x 3838 CRW
Proposal name: NFTREE CO2 2021
Proposal Hash: 04e7fc9b490469c340ae97eae8339a6061137427296d5e5728ee144abe53644d
Crown Central proposal link: https://crowncentral.net/proposals?p=266-nftree-co2-2021