Carbon-Backed NFT Collection Ecosapiens Raises $3.5M


Non-fungible token (NFT) venture Ecosapiens has raised $3.5 million in seed funding in direction of its mission to make blockchain collectibles extra environmentally aware.

The spherical was led by Web3 fund Collab + Foreign money, with participation from traders like founding father of digital vogue firm 9dcc gmoney, vice chairman and head of company improvement at Coinbase Ventures Shan Aggrawal, former chief working officer of Moonbirds Ryan Carson and others.

The character-inspired avatars act as a car for collectors to offset carbon emissions. Every Ecosapien proprietor may also buy further carbon credit to evolve their NFT and acquire rarity traits.

Co-founder of Ecosapiens Nihar Neelakanti advised CoinDesk that he was pushed by a mission to assist the setting. He mentioned that using NFTs as a channel for promoting carbon credit is probably the most environment friendly method to take part in “impact-to-earn,” which permits customers to assist take local weather motion and earn rewards via activism.

“What if we might take carbon credit that really made a huge impact on the earth, deliver them on-chain to make it one-click accessible, however actually, simply disguise these credit as the right signaling artwork piece?” mentioned Neelakanti. “In that means, it is simple, economical, and interesting to make a distinction.”

Neelakanti advised CoinDesk that he plans to make use of the funding to construct out the Ecopsapiens market, take a look at out minting methods resembling open editions and forge model partnerships to develop its presence inside Web3.

In accordance with information from OpenSea, Ecosapiens’ Alpha Assortment, which launched in February, has a ground value of 0.055 ETH, or about $100. The gathering’s buying and selling quantity is hovering round 18 ETH, or about $32,300. Up to now, the gathering says it has helped offset over 1,000 tons of carbon dioxide, equal to planting 40,000 bushes.

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