WiseKey Connects IRL Trees to NFTs with New Marketplace

Credit: ForestNation

WISEKey, a leading global security, blockchain, AI, and loT (“internet of things”) company announced today the launch of eTreeNFT.com, a marketplace for creating sustainable asset-based markets for sequestering carbon dioxide.

Currently, WISEKey operates one of the largest NFT marketplaces for arts. Now users can create NFTs linked to real-life trees that allow certification and monitoring from space using WISESats. Tokens that represent a specific tree can be created, owned, and traded on the blockchain.

The benefit is these tokens can track trees and promote growth and wellbeing, while also enabling more accurate carbon measurements. Potentially, businesses or individuals that prove they’re caring for trees responsibly will be rewarded for helping to offset carbon emissions.

Here’s how it works: When a tree is planted, eTree NFT owners receive an NFT with a price tag that equates to the amount of CO2 sequestered by the tree. These eTree NFTs can then be traded on the platform, created a marketplace where users can participate in incentivized carbon offsetting.

CEO of WISEKey, Carlos Moreira, said that tokenization will let us more accurately track our environmental impact, and that the development of markets is a critical step to create a global market in carbon credits and “enable more efficient pricing and wider access.”

Although NFTs have been criticized in the past for environmental reasons, WISEKey believes that tree planting at a global scale via its new project could play a huge role in tackling the climate crisis.

eTreeNFT.com is a secure marketplace that includes NFT storage and token rewards for participants. WiseKey currently support Polygon and CasperLabs, but aims to add more blockchains soon.

NFTs Are Being Linked to Real-Life Objects

Linking NFTs to real-life trees is a novel idea, and something that could prove beneficial for the planet in the long run. But NFTs representing IRL objects is nothing new. At Rarity Sniper, we’ve written dozens of articles about companies linking NFTs to real-life stuff. Here are a few stories.

First, about two months ago, IHG Hotels & Resorts, a British global hospitality company, launched ten NFTs tied to IRL perks and rewards. The winners of the NFT auction received a digital NFT and a IRL artwork from the modern artist Claire Luxton. They also got an upgrade to InterContinental Ambassador status for a year and a one-night state at a new InterContinental in Rome.

Next, IKEA Space10 is linking NFTs to IRL furniture to encourage better care and a longer lifecycle of the furniture. The company believes it can amplify the life cycle of real-life objects and promote better stewardship and less waste through NFT and blockchain technology. The initiative is called Carbon Banks, since furniture acts as a “carbon sink” and prevents CO2 from entering the atmosphere.

Companies are becoming increasingly creative when it comes to using NFT technology to solve real-world problems. Time will tell if WISEKey’s plan to link NFTs to trees will be successful. But if it is, it could literally be “a breath of fresh air.”