NFTs and NFTrees – terms that flooded all of mainstream and less mainstream social platforms.
But what are they? Why are people talking about them? How to find out more about them? Why should I be interested in them? Let’s elaborate a bit more on this topic.
What are NFTs?
To start with, NFT stands for Non-fungible token. They are pieces of digital content linked to the blockchain, the digital database underpinning cryptocurrencies such as Bitcoin and Ethereum. Unlike NFTs, those assets are fungible, meaning they can be replaced or exchanged with another identical one of the same value, much like a dollar bill.
To clarify, even more, you can trade bitcoin for another bitcoin, and you’ll have precisely the same thing. In the NFT world, if you decide to trade your token, you will get something completely different, which means no two NFTs are the same.
What can be an NFT?
Using simple terms, anything digital can be an NFT – NFTs transform digital works of art and other collectibles into one-of-a-kind, verifiable assets that are easy to trade on the blockchain. Anyone can create an NFT. All that’s needed is a digital wallet, a small purchase of Ethereum, and a connection to an NFT marketplace where you’ll be able to upload and turn the content into an NFT or crypto art.
For example, the first-ever tweet from the creator of Twitter, Jack Dorsey, was sold for $2.9 million to an anonymous buyer. A video clip of a LeBron James slam dunk was sold for over $200,000. Another example is the Bored Ape Yacht Club, a collection created by Jimmy “j1mmy.eth” McNelis. They are a bunch of AI-generated digital apes. They have recently been bought by Universal Music to form a band.
To conclude the story of the NFTs by saying that its purpose is to allow people to support artists, getting some fundamental usage rights, like being able to post the image online or set it as your profile picture. Furthermore, a collector might buy it and hope its value goes up one day and turns into profit. And finally, it gives an artist a new market to express themselves.
Where do trees come to the story and why are NFTrees so popular at the moment?
NFTree is an idea where non-fungible tokens meet environmental awareness. By buying an NFTree token, the real trees will be planted and LinkedIn with NFT via metadata so that everyone can keep track of them.
In a world where Climate Change is the biggest threat to our planet and where crypto and blockchain technology is becoming a market with enormous growth, people find themselves quite interested in contributing to the preservation of our globe with the possibility of gaining financial benefit.
How to buy your NFTree?
Coorest, a company built on the foundation to onboard everyone who wants to participate in the battle for a brighter future for our planet, offers a sustainable model of investing in NFTrees.
Furthermore, there is one more possibility to get profit, as you will receive yield based on the fruits produced by your NFTtree.
After four years when the fig tree is growing its fruits, the owner of the NFTree earns a 20% annual yield of the actual bond value when fruits are sold.
By purchasing a tree through Coorest, your NFT will be linked with a real tree. The amount of CO2 engrossed by the tree will be tokenized for the next twenty years, and they can be traded on the blockchain platform.
For transparency, after each tree purchase, an owner will receive a certificate with the location, the breed, the amount of CO2 absorbed, and the date the tree has been planted. The trees will be planted on the beautiful orchard in Spain, and it is possible to visit it.
Buy your tree now!