Introducing the Wildlife Tokenization Project
Wildlife conservation is an integral part of preserving the diversity of life on the planet. Conservation projects around the world all have a common goal — to protect endangered species and the ecosystems they live in, so future generations can experience the wonder of nature. Although the preservation of wildlife is a noble and worthwhile cause, it is also an expensive venture. This inevitable reality creates a need for alternative ways of supporting wildlife conservation projects… a need that Coorest is eager to fulfil.
Coorest’s wildlife tokenization project uses blockchain technology to support wildlife conservation. The project is centred around the transformation of endangered animals into exact NFT replicas. Following the sale of these NFTs, the resulting profits will contribute to providing food, shelter and security for the animals they represent, and supporting the nature reserves in which they live. Each wildlife token will contain relevant data about the species, age and gender, specific to each tokenized animal. The NFTs will most likely be featured in certain games and Metaverses, giving their owners exciting possibilities. It is important to mention that owning wildlife NFTs does not give ownership over the animals.
Recently Coorest partnered with the PLCnetwork of the Southern Hemisphere to launch the wildlife tokenization project in a private nature reserve in Africa. According to the PLCnetwork, private reserves generally have a bigger budget dedicated to conservation efforts. This means that animals in those reserves are generally well protected and receive proper care. However, the conservation of these animals, especially for species like the African bush elephant is extremely expensive — fencing, monitoring, 24-hour anti-poaching patrols, and veterinarian support are all regular costs. This is why Coorest and the PLCnetwork will offer a variety of wildlife NFTs, such as elephaNFTs, lioNFTs and NFTcheetahs to name a few. The PLCnetwork promises to also offer visits to the nature reserves in the future where people can see and learn more about the animals linked to their NFTs.
While the exact details of the wildlife tokenization project are still being specified — like which reserves will host the project and what utility will the NFTs have, the fact remains that this is the start of a truly unique project that is both good for people and animals alike.
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