Ichang and Earth Exchange Launch Eco-Friendly NFT Staking Initiative – JumpStart Magazine
iSHANG and Earth Exchange unveil an NFT program for sustainable digital carbon trading.
iSHANG, the Web3 arm of CoinStreet Group, has launched an innovative NFT staking program in collaboration with Earth Exchange. The initiative is a response to the 2023 COP28 climate conference in the UAE and represents an important step towards environmental sustainability.
The program introduces a unique concept where participants can earn carbon rewards through NFT staking, which are exchangeable for “lowest carbon denominator” (LCD) tokens. This new token establishes a value for each digital carbon unit, ensuring authenticity and preventing fraud, while adhering to UN climate standards.
As a pioneer in “Web3-as-a-Service” solutions, iSHANG collaborates with Promax United and Earth Exchange, a subsidiary of Preferred Partners, to promote digital transactions in the environment and climate change sectors. Their joint venture is centered around an NFT staking program that aims to preserve the integrity of carbon offsets and broaden the scope of voluntary carbon markets.
Role of LCD Token
In line with UN climate standards, the LCD token sets a fundamental value for each digital carbon unit derived from environmental sequestration. Its full traceability guarantees authentic transactions, providing a shield against counterfeiting and manipulation. This is key to maintaining the integrity of transactions within the digital asset ecosystem.
The LCD token plays a vital role in authenticating and securing transactions. The LCD-NFT staking program, offered by the partnership, offers four levels of participation – Advocate, Activist, Ambassador, and Warrior. It enables users to create collectible NFTs, thereby promoting environmental awareness and contributing to sustainability.
iSHANG co-founder Samson Lee highlighted the utility of his NFTs on its eco-friendly platform based on the Polygon blockchain. “Utility NFTs present a range of practical applications beyond simply collectible artwork. In this example, LCD-NFTs function in real-time, enabling users to integrate their enthusiasm for virtual assets with a dedicated commitment to environmental sustainability,” he stressed.
His Excellency Louis Mohammed Ali, Chairman of Promax United, and His Excellency Dr. Mohammed Hussein Al Ahdali, CEO of Promax United, highlighted Earth Exchange’s commitment to the United Nations’ 2030 Agenda for Sustainable Development. Their goal is to combine virtual asset ownership with environmental responsibility, providing users with a sustainable platform to support environmental causes.
The collaboration between iSHANG and Earth Exchange allows users to support environmental initiatives by creating and owning NFTs. This not only aids sustainability efforts but also allows users to earn and exchange carbon rewards for LCD tokens. The initiative is in line with the United Nations Framework Convention on Climate Change (UNFCCC) standards and plays a key role in global climate change initiatives, promoting secure and transparent transactions and empowering sustainable practices.
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Source: www.jumpstartmag.com
