Slovenian SunContract Kicks Off World’s First Solar Panel NFTs at Major European Blockchain Conference in Bucharest
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At the 2024 Crypto Expo Europe, held in Bucharest on March 3rd and 4th, SunContract, a Slovenian high-tech company specializing in blockchain technology and energy, will unveil a groundbreaking innovation: the launch of the world’s first marketplace for tokenizing real-world solar panels into NFTs.
The inaugural solar farm to be tokenized is located in the village of Visnje near Ajdovscina, Slovenia. This facility, constructed in 2011 and consistently generating electricity since then, boasts a peak power of 517 kW and consists of 2112 solar panels.
What Solutions Do NFTs Offer for Individuals and Families
Each NFT represents a specific solar panel of the solar farm and the holder of the NFT is entitled to the benefits of the specific underlying solar panel.
Owning an NFT token enables the creation of a ‘Personal Power Plant,’ a unique concept introduced by SunContract. This allows individuals to reap the benefits of a specific solar panel, addressing the challenges faced by those committed to the green transition who wish to invest in the cleanest energy sources. Previously, various circumstances hindered such investments. Now, with NFTs, anyone can build their own Personal Power Plant, benefiting themselves and their family with exposure to renewable energies.
How to Utilize Solar NFTs for Energy
In the first phase, the energy generated from the underlying solar panel will be sold on their behalf through SunContracts’ P2P energy marketplace in return for SNC tokens. After deducting fees related to operations and maintenance, these SNC tokens will be deposited in their wallet in the SunContract platform.
Phase two of the project will consist of allowing NFT holders in countries where SunContract has acquired energy permits or licenses (for now Slovenia, Croatia, and Estonia) to directly use the energy produced by their NFT-linked solar panels for personal consumption at home or in their businesses. This innovative approach aims to democratize renewable energy and make it accessible to everyone, including those living in an apartment. It also makes it an easy and liquid endeavor, as these NFTs can be bought and sold anytime on the SunContract platform.
The First of Its Kind in the Energy Sector Worldwide
This service for purchasing NFTs will allow the holder of an NFT to become the master of their renewable energy source, which is harnessed in the cleanest way possible: from the sun. The SunContract NFT marketplace renders the NFTs of underlying solar panels both tradable and liquid. This new energy service, based on blockchain, simplifies the process and provides opportunities for communities to engage more deeply in the transition to green energy. NFT holders will have the option to manage the energy from their Personal Power Plant simply by using their smartphone.
This is one of the first connections of a NFT token with real assets using blockchain technology and it is the first of its kind in the energy sector worldwide.
A few Words about SunContract
Founded by Mr Gregor Novak and Ms Mojca Bajec, SunContract is built on Ethereum blockchain technology. It provides unparalleled transparency for users. They can view all transactions and activities, ensuring visibility and automation of processes.
Blockchain technology also enhances community engagement, allowing stakeholders to participate and advocate for SunContract, particularly in regions where services are yet to be established. The integration of blockchain positions SunContract as a global player, with the addition of an NFT marketplace expanding its international reach.
In the renewable energy market, SunContract stands out with a unique business model, similar to an ‘energy Uber’. This model serves a wide range of consumers, covering both B2C and B2B sectors. The model enables access to SunContract’s services for individuals, commercial entities, and industrial organizations, emphasizing flexibility and inclusivity.
Milestones in SunContracts’ Development
In 2017, SunContract released the first white paper on a peer-to-peer energy marketplace, followed by a successful Initial Coin Offering. In 2018, the company launched the first national-scale retail peer-to-peer energy marketplace.
In 2019, SunContract expanded into Estonia, acquiring a license to operate as a cryptocurrency wallet custodian. In 2021, they upgraded their platform to support energy self-sufficient villages, demonstrating a commitment to sustainable energy solutions.
Recently, they expanded their services into Croatia, laid the groundwork in Estonia, and established an office in Malta.
Future Markets
SunContract is actively expanding into new markets, establishing companies and acquiring energy licenses in Estonia and Croatia. They are exploring integrating NFT technologies and investigating potential markets like Japan.
SunContract is poised for significant growth and community value addition in the coming years with a strategic approach towards global growth and adapting innovative energy solutions. One of their key milestones is establishing SunContract as a ‘unicorn’ in the industry.
CONTACT:
Mr Gregor Novak, co-founder and Chief Innovation Officer
media@suncontract.org
Contact Info:
Name: Gregor Novak
Email: Send Email
Organization: SunContract
Website: https://suncontract.org/
Disclaimer:
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You are advised to conduct your own research and exercise caution. Investments in these fields are inherently risky and should be approached with due diligence.
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