Forest NFT Partnership

Forests - the lungs of our planet

Today, forest owners around the world are financially incentivized to cut down the trees that clean our air and provide food and shelter for the diverse ecosystems that protect our planet. They cut old-growth trees, replacing them with fast-growing monoculture tree plantations to minimize the times to the next harvest.

But forest owners are not the villain in this story. They are only acting in the best interest of their families based on the incentives that are provided to them. It is up to society to provide an alternative to timber harvesting that is both profitable and aligned with our values.

CarbonHive's first carbon project NFT will provide direct financial incentives to forest owners to preserve their trees instead of logging for income. CarbonHive has partnered with Proimagery to develop these projects, with an expected launch of the first Forest NFTs in Q3 2022. Forest NFTs directly preserve mature forests which are monitored to ensure the forests are protected from deforestation.

Here's how CarbonHive and Proimagery work for you:

Step 1 - Forest Partnerships

Proimagery will forge partnerships with forest owners who agree to protect their mature, biodiverse forests for a set period of time in exchange for an up-front payment. They earn a fair, guaranteed, and predictable income to protect trees as a viable alternative to logging.

Step 2 - Carbon Accounting

Proimagery will quantify the carbon sequestered in the forest and project the impact over a long-term horizon to calculate the quantity of Virtualcarbon to mint.

Step 3 - CarbonHive Launchpad

CarbonHive will launch Non-Fungible Tokens in the CarbonHive metaverse, with proceeds going to fund the forest partnership.

Step 4 - Project Period

During the project period, Virtualcarbon is minted and distributed to NFT collectors on a monthly basis. Proimagery regularly monitors the forest using satellite imagery to ensure the forest continues to sequester carbon at its expected rate.

Step 5 - Trading

NFT collectors can trade their NFTs and Virtualcarbon on the CarbonHive marketplace. Virtualcarbon can be burned to formally offset a collector's personal carbon footprint.

Step 6 - Relaunch

When the project reaches its maturity date, NFTs will continue to exist on the tradeable CarbonHive marketplace but will cease yielding Virtualcarbon. Forest partners are financially incentivized to renew their pledge to protect their forests and launch a new NFT.