Project Problem

The ecoToken System aims to tackle a few problems in the environmental credit space. A main problem the ecoToken Impact NFTs aim to solve for environmental credits is a lack of clear and uniform verification of offset. Credits exist on multiple registries that do not communicate with one another. Even on chain carbon credits exist in various forms across multiple chains with the only solution being bridging. Another problem is funding. Small environmental projects and technologies often get overlooked in favor of high cost, established technologies. A key reason for this is that these small projects have limited revenue sources relative to the positive environmental outcome they produce. This causes a reliance on donations while the funders of these projects get nothing in return.

Project Solution

We are providing a way to retire carbon and other environmental credits cross-chain with NFT verification including the txn of the credit retirement imbedded into the NFTs metadata. This provides a clear proof of offset that anyone or group can feel comfortable displaying. Our long term plans involve giving access to crowdfunding that avoids slow bureaucratic funding channels and gives more flexibility to project managers. ecoToken helps projects generate new revenue sources through the generation of carbon credits, water credits, and NFTs that can be sold in the ecoSystem and across blockchain marketplaces. We aim to avoid the reliance on philanthropy by allowing users to fund these environmental projects they think will make a difference and receive the environmental credit rewards.