Source: Nftplazas / Russell
Ground-breaking NFT powered energy efficiency platform, EFFORCE, has announced the imminent arrival of its genesis collection. A tremendous set of high utility NFTs that us a ‘proof of contribution’ concept to track participation in energy saving initiatives. Essentially, allowing owners to stake their NFTs in one of a number of projects, earning a share of the money saved in return.
The Steve Wozniak Inspired Genesis Collection
Through the eye-opening new use of NFTs, EFFORCE will back each project it launches with 2,500 genesis NFTs. The initial two of which will take inspiration from the commanding persona of Apple and EFFORCE co-founder, Steve Wozniak, while maintaining the platform’s ecologically sound credentials by minting on the soon-to-be carbon negative, Polygon network.
In a heady use of digital artistry, each NFT will arrive in the form of a 3D digital rendition of the mighty businessman, all rendered in glorious high resolution to take pride and place in any serious collectors’ digital wallet, while remaining fully tradable on a number of high calibre NFT marketplaces.
How it All Works
In a nutshell, EFFORCE has put together a method of using NFTs to track participation in energy saving conservation projects. Essentially, those with a will to take part can purchase one of 2,500 NFTs per project and then stake that NFT and a predetermined number of WOZX, the utility token of EEFORCE, to earn rewards.
Through the initiative, EFFORCE will use the funds raised to initiate energy saving enterprises for participating businesses on a no-cost basis. The company will then track the energy savings made through each endeavour, and redistribute 1% of those savings as staking rewards.
Once staked, those participating will begin earning long-term yield in the shape of mWOZ tokens, pegged to $1 USD of saved energy. However, should they wish to liquidize their assets, they can choose to trade their positions on a secondary marketplace.
Getting the Ball Rolling
For the first drop, EFFORCE has lined up two projects, resulting in 5,000 NFTs. One to restructure the cooling and air-conditioning needs for the firm involved and the other to increase energy efficiency for a sewage plant. The first will retail NFTs at $210 apiece and require an additional 400 $WOZX for staking. while the second will operate at the slightly lower $190 and 380 $WOZX.
All in all, an intriguing use of the NFT as a power for good, with the potential to help heal the planet.
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