In a significant effort to aid endangered wildlife, the British television channel WildEarth has introduced its own line of NFTs. Notably, 40% of the proceeds from the initial sales will directly benefit local stewards of the land where these animals reside.
In a recent discussion, WildEarth’s co-founder and CEO, Graham Wallington, elaborated on this initiative, emphasizing the belief that nature has the capacity to thrive if given the right environment. The core mission revolves around providing economic incentives to local communities to deter poaching.
Unlike traditional cryptocurrencies, NFTs represent unique units of data linked to various digital and physical assets, including images and videos. Their individual identifiable nature has garnered interest from conservationists, as NFTs can be associated with digital representations of endangered species. The funds generated are then directed back toward conservation initiatives.
WildEarth, a 24/7 live British TV channel dedicated to nature, has joined the movement by launching conservation-themed NFTs. In a pioneering move, their token, “WildEarth NFT,” allows viewers to become virtual custodians of the animals showcased in their programming.
“This has been a substantial undertaking,” stated Wallington. “It’s gratifying to finally bring our NFTs to the market.”
Initially, WildEarth is launching its “Genesis Collections,” featuring 11 leopards, nine lions, and five hyenas. Of each WildEarth NFT sold, 40% will be allocated to the habitat’s custodian, with an additional 8% from future transactions converted to local currency and indefinitely provided to these guardians.
“The royalties will incentivize the local custodians to protect wildlife habitats,” Wallington noted. “Conservation should focus on ensuring that local populations can thrive without resorting to practices like hunting or safari tourism.”
Sustainable conservation efforts often arise from creating economically viable alternatives that encourage preservation. The mantra is simple: if it generates profit, it remains intact.
WildEarth has also addressed environmental concerns regarding the blockchain used for its NFTs. Critics often highlight the energy consumption associated with NFTs, but WildEarth has taken a different path.
“One of our primary challenges was to avoid high-energy NFTs while ensuring our tokens reach major secondary markets like OpenSea,” Wallington said. “Achieving both goals was complex, particularly because the Ethereum platform—where most NFTs currently exist—is carbon-intensive. One NFT transaction can consume the same amount of energy as a typical US household does in six days.”
To mitigate this, WildEarth opted for the “Polygon sidechain,” which allows their tokens to be available on OpenSea while reducing energy consumption by 100,000 times compared to Ethereum. “Minting a WildEarth NFT on Polygon consumes energy equivalent to watching our channel for just 10 minutes,” Wallington explained.
By the fourth quarter of 2022, WildEarth plans to offer NFT owners access via a mobile app to videos, images, and details about their animals’ movements over time. This app will also facilitate interactions among NFT holders, allowing them to connect with like-minded conservation enthusiasts.
“The value of these NFTs transcends financial gain,” Wallington asserted. “We aim to foster a sense of connection and experience. By owning a unique NFT tied to an endangered species, individuals can follow the animal’s journey through our broadcasts and engage with fellow NFT owners through our app-based community. This level of interactivity is essential for the future of conservation.”
Looking ahead, Wallington speculated on the evolving role of NFTs. “Currently, NFTs are often associated with digital art, but we should emphasize their broader applications. They represent a groundbreaking advancement in the authentication and trading of real-world assets. In a few years, we could see them as commonplace as email addresses.”
WildEarth’s NFT initiative exemplifies the potential of this technology to revolutionize supply chains, redefine asset management, and integrate ecological considerations into our economic systems.