Community Trust ScoreVerified
Jeremey Firster, Head of Partnerships and Executive Officer for Commercialization, Cardano Foundation expressed: As a global impact challenge, Cardano Stiftung chose a chose an annual ecosystem challenge to ignite and unify the Cardano community. Cardanians in Action.
This represents the true essence of the ecosystems DNA as a blockchain for good and a community that envisions a better world, better yet, we are able to showcase the unique capabilities of Cardano via on-chain activity.
Descriptive utility tokens that redefines what it means to have utility. The usefulness of a token is embedded into the actual metadata. I personally looked at what spacecoins_ADA did for a utility token as the foundation for the Veritree Impact Token.
Animated token design, links to pdf (url in the metadata), links to websites for platform use, full description to define the utility. This redefines how a utility token can be created and engaged with.
Viewing these utility tokens also depends on the wallet. Some show all details while others only show the ticker, TREES, as registered on the Token Registry.
What are the tokens used for? Veritree Impact Tokens represent the unit of account for trees that will be planted by Veritree for the Cardano Forest.
1 ada = 1 tree. It’s a simple yet powerful mechanism to represent SDG Financing using crypto assets.
Once trees are planted, the Veritree impact tokens can be redeemed for an NFT Certificate of Verified Land Restoration. All trees are recorded on the Cardano blockchain. An innovation for use of NFTs and SDG reporting.
For the data collected by Veritree that tracks the trees as they grow, this data is stored in onlyarweave and the repository is connected to the NFT.
More than planting trees, Veritree focuses on land restoration and community development. The team has been doing this for 16 years. Being sustainable before it was a global trend.
As Veritree token holders redeem their tokens for NFTrees, there are digital art assets used to incentivized large redemption’s This adds an additional social layer to SDG impact and creating stronger communities and interactions.
The Global Impact Challenge is truly a Cardano community project. The Cardano Foundation has collaborated with SPOs, NFT creators, tool developers, artists, enterprises, and focused industry groups in order to ensure we deliver a project that delivers real value.
Climate Impact has been one of the largest social trends during 2021. And as a differentiator, the Veritree Impact Challenge empowers the Cardano community to offset CO2 produced by the Cardano ecosystem. It’s a project where we can all participate and we can all benefit.
It truly represents the power of a decentralized ecosystem and brings global attention to a global problem.
It also represents the value of having an amazing community. So far over Cardanians have participated. This includes several SPOs, NFT projects, Cardano based projects, and over 50% small individual supporters.
Global Impact Challenges will happen annually at the Cardano Summit where a new challenge is chosen each year.
One of the main themes for the challenges is demonstrating tangible, real-world applications which advances the use of the Cardano blockchain, showcasing the Art of the Possible.
