iSHANG and Earth Exchange unveil an NFT program for sustainable digital carbon trading.
iSHANG, Coinstreet Group’s Web3 branch, in collaboration with Earth Exchange, has launched an innovative NFT Staking Program. This initiative is a response to the 2023 COP28 climate conference in the UAE and represents a significant step towards environmental sustainability.
The program introduces a unique concept where participants can earn carbon rewards through NFT staking, which are exchangeable for the “Lowest Carbon Denominator” (LCD) Token. This new token, adhering to UN Climate Standards, establishes a value for each digital carbon unit, ensuring authenticity and preventing fraud.
As a pioneer in “Web3-as-a-Service” solutions, iSHANG collaborates with Earth Exchange, a subsidiary of Promax United & Preferred Partners, to spearhead digital transactions in the environmental and climate change sectors. Their joint venture is centered around an NFT staking program aimed at preserving the integrity of carbon offsets and broadening the scope of voluntary carbon markets.
The LCD token’s role
Consistent with UN Climate Standards, the LCD Token sets a fundamental value for each digital carbon unit, derived from environmental sequestration. Its thorough traceability guarantees authentic transactions, providing a shield against counterfeit and manipulation. This is key to maintaining the integrity of transactions within the digital asset ecosystem.
The LCD Token plays a crucial role in authenticating and safeguarding transactions. The LCD-NFT staking program, presented by the partnership, offers four levels of participation—Advocate, Activist, Ambassador and Warrior. This enables users to mint collectible NFTs, thereby promoting environmental awareness and contributing towards sustainability.
Samson Lee, Co-Founder at iSHANG, highlights the utility of their NFTs on their eco-friendly platform based on the Polygon blockchain. “Utility NFTs present a range of practical applications beyond mere collectible artwork. In this instance, the LCD-NFTs function in real-time, enabling users to seamlessly integrate their enthusiasm for virtual assets with a dedicated commitment to environmental sustainability,” he asserted.
H.E. Louai Mohamed Ali, President of Promax United, and H.E. Dr. Mohamed Hussein Al Ahdaly, CEO of Promax United, highlight Earth Exchange’s commitment to the United Nations’ 2030 Agenda for Sustainable Development. They aim to combine virtual asset ownership with environmental responsibility, offering a sustainable platform for users to support environmental causes.
The collaboration between iSHANG and Earth Exchange allows users to support environmental initiatives by minting and owning NFTs. This not only aids sustainability efforts but also allows users to earn and exchange carbon rewards for the LCD Token. The initiative aligns with the United Nations Framework Convention on Climate Change (UNFCCC) standards and plays a crucial role in global climate change initiatives, promoting secure and transparent transactions and empowering sustainable practices.
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Press release link: https://www.prnewswire.com/news-releases/breaking-new-ground-ishang-and-earth-exchange-unveil-revolutionary-nft-staking-program-for-environmental-sustainability-in-response-to-the-cop28-climate-conference-302040364.html