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By MyMetaverse
10/03/2022
Paving The Way for Carbon Sink NFTs
Paving The Way for Carbon Sink NFTs

Saving the World with Carbon Credit-Backed NFTs

At MyMetaverse, our ultimate goal is to enable you to “play games, earn NFTs, save the world.”

We know this sounds like an outrageous dream, but we are putting tangible systems in place to make it a reality and produce measurable real-world results.

The integration of Carbon Credit-Backed NFTs into our ecosystem is the first step towards enabling you to earn NFTs by doing something you love — playing games. NFTs have real value, they can be sold on marketplaces for real money and you can use that money to positively impact your life.

The next step is where things get really interesting: creating a system that enables you to help save the world, without sacrificing the value you acquire or the enjoyment of your overall saga in the metaverse...in fact, this system should enhance your experience.

Enter the Carbon Economy.

Fractionalized Carbon Offsets

The beauty of our Carbon Economy lies in its simplicity. Approximately 10% of our revenue is reinvested directly into Carbon Credits. These credits are purchased from not-for-profit organizations that have provided a service that has reduced the amount of carbon in our atmosphere.

This means that, essentially, we are taking some of the carbon from Earth’s atmosphere and locking it into our digital economy. Together, we're making the act of carbon mitigation see an immediate benefit: value generation.

As we purchase more Carbon Credits, the Carbon is added to our MyMetaverse Account and fractionalized. You are then able to purchase the fractionalized carbon off us, move it to your player account, and use it to buy Carbon Credit-Backed NFTs. These NFTs will have a wide range of utility across all of our ever-growing games and projects.

It’s important to state here that the fractionalized carbon itself is not our product - it is just a currency being used to pay for products within our NFT ecosystem. The NFTs themselves are our products, and the majority of our revenue is reinvested into upgrading the platform, creating more games, and creating more NFT innovations for you to enjoy. The Carbon we purchase and resell to you is more like a self-imposed tax on our economy.

If your sole wish is to purchase carbon offsets for yourself, your family, or your business, we suggest purchasing them from a licensed Carbon Credit provider. MyMetaverse is simply a platform where you can log in, trade NFTs, and passively amass fractionalized carbon credits while having awesome gaming, social, creative, and countless other metaversal experiences.

NFTs, the Coolest Carbon Sink Ever

Once you have purchased Carbon from our store, you can use it to buy, mint, transfer, or withdraw NFTs.

When you buy NFTs off another player or a game on our platform, the sale price of the carbon is sent to the seller.

The carbon used to pay for NFT creation, transferring, or withdrawal fees are locked into the NFTs themselves and removed from the economy forever – which is why we call them Carbon Sink NFTs.

MyMetaverse’s platform fees are as follows:

  • Creating an NFT Blueprint: The larger the supply, the less carbon is placed inside each NFT. We calculate the carbon backing of each NFT in a set by using the following formula: 10kg * SQRT(supply) / supply
  • Sending NFTs: 5kg Carbon per Transfer (paid by the sender)
  • Minting and Marketplace Sales: 10% of each sale (paid by the seller)
  • Withdrawing NFTs: 5kg Carbon per token Withdrawal

This means, the most popular NFTs will naturally accrue the most carbon and have the largest impact on reducing climate change and the amount of carbon our shared metaverse pulls from Earth's atmosphere.

Let’s Save the World, Together - It'll Be Fun

Our mission is to contribute directly to the betterment of our planet, while providing new and exciting opportunities for earning real-world value to anyone, anywhere. We know that our community of supporters, players, and creators are the backbone of what we’re setting out to accomplish, and we couldn’t be more excited to make the world a better place — together.

The team at MyMetaverse have united primarily because we all envision a world where you can enjoy personal sovereignty over the digital assets you own, while drawing strength from the knowledge that you are having a tangible, positive impact on the world around you. We don’t believe you should have to choose between true asset ownership and environmental sustainability -- especially when interacting with something as positive and revolutionary in nature as the metaverse.

That’s why we only transact on carbon-friendly blockchains like Efinity and JumpNet and we have taken our sustainability initiatives to the next level by inventing this new concept of Carbon Sink NFTs.

We are problem-solvers at heart and this is the first of many life-changing, world-saving solutions that we have in our pipeline.

We understand that NFTs are a polarizing and often controversial topic. One of our core values is to always seek negative feedback, which is why we listen attentively to NFT critics and weigh their perspectives appropriately. We do our best to fight the urge to get defensive, because we understand that the collective force of the internet (read: hivemind) is often better than us at pinpointing problems, but can struggle to develop actual solutions to those problems — and that’s where we come in. Developing solutions is definitely where we shine brightest.

Our message to critics of the NFT movement is clear: Let’s not attack each other. Instead, let’s all work together to leave the world better than we found it.

Yours sincerely,

Simon Kertonegoro (Esscay), Founder and CEO of MyMetaverse

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