KEY POINTS
Slovenian energy trading platform SunContract has introduced the world’s inaugural non-fungible token (NFT) marketplace specifically dedicated to real-world solar panels.
The initiative was announced at the Crypto Expo Europe in Bucharest, and will kick off with a solar farm in the Slovenian village of Višnje, equipped with 2,112 solar panels, each represented by an NFT.
Daily energy production from each solar panel-NFT will be automatically sold on behalf of the holders, and the resulting revenues will be directly credited to their wallets in the form of SNC utility tokens.
These tokens, in turn, provide holders with various options, including the purchase of additional NFTs, payment of bills in supported countries, or accessing a range of services available directly on the marketplace. Alternatively, holders may choose to liquidate their tokens.
Token-holders can manage the energy output from their “Personal Power Plant” via a smartphone app, and they can choose to sell their solar-linked NFTs on SunContract’s dedicated marketplace at any time.
The NFTs are designed with a lifespan of ten years, after which they stop generating revenue but remain in the holder’s wallet for potential future benefits or rights from SunContract projects.
In the near future, a new feature will be introduced, allowing NFT holders to use the generated energy in countries where SunContract holds energy permits or licenses. Initially, this functionality will roll out in Slovenia, Croatia, and Estonia, with plans to expand to additional countries.
At the time of writing, the NFT collection associated with the Višnje solar farm has already sold out.
This initiative seeks to democratize access to renewable energy, aiming to provide widespread access to clean energy sources such as solar, hydro, and wind.
This move aligns with the broader trend of leveraging NFTs for environmental causes.
Starbucks Korea recently launched an eco NFT initiative rewarding customers for using personal cups, promoting sustainability through NFT incentives that led to the rescue of 600,000 cups within two weeks.
Similarly, FC Barcelona collaborated with Plastiks last year to release an NFT collection featuring various animals, with each NFT purchase contributing to the removal of 35,000,000 kilograms of plastic from the environment.
