In a groundbreaking collaboration, iSHANG, the Web3 branch of Coinstreet Group, has joined forces with Earth Exchange to introduce a revolutionary NFT Staking Program. This initiative, born in response to the 2023 COP28 climate conference in the UAE, marks a significant stride towards environmental sustainability.
The Unveiling of the NFT Staking Program
The program introduces a distinctive concept where participants have the opportunity to accrue carbon rewards through NFT staking. These rewards are exchangeable for the “Lowest Carbon Denominator” (LCD) Token, a novel token that adheres to UN Climate Standards. This innovation establishes a definitive value for each digital carbon unit, ensuring authenticity and mitigating the risks of fraud.
Navigating the Environmental Landscape
As a trailblazer 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 collaborative venture is centered around an NFT staking program designed to preserve the integrity of carbon offsets and broaden the scope of voluntary carbon markets.
Upholding UN Climate Standards
Aligned with UN Climate Standards, the LCD Token sets a foundational value for each digital carbon unit, derived from environmental sequestration. The token’s meticulous traceability ensures genuine transactions, establishing a robust defense against counterfeiting and manipulation. This meticulous approach is pivotal in maintaining the integrity of transactions within the digital asset ecosystem.
The Crucial Role of the LCD Token
The LCD Token assumes a critical role in authenticating and safeguarding transactions. The LCD-NFT staking program, presented by the partnership, introduces four levels of participation—Advocate, Activist, Ambassador, and Warrior. These levels empower users to mint collectible NFTs, fostering environmental awareness and contributing to the global mission of sustainability.
Insights from Industry Leaders
Samson Lee, Co-Founder at iSHANG, emphasizes the utility of their NFTs on their eco-friendly platform based on the Polygon blockchain. He states, “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.”
H.E. Louai Mohamed Ali, President of Promax United, and H.E. Dr. Mohamed Hussein Al Ahdaly, CEO of Promax United, underscore Earth Exchange’s commitment to the United Nations’ 2030 Agenda for Sustainable Development. Their aim is to merge virtual asset ownership with environmental responsibility, providing a sustainable platform for users to champion environmental causes.
Advancing Climate Initiatives Through NFTs
The collaboration between iSHANG and Earth Exchange empowers users to actively support environmental initiatives by minting and owning NFTs. Beyond aiding sustainability efforts, users can earn and exchange carbon rewards for the LCD Token. This initiative aligns with the United Nations Framework Convention on Climate Change (UNFCCC) standards and plays a pivotal role in global climate change initiatives, promoting secure and transparent transactions while empowering sustainable practices.