NFT Forest

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Inspiration

In recent year, many corporations have launched campaign to pursue carbon neutrality.
The missing component is consumer engagement in their campaign. Our Dapp encourages consumers to offset their own carbon footprint by taking ownership of trees, and thus allow consumers and companies to work together to offset CO2.

What it does

We use NFT to represent a physical, live tree.

We offer two financial incentives to purchase a tree NFT:

First, it represents the timber value when it is cut down in the distant future. Older trees are cut down to make way for new trees because new trees absorb more CO2. We’ll pass the proceeds from timber harvest to the NFT owner.
Second, we issue a carbon credit NFT each year for a given tree NFT

How we built it

1) Contracts are developed using Remix and deployed to Polygon Testnet 2) UI is built with Rest 3) Sponsor Tech Components:

Chainlink: Chainlink VRF is used to generate rebate after purchasing
Polygon: Dapp is deployed to Polygon Testnet
IPFS: Use Pinata to store images and Off-chain data of tree on IPFS
Moralis: Use Moralis login and SDK to interact with smart contract
Covalent: Obtain user wallet data

Challenges we ran into

Challenging part is how to structure/architect the Tree and Carbon NFT contract

Accomplishments that we're proud of

Leveraging on blockchain to engage consumers to fight climate change

What we learned

The voluntary carbon market is still in the nascent stage. There's a lot more work to be done to get it to a mature state. We found Moralis SDK quite helpful and it is great for building out prototype.