How Web3, NFTs, and DAOs could help boost climate action
Last week I shared thoughts on how the coming massive expansion of distributed solar and battery storage will create opportunities for decentralized business models that allow owners to transact with each other. Decentralization is promising, I concluded, but will still require centralized control for reliability. There is also a lot more to decentralization, with a host of concepts to consider and potentially embrace.
Non-fungible tokens are a start, and I imagine that most readers have, at this point, heard something of NFTs. Perhaps you have seen them in the form of a Bored Ape, or read about their precedent-setting position in the contemporary art world. NFTs can manifest in many forms, but their defining characteristics are technological. The token is a cryptographic asset on a blockchain, and it is unique – it has unique identifying data.
NFTs may sound very art worldly at the moment, but we are seeing climate examples emerge on the same platforms that creative endeavors use. One of them, highlighted by venture capital investor Shayle Kann of Energy Impact Partners, is the 100,000,000 Mangroves project. It is a collection of creative work that will fund the planting (and protection) of a vast number of mangroves with proceeds from the sale of artwork. As Neal Spackman, founder of Regenerative Resources Co. and the sponsors of the mangrove project says, “the digital surface has barely been scratched” when it comes to employing decentralized web technologies to fund environmental projects.
Another concept to consider is the distributed autonomous organization, or DAO. DAOs are member-owned groups that operate on a contract that defines the group’s rules of operation. Decisions made by the group are done by vote, with
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