WWF Hoped NFTS Could Help Protect Endangered Animals, The Internet Disagreed
A global wildlife conservation body thought turning endangered animals into NFTs and selling them as NFAs (Non-Fungible Animals) could help preserve them, but experts disagreed, and the project has now been shelved. NFTs — short for Non-Fungible Tokens — are pieces of digital art registered on a blockchain for the sake of authentication. They're a fleeting fad for many and serious business for others. Regardless of how much someone spends on a cartoon NFT, someone else can just copy it as a JPEG and save it to their computer or phone. The buyer, at least, has the blockchain-verified copy.
Interestingly, the segment is quite diverse, and NFTs can be anything from a pixelated punk cartoon or a stolen audio file to the world's first Tweet or the original source code of the World Wide Web. The NFT marketplace is touted to touch a staggering $35 billion mark this year, and naturally, every cash-loving entity on planet Earth wants a piece of the pie. From flagship killer aficionados like OnePlus and makers of outrageously expensive cars like Ferrari to social media behemoths including YouTube, everyone is trying to flip an NFT or two.
Related: World's Largest NFT Marketplace Reveals Mind-Bending Stat About Free NFTs
The World Wildlife Fund — the self-proclaimed«leading organization in wildlife conservation and endangered species» — also wanted to dabble in the NFT trade. WWF said it was trying to «raise awareness and funds for the conservation of ten endangered species» with its Non-Fungible Animals (NFAs) initiative. To hype its NFT drop, the number of NFAs depicting an animal species was equal to the actual number of that animal in the wild. Per WWF's viewpoint, it adds to that limited edition, aka exclusivity, appeal. Among
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