DigitalX CEO Lisa Wade advocates carbon offset koala NFTs as crypto power forever

DigitalX ASX DCC

Lisa Wade, CEO of DigitalX, one of Australia’s leading blockchain technology and investment companies, speaks to Stockhead about NFT carbon offset koalas.

Different from FTX-fallout news, right? Well, we’ve covered that too, along with some of Wade’s thoughts on NFTs and cryptography more broadly.

Hi Liza. Let’s start with the backstory of NFT DigitalX Koala Impact?

Certainly a thing. As you know, a really brilliant use case for blockchain technology is non-fungible tokens. And a really great way to use them is to create carbon NFTs. We do quite a lot of work related to carbon markets, and I have some previous history with this, as I was involved in the creation of the Carbon project during my time at the National Bank of Australia.

But for this project, DigitalX is partnering with an organization called Meta Carbon, which is based in New York and partly owned by Animoca Brands. [an influential NFT, gaming and metaverse-focused firm]. We have collaborated to create the Carbon Koala NFTs, which have a dual purpose.

In fact, this is one of the first NFT projects to have both social and environmental impact, which is right in the wheelhouse of Meta Carbon.

Could you briefly tell us about these two use cases?

The social part of this comes in the form of a donation to the koala sanctuary. [Hospital?] in Port Macquarie, and the environmental impact associated with the purchase and sequestration of half a tonne of carbon in NFTs. Each NFT costs $25, with two separate reasons.

We channel funds through the WWF for Nature and Meta Carbon facilitates this donation.

Are these NFTs aimed at companies or retail investors?

Corporations. We don’t crack NFTs in the retail sense. I think this is just the perfect use case for firms that would like to champion good corporate behavior. We see it as a truly unique way to accomplish something meaningful.

There is a very famous quote by Lou Holtz: “When all is said and done, more is said than done.” There’s so much talk out there and that’s our modus operandi.

Our personal goal with them is to use the NFT Carbon Koala to bring worldwide attention to the plight of koalas and offset our emissions for any function or event we attend.

Can NFTs also be considered to have investment value as a collectible?

Think of them more as a collectible that benefits the world, rather than an asset to be invested. But as you know, the value of collectibles works in a mysterious way. Maybe in five years everyone will want a carbon koala, and there will only be a limited number of them.

As for the koala aspect, is that something you have a personal interest in?

Absolutely. The fate of the koala is very close to my heart and Liz, our head of marketing. I am a passionate environmentalist with a background in sustainable finance and have advised and assisted Meta Carbon since its inception.

They have an NFT series of endangered species called “Carbon Creatures” so we specifically asked for an Australian one. The koala has really made a splash by being world famous, as well as the recent wildfires in Australia that wiped out the population.

While this is one of the carbon beings (that caters to the general public), ours is a little different, as mentioned, as it is presented to corporations – we sponsor them and take responsibility.

“I wish more people would use cold storage wallets”

What else is it about NFTs that makes you believe they have good potential for use?

I actually think they’re just a great use case for people to learn how to use cryptocurrencies and learn how to use wallets and I think that’s important for this area.

What happened in the markets when FTX apparently misappropriated investors’ funds, I have a little personal mission to make sure people really understand the dangers and the need to read the fine print about how some exchanges work. .

And I wish more people would use cold storage wallets. [self custody, off exchanges] and understanding how to do that, and I think starting to invest in NFTs and learning how cold storage works – that side of things is going to be very helpful for people coming into crypto.

How do you feel about the exchange? We often associate with those who have a great reputation here in Australia.

There are some very good ones there. So unless people are willing to use cold wallet storage, I would just suggest doing your research, making sure the exchange doesn’t mix your funds, making sure it’s not overburdened, making sure there are guarantees. .

“Blockchain didn’t explode this week”

Do you have any further views on the FTX debacle while we’re talking exchanges?

FTX was a centralized platform for the sale of decentralized financial instruments. Blockchain didn’t explode this week. The exchange, a business only three years old, went bankrupt. And businesses that are only three years old go bankrupt every single day.

Entrepreneurs make mistakes all the time, young people who run very successful businesses make mistakes all the time, and so do young women. And that’s what we’ve seen this week.

We saw a guy who overexerted himself and believed his own advertising. But still, I think this will go down in history… that level of destruction of personal wealth in less than a day? I have never seen anything like it, let alone the fraud he is accused of.

“The industry cares a lot about the environment”

NFTs, like much of crypto, have a bad reputation for being bad for the environment – at least that’s what many people outside the cryptosphere think. Unfair?

Now that Ethereum is 99.995% more energy efficient since the merger, this is quite a moot point. Most of the blockchains that mint NFTs are now Proof of Stake. And we mint our NFT koalas on Polygon, which is by far one of the most energy efficient networks.

Ethereum has really dispelled many arguments in favor of a carbon footprint. It’s a good move for the industry that you can do things like this without having to worry about the environment.

Should the crypto industry do more to address climate change?

I actually think the industry is very environmentally conscious. But in my experience of responsible investing, I have found that there will always be people who don’t care.

And they work in every industry. Look at mining – there are responsible miners, there are people who will do everything possible to “green”. And there are people who really don’t care.

And you will get it in any industry. I think those of us who can be responsible should be responsible. But I would certainly like it if the world as a whole, in all sectors, were more environmentally conscious.

“Ethereum is the greenest financial railway ever created”

Do you see the crypto industry as a potential force for the environment?

That’s the problem. I see Ethereum as the greenest financial railway ever created. And that is why we are betting in ETH – because I believe that we have a chance to fix everything.

No one has ever measured the carbon footprint of an ATM or credit card—all traditional payment systems transport money. And now we have a great opportunity to reboot and reboot, and make the foundations of life we ​​live independent of carbon emissions and environmental damage.

We can have economic growth associated with lower emissions and positive social outcomes. And I think that’s why I’m so passionate about cryptography, because cryptography can build that.

Agree and well said!

We just need time and space to do it. I am certainly ready to do the job, as are DigitalX and many other people I know in the field.

There is so much going on in the crypto space for the environment. And I think crypto really has an opportunity to take the lead.

Because money is the oxygen that finances all the good and all the bad, and you know what, cryptocurrencies are essentially about money. And so we have the opportunity to really play our part.

Despite all its infancy shortcomings, I truly love this space and see it as a great opportunity for us to really facilitate and accelerate the transition to what we call a low carbon economy, which I now simply refer to as the “Web3 economy.” . And that’s because I think it’s the financial railroad of the future.

This article was developed in collaboration with DigitalX, Stockhead’s advertiser at the time of publication.

This article is not financial product advice. Before making any financial decisions, you should consider getting independent advice.

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