The XELS Platform will benefit from the company’s existing technology, which utilizes cutting-edge satellite imagery and artificial intelligence to map out and quantify the actual amount of carbon being neutralized by protected lands and reforestation efforts in Japan and Australia.
Creating carbon credits is a great use case for batch minting NFTs, which are secure and can’t be duplicated.
Users of the platform can simply deposit, or “stake,” one XELS token per 10 tons of carbon in order to mint a custom carbon offset NFT equal to the amount of carbon they wish to sequester.
Not only will XELS offer the platform for minting carbon offset NFTs, but the company will also introduce a marketplace where users can sell and trade them based on a user’s individual needs.
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