Introduction
Perhaps one of the biggest or trending aspects of blockchain technology is the tokenization of Real World Assets (RWA). How do you convert ownership of physical assets into digital tokens and still transfer the correct amount of value to the rightful owners? Well one company is pioneering a revolution in the tokenization of green energy. The company is called SunContract. This company is not just helping the world generate clean energy from its solar panels and farms, but its also converting the energy generated from the panels into digital tokens.
SunContract solar panels and NFT Market place
SunContract is a company that makes solar panels and helps users generate clean renewable energy. This is already a huge contribution to a clean world, given how much pollution is contributed from fossil fuel and other energy sources. As if making green energy is not enough work, the company is delivering a use-case for their solar farms and demonstrating a great example of RWA tokenization.
Here is how this project works. The SunContract NFT marketplace gives users a platform where they own, earn and thread NFTs linked to solar panels in the farm. Basically, each NFT is linked to a solar panel. When users buy these NFTs, they have in essence purchased a solar panel in a farm. Now as the panel generates energy from the sun, it is sold to users that needs it. The income it generates is converted to an NFT and is deposited into the wallet of the owner.
As described above, SunContract is able to get as many people as possible into the clean energy sector both as consumers and as beneficiaries. Participants who are holders of the SunContract NFTs could decide to use the energy generated by the solar panels they own, or they could decide to earn income from threading the energy to other users and accumulating more income in form of NFTs.
If you are excited by this massive opportunity or just want to get involved as an early bird, SunContract has something special to reward you. Take a look below:
We are offering a 5% cashback in SNC tokens for the initial 200 NFTs sold. This special offer is limited to the first week post-launch, ending on March 10, 2024. Those eligible for the cashback will receive notification one week after the promotion ends via the email address provided during platform registration. The cashback will be credited to your digital wallet on your NFT marketplace account. source
If this project works out as planned, it would be a powerful and practical RWA tokenization use-case. Take a look at the potential impact of this project in the following section.
Key Deliverables of the project
This project is a first of its kind and so unique in many ways. Combining the best of renewable energy and blockchain technology is no mean feat. Here are ways this could be a useful project for all:
- Democratization of energy: The energy sector is fully monopolized by big companies that dominate the space. They determine everything, including the technology, energy rates and terms of use. Every other participant is just a consumer. But with this project, everyone is free to join the energy sector and become a service provider by just owning the SunContract NFTs.
SunContract has opened up the energy sector with so many roles to play open to all. Token holders could sell the energy generated from the farms in exchange for the tokens, In this case, they are offering a service for a reward. They could also choose to be consumers by using the energy generated from their own panels. Either ways, they win
- Fractional Ownership: SunContract has made everyone an owner of green energy and related technology through their NFT marketplace. This is a key deliverable of blockchain technology in the tokenization of RWA.
Solar installations are usually expensive which makes them affordable only by the rich. But by purchasing a token, even a user with modest income could become the part-owner of a big energy business.
- Global accessibility of resources: Physical boundaries would no longer be a limitation to participating in the energy sector. No matter where they live, users could purchase the SunContract NFTs and offer the service to other users in return for NFT tokens.
No matter where people live, they need energy. Those that live closer to the SunContract solar farms could be the consumers. People that live too far away from the farms could still participate. When they buy and hold the NFTs, they are infact holders of a huge energy business and customers are always there to buy from them.
- Marketplace: SunContract has provided the NFT marketplace which would make it easy for every participant to get involved. The marketplace is where SunContract NFT tokens could be purchased. Users could also manage their wallets in the marketplace. Consumers could buy energy directly from the token holders without the need for an intermediary. This is a huge opportunity that opens up to all no matter where they live.
Conclusion
This is a big project. If you are a fan of renewable energy and blockchain, then it certain deserves your attention. You can learn more about this project through the SunContract website.
Remember this article is for information purposes and not financial advice. Be sure to DYOR first before getting involved.
Note: thumbnail from pixabay
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