Oceans & Us, a Dubai-based non-profit organization, announced on Sunday that it plans to raise $1.2 million by selling 10,000 non-fungible tokens to clean up oceans worldwide. The green startup also plans on launching its own cryptocurrency.
To accomplish this goal, Oceans & Us seeks to partner with 100 brands across the UAE and the Middle East with a sustainable product or solution where buyers can benefit from discounts upon owning an NFT.
The company has successfully partnered with various firms, including the team behind the Qatar World Cup, the top UAE-based retailer Landmark Group, coffee brands that already have a mission to promote green practices, solar home solutions companies, and a number of sustainable fashion brands.
The startup is also closely working with Marakeb Technologies, a major tech firm based in the United Arab Emirates, to design autonomous, self-driven boats powered by AI that will clear plastic from oceans and rivers by July this year.
Joel Michael, the founder of Oceans & Us, explains: “Sustainability is an ecosystem, and NFTs work as a gateway. Buying an NFT enables people to invest and participate in a hands-on way. The idea is for all of this to sit on the blockchain that is transparent so every single dollar invested can be seen clearly where it goes.” He added: “We have seen tremendous support from the UAE and think it’s the epicenter of sustainability in the region.”
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