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MaiCoin Group Launches Taiwan’s First Carbon Credit-Backed NFTs on Its New Social Impact NFT Platform, the Common Wealth

MaiCoin Group Launches Taiwan's First Carbon Credit-Backed NFTs on Its New Social Impact NFT Platform, the Common Wealth

MaiCoin Group strives to launch social impact NFTs regularly to support social welfare organizations and give back to the community through MaiCoin/AMIS’s Qubic Creator service—a one-stop NFT store creator solution. Qubic Creator is developed by AMIS Technologies, which is MaiCoin Group’s blockchain solution arm. Following Qubic Wallet, AMIS Technologies has now launched this one-stop NFT store creator service under the company’s exclusive brand, Qubic, to serve the goal of building its own NFT marketplace. Against this backdrop, MaiCoin Group has established the Common Wealth, a platform which aims to link blockchain technology with the common good. As its first project, the Common Wealth joined hands with Taiwan’s emerging illustrator, Island Moment, in launching carbon credit-backed NFTs to promote public awareness on decarbonization and contribute to the environment.

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MaiCoin Group has long been concerned about environmental protection, especially issues related to carbon emissions. Therefore, in addition to its long-standing tree planting project, MaiCoin Group also collaborated with I Love To Plant Trees Company Limited in launching an eco-friendly NFT in October 2021, which were sold out within two hours of its drop. This demonstrates a strong interest in participation among the people and a huge potential for blockchain technology applications.

Carbon neutrality issues have long been one of the focuses of MaiCoin Group. Meanwhile, as the bridges between the cyber and physical worlds, blockchain technology and cryptocurrencies can be utilized to contribute to carbon-neutrality. As a beneficiary of the burgeoning cryptocurrency industry, MaiCoin Group sees the need to proactively help neutralize the carbon emissions generated by crypto-miners. Recently, it voluntarily purchased 2,068 tons of carbon credits from South Pole, and successfully sold 1,800 tons through this recent carbon credit backed-NFT project. For this project, MaiCoin Group invited Taiwan’s emerging illustrator, Island Moment, to produce hand paintings depicting Taiwan’s unique scenery. With the theme of “Preserving Nature for Reciprocal Offerings”, Island Moment produces illustrations of three clean energy sources in Taiwan—wind, water, and sun, to express the idea that the mother nature will reciprocate Taiwanese’s kindness to nature and efforts in preserving natural assets with a cleaner and more beautiful Formosa Island.

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To encourage public participation in decarbonization and eco-friendly activities, a total of 450 carbon credit-backed NFTs have been launched using the ERC-721 standard, with each NFT representing 4 tons of carbon credits. As pointed out by founder and CEO of MaiCoin Group, Alex Liu, “At present, there is a basic international consensus on cross-border carbon trading between governments and enterprises, but in order to make carbon trading more efficient and smoother, blockchain technology shall come into play as one of the solutions; in order to link carbon trading with decarbonization substantively, a heightened public awareness and more committed carbon reduction behaviors are needed. By launching these carbon credit-backed NFTs, MaiCoin Group hopes to spark public discussion around this issue, because ‘reducing carbon emissions to save the planet’ should not be a slogan, but everyone’s daily life.”

MaiCoin Group will take the Common Wealth as the starting point to collaborate with different groups in launching social impact NFTs on a regular basis. In addition, through the borderless nature of NFTs, MaiCoin Group hopes to bring this issue across the world, become a force for good along with the non-profit organizations, and weave a better future with blockchain technology.

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