On May 29, Oceans & Us, declared that it intends to bring in $1.2 million in subsidies to tidy up oceans around the world. The non-profit group based in Dubai wishes to raise funds by selling 10,000 non-fungible tokens (NFTs) and sending off other digital money.
The green firm, Oceans & Us, intends to use crowdsourcing to acquire funding by launching its own coin.
Whoever purchases or owns the NFT will receive discounts or benefits from these companies.
The point of the organisation is to bring issues to light and assets to develop boats that clean the ocean.
Oceans & Us will collaborate with different firms, including the group behind the Qatar World Cup, the top UAE-based retailer, Landmark Group, espresso brands that as of now have a mission to advance green practices, solar-powered home arrangement organisations, and maintainable design brands, among others.
The startup said that it is intently working with Marakeb Technologies, a significant tech firm situated in the United Arab Emirates, to plan independent, self-propelled boats controlled by AI that will clean plastic off of seas and streams.
The Abu Dhabi government owns 30% of Marakeb Technologies. The introduction of the AI self-driving boats is planned for July of this year.
Joel Michael, the founder of Oceans & Us, discussed the progress and stated that the partnership’s major goal is to bring the community together and use art as a medium of communication.
“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.”
“The biggest thing we want to solve is transporting plastic we collect back to land so it can be repurposed.”
He disclosed that since the government supports such initiatives, firms in the private markets are seen joining hands. “We have seen tremendous support from the UAE and think it’s the epicentre of sustainability in the region.”
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