Green startup raises NFT funds to clean ocean garbage

A green start-up company raises money for NFT to clean up rubbish from the sea – Mail Bonus

For many companies, sustainability is a side issue, but for Oceans and Us, a Dubai-based company founded by serial entrepreneur Joel Michael, it’s the main focus.

But this green enterprise is not just concerned with the future health of our world. Oceans and Us plans to raise money by selling 10,000 non-commercially available cash tokens, as well as by creating a new cryptocurrency.

NFT is a kind of digital asset that represents treasures on the internet such as art, music and video games. It has a blockchain-based authentication certificate, which is the same technology that enables cryptocurrencies to exist.

Seas and Us is teaming up with NFT artist Vesa Kivinen, commonly known in the cryptocurrency community as VESA, to raise $ 1.2 million to help clean up the world’s oceans.

VESA is a well-known digital artist who has been collecting followers for the last 10 years.

“He is a very passionate artist on climate change and works a lot with sea corals,” Joel Michael, creator of Oceans and Us, said in an exclusive interview with Arab News. The aim of this collaboration is to bring the community together and use the art as a means of communication. “

“Buying NFT gives consumers a practical way to invest and participate.”

Sustainability

The idea is that people who acquire NFT can take advantage of the additional benefits. Oceans and Us plans to partner with 100 companies in the UAE and the Middle East to produce or sell environmentally friendly products. Anyone who bought or owned an NFT would receive a discount or other benefit from these companies.

“Sustainability is an ecosystem and NFT is like a gateway,” said Michael. “Everything will be on the blockchain, which is open to the public, so that anyone who invests money can see where they are going.”

Negotiations between Oceans and the United States and those responsible for the World Cup in Qatar have gone further. It is also in initial talks with Landmark Group, a leading retailer in the United Arab Emirates. It intends to work with Landmark Group on a sustainable clothing initiative for Splash, its leading fashion brand.

The new company is also partnering with coffee producers who have already committed to sustainability, from the cups they use to the beans they buy, to providing NFT owners with savings. He also talks to providers of solarium solutions and sustainable fashion designers.

The green company also intends to enter the market as a way of financing. The goal is to raise money and awareness so that a boat can be built to clean the sea.

The company is collaborating with Marakeb Technologies on a self-propelled artificial intelligence boat that can sweep up rubbish in rivers and the sea.

Marakeb Technologies is a company based in Sharjah. The Abu Dhabi government controls 30 percent of the company. The boat’s maiden voyage is scheduled for July 2022.

“Marakeb has the capability to build boats that can put out fires in the UAE if that ever happens, and we are working with them to build a boat that can do whatever it takes without a person on board,” she said. “That way, no one’s life on board a boat is in danger,” said Michael.

“We are looking for someone to help us come up with new ideas, such as running the entire company on wind, solar or kinetic energy. The most urgent issue we need to address is how to bring the plastic we collect back to land so that it can be recycled. “

Just step off the ship

The next goal of the project is to raise money for a cash prize as part of the Global Innovation Challenge, an eight-month program that includes events, seminars and partnerships with hatcheries and universities to submit ideas for boats.

The competition will start in August 2022 and winners will be announced 60 days later. The goal is to make the boat public for the United Nations Climate Change Conference in Dubai in 2023.

“The Middle East is putting so much pressure on climate change and we are seeing positive results in the strongest possible way,” said Michael, who has worked in the sustainability sector for more than a decade. “For the last ten years, Europe has been at the helm, but now everything is moving towards the Middle East.

Sustainability is an important focus in the Gulf region. Saudi Arabia’s Crown Prince Mohammed bin Salman launched the Green Initiative in the Middle East late last year with the aim of raising $ 10.4 billion in funds and renewable energy projects to reduce carbon emissions.

Michael also discussed the positive results of COP 27, which took place in Egypt, and COP 28, which will take place in Dubai shortly.

“Things are coming together in the private sector because the government supports these initiatives,” he added. “The UAE has been very helpful and we believe it is the area’s sustainability center.

The Green Tech Alliance, a group of 350 CEOs who want to manage things in an ecologically sustainable way, has Michael in charge of the area. The entrepreneur has spent the last ten years working in the field of start-ups and venture capital, with an emphasis on sustainability.

“No company can have a significant impact.” We do not want to compete with companies that clean the ocean or set the pace in their industry. Our goal is to help investors and participants put their money in the right places, from the innovation challenge to the symbol. “We see ourselves as nothing more than a network administrator,” he said.

Oceans and Us is working hard on a self-propelled boat that will premiere this summer. They have ten employees worldwide who work from various places.

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About Humano

He is a freelance writer based in Turkey. He loves NFT, football, movies and technology.

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