A Leading African Conservancy will raise funds for rhinos through the auction of horn NFTs.

Black Rock Rhino, a top endangered animals conservancy in South Africa, plans to raise funds for the threatened species through the auction of non-fungible rhino horn tokens.

The African nature reserve, which is home to over 200 rhinos, is teaming up with blockchain technology firm Virtual Nation Builders to auction off the non-fungible tokens at Momint, one of South Africa’s largest NFT marketplaces. The proceeds from the November 11 auction, according to a statement released by Black Rock Rhino, will be used to cover some of the sanctuary’s day-to-day expenses.

“The net proceeds will go towards securing the area, feeding, vaccines as well as the other day to day operating expenditure of the conservancies,” explained the statement.

The money from the sale are expected to aid conservation efforts in their ongoing efforts to reduce the number of causalities, in addition to funding the conservancy’s monthly bills. According to Black Rock Rhino, the rhino population in government-run nature reserves has declined from 18,000 to 2,000 in the last decade.

Although poachers are primarily to blame for the sharp decline in the animal’s population, some experts believe that killing each other is also a major cause of the animal’s death. As a result, experts advocate for the removal of the sharp end of the horns in order to reduce fatal accidents when conflict occurs.

However, because the trade of horn, which is worth around $25,000, is prohibited, conservationists at the conservancy believe the digital and photo-realistic horn NFTs will bring in more money from the auction.

In other words, animal enthusiasts all over the world will be able to obtain a horn without actually breaking the rhino trade ban imposed by the Convention on International Trade in Endangered Species (CITES) in 1977.

Patrick

Coincu News