Steve Wozniak’s blockchain company has announced the public sale of its past non-fungible tokens.
EFFORCE, the blockchain company co-founded by Apple co-founder Steve Wozniak, has announced the public sale of its first batch of Energy Efficiency NFTs.
In a press release shared with TBEN, EFFORCE said the NFTs would help the company usher in a new era for energy efficiency projects with the help of the crypto community.
The company said its vision is based on the introduction of a new breed of utility NFTs, based on the new ‘Proof of Contribution’ concept.
The team added that the Genesis NFTs are part of the Energy Efficiency NFT effort and are a tool used to make improvements needed to make companies more energy efficient.
The company will launch sales of 2,500 Genesis NFTs per project. EFFORCE revealed that the first project is a 180 kWe combined cooling, heating and power plant.
Each NFT would be sold for 210 USDC and users would have to lock in 400 WOZX for each coin. In addition, the project has expected a yield of 735,000 mWOZ
The second project is an EEP (Energy Efficiency Project) for an undisclosed company that will provide 60% of its electricity needed for a sewage treatment plant. The NFT price for this venture is 190 USDC and requires locking in 380 WOZX tokens per coin.
While commenting on this latest development, EFFORCE co-founder and former Apple engineer Steve Wozniak said:
“EFFORCE is focused and working hard to achieve the goals and vision established at its inception. As of today, anyone can collaborate with the community and directly support energy efficiency projects. Improving energy efficiency equipment, their structures, drastically reducing energy consumption and impact on the global environment. Most importantly, thanks to the blockchain, everything will be done through a fully decentralized and transparent system.
EFFORCE Managing Director Paolo Pastore added;
“By using NFTs as proof of contribution to energy efficiency projects, we can create a new market and keep those contributions liquid as long as there is demand for them. This was previously not possible: deposited funds would have been blocked for the entire project duration with no chance of getting them back before the end. By selling an NFT, contributors can now easily exit their position”
EFFORCE said the NFTs it has issued draw elements from co-founder Steve Wozniak’s inspiration. The artwork will be unveiled after the actual implementation of the project, coinciding with the NFT strike contract going live on the network.
After the NFT sale, a strike contract goes live on the blockchain. That contract provides mWOZ tokens (mWOZ stands for 1 USDC of energy saved) equal to the rewards generated by energy savings per month.
EFFORCE said there is a minimum APR of 8% for a maximum of 40% after five years. Unsold NFTs are taken off the market and burned, the team concluded.