In line with Saudi Arabia’s Green initiative, Saudi artist Abdullah Qandeel has come up with a unique plan to fight climate change.
Qandeel announced a partnership with Mangrove Conservation & Restoration, a subsidiary of Supreme Global Holdings that works closely with Worldview International Foundation, a mangrove plantation and Blue Carbon expert organisation, to accelerate the sustainable restoration and planting of mangroves.
Qandeel has broken records as a Saudi artist at Sotheby’s, Christie’s and Phillips, and now, is the the first Arab and Saudi entering the NFT space combining fintech and art to mint Artist Approved Physical and Digital Non-fungible Tokens (NFTs).
The first NFT The King of Offset is named after its main objective to offset carbon emissions. The sale will be divided into 50,000 crypto tokens and offered for sale on Chilliswap.org for $1,000 per NFT Token. Collectors will enjoy exclusive benefits of increasing value with multiple token purchases.
Net proceeds from the sale will be donated to Mangrove Conservation & Restoration to mitigate harmful carbon emissions released annually from degraded Blue Carbon ecosystems through mangrove planting projects in Sri Lanka, Thailand, Myanmar, Vietnam, Indonesia and extending to other countries.
Qandeel said: “As a Saudi creator, I am proud to follow through on the commitment of my nation to reverse environmental degradation and climate change and extend it internationally. Working with Mangrove Conservation & Restoration to offset carbon emissions was born from my deep respect for nature and desire to shift consciousness.
“The high-impact deployment of capital generated through the sale of The King of Offset is just the beginning. While heralding a new standard for the tokenisation of creative energy, it will give up to 50,000 people worldwide the opportunity to offset their carbon emissions while enjoying my new artwork.”
RM Manivannan, Chairman of Supreme Global Holdings, added: “It is an absolute pleasure to witness the historic efforts of Mr Qandeel and we are so proud to be an integral part of that noble mission.
“Although we think of the Amazon rainforest as the ‘lungs’ of our planet, that title should really be with mangroves. No other ecosystem is able to store as much carbon. Mangroves are the key to preventing climate change.”
Artist Approved Physical and Digital Non-Fungible Tokens are a new class of NFTs that will redefine the art and NFT landscape. AP-NFTs (physical) marry for the first time with digital assets (AD-NFTs ).
Conceived by Qandeel and Alex Alexandrov, founder of velas.com and coinpayments.net, the world’s first and largest alternative coin payment processor, the AP/AD-NFTs will be inclusive to all forms of creators, and extend their reach beyond the limits of digital-based creations. They are designed to protect creators’ rights and enable them to truly commercialise their art with innovative and enhanced ‘smart contracts’ that contain the artwork’s IP and rights of usage.
The AP/AD-NFTs will be featured on MPWR.com, a new creative platform formed to empower emerging creators, enabling them to tokenise their creative energy and commercialise their art wholly (IP) using efficient and highly transparent blockchain technology.
“I believe MPWR will revolutionise the financial exchange for art creation between artists and buyers. It will remove middlemen and bring clarity to all forms of art being traded, copyrighted and distributed to end-users,” said Alexandrov.
