Gaming has already been declared the entertainment industry's most lucrative medium. With the emergence of the play-to-earn (P2E) economy, the metaverse's advent has created even more opportunities for exponential growth within the sector.
By leveraging blockchain technology, play-to-earn technology allows players to create or buy in-game assets linked to non-fungible tokens (NFTs). By simply playing, in-game resources are tokenized and can be sold to anyone on a peer-to-peer market. Some of these assets can be sold for up to 300 Ethereum (the equivalent of US $600,000).
Play-to-earn has taken the world by storm, and the blockchain space is evolving rapidly. One concept still in its infancy and poised to disrupt the traditional investing world is "preserve-to-earn." Preserve-to-earn platforms are all about climate-conscious approaches to investing. Instead of mining a physical resource such as gold, Nature's Vault purchases mining rights with the intention to never mine and therefore prevent the environmental damage that occurs when minerals are excavated. While their first project focuses specifically on the avoided mining of gold, the process can be applied to a variety of minerals.
The Preserve to Earn Industry
Those who invest in these preserve-to-earn platforms contribute to the planet by simply holding their tokens. It's all about protecting the earth by preserving real-life assets. Preserve-to-earn platforms are also generally opposed to high-energy digital mining technology like the ones used by Bitcoin or other Proof of Work cryptos, preferring instead to use more energy-efficient technology (Proof of Stake).
Nature's Vault joined the preserve-to-earn movement and is currently pioneering a more sustainable approach to gold mining through the creation of its PoS-based token and its token system, which is aimed to preserve the value of in-ground mineral assets.
Nature's Vault purchases the rights to unmined assets, such as gold, and develops a system that issues digital tokens that represent the preservation of these resources. Since half of the world's gold is kept in vaults and never used, the company's ownership of these assets allows them to preserve it to avoid the carbon emissions and environmental damage that would result from real-life miners unearthing its supply.
How it works
Nature's Vault has set aside 75,000,000 $LEGACY tokens for its preserve-to-earn Prospector Staking Program, which will include three different staking pools with varying rewards based on lock-up terms. Each pool will be capped at 33.3% of the total circulating supply and retired when the supply for each pool has been distributed. Ultimately, their vision is to return a share of any carbon offsets generated from avoided mining to the $LEGACY Token holders through staking reward programs and airdrops.
Nature's Vault is also seeking approval from relevant carbon registries to develop their new protocol. This protocol allows for the creation of carbon offsets from avoided greenhouse gas emissions associated with the development and operation of a gold mine and the transportation and processing of ore. This protocol is expected to also capture the significant environmental benefits of avoided mining beyond reduced carbon emissions such as biodiversity, clean water, and community benefits.
The first mining rights that Nature's Vault acquired covers gold deposits across over 400 acres of forests and lakes in Ontario, Canada. This deposit is called "Pistol Lake" and holds an estimated 150,000 troy ounces of gold. The patented mining rights to this deposit have no expiry date, and thus, the environment is protected from mining indefinitely. The gold deposits have been quantified independently prior to the acquisition, based on the same rigorous standards developed and trusted by large and small investors in evaluating public mining companies
Cryptocurrency is still a nascent concept, and the sector is sure to experience growing pains as it continues to rapidly expand onto the mainstream. As the planet becomes more aware of the negative environmental impact that gold and asset mining can take on the planet, more and more users are turning towards more environmentally-friendly methods of digital mining.
By investing in $LEGACY, holders will have the opportunity to contribute to sparing the planet of the negative impacts of gold mining and instead preserve gold deposits in the ground.
