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The world is getting warmer everyday while several organizations are working to subdue the potential haphazards from global warming. MOOKY, a memecoin project, is bringing people together to fight environmental issues like climate change through the power of communities. The project holds this vision to reduce carbon emissions by staying tax free on the blockchain.
A Green Initiative
Recently, BBC reported that Vietnam recorded the highest ever temperature of 44.1C while Thailand recorded 44.6C. People do not realize but their seemingly little acts, including but not limited to smoking, using traditional vehicles to cover minor distances and more can drastically affect the environment. Deforestation adds more fuel to this fire.
Think of it like this, on one hand activities that produce greenhouse gasses are increasing, on the other, trees that can offset the environmental damage are being reduced. The MOOKY team will add over 10,000 plants to aid the climate. However, this is among their initial goals and as their community will grow, it will potentially increase the drive to save the environment.
Along with its native token, MOOK, it offers a collection of 1,000 unique non-fungible tokens. There will be five different tiers of the NFT collection ranging from common to legendary. Owners of the super-rare or legendary tokens will get access to Mooky Ventures Club and other exclusive perks.
Though blockchain is considered harmful for the environment, this project shows how the team can use the very technology that is considered carbon positive, to aid the environment. A white house report says that crypto mining is responsible for emitting 140 Million metric tons of carbon-di-oxide annually.
Cryptocurrencies using proof-of-work (PoW)
Usually, cryptocurrencies using proof-of-work (PoW) algorithm are considered unhealthy for the environment. Ethereum, the second-largest virtual currency by market capitalization, migrated to its proof-of-stake (PoS) based Beacon Chain. It claimed to have reduced carbon emissions from the operations by over 99%.
Given that blockchain is the underlying technology driving an NFT, MOOKY should be considered carbon positive. But the entire project is focused on reviving the environment, they are actually aiding the climate. No other crypto project is entirely focused to nurture mother earth as a whole.
Moreover, the entire MOOKY project is governed via a Decentralized Autonomous Organization (DAO). Holders of the project’s conventional crypto asset determine how the operations should be, making it a community first initiative. There will be a total of 500 Billion MOOK tokens in circulation.
The memecoin mania has not ended yet with many meme-related tokens entering the market. Recently, Pepe (PEPE), a memecoin project based on Pepe the Frog, has caught a lot of attention in the market. Currently, the cryptocurrency sits at number 59 with a market capitalization of over $700 Million according to the CoinMarketCap data.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
