According to CoinDesk, $174 million has been spent on NFTs since late November 2017.
Of late, NFTs are becoming popular among art collectors who are splurging millions of dollars on digital drawings, music, and videos.Īn NFT is a digital asset that represents real-world objects like art, music, in-game items, videos and sometimes even memes.Īlso read | Football: Lionel Messi launches 'Messiverse' NFT crypto art collectionĪn NFT’s authenticity is certified by blockchain technology and can be bought and sold online. If you don’t want to get poached, you have to spend a ton in terms of manpower and security infrastructure. and this a way to help us fund that.” So, it’s a really important conservation project," conservationist Derek Lewitton told AFP.Īlso read | Whiskey brand fetches $270,000 for extremely rare NFTs 'If worst-case scenario, if rhinos go into complete disarray then I would still own a rhino horn, because the NFT is a. “We are doubling our population every four years. The virtual horn was sold to a local businessman for just under 7,000.00. The animals are slaughtered for their horns, which are smuggled into Asia where they are highly prized for traditional and medicinal purposes.Proceeds from the sale will go to the private Black Rock Rhino conservancy, home to 200 rhinos that are able to breed while protected from poachers. Mozambican police shot a Malawian man in possession of two rhinoceros horns when he tried to flee with five other people in the northern province of Niassa, a source told Lusa on Monday. Poachers killed at least 249 rhinos in South Africa during the first six months of the year - 83 more than in the first half of 2020. (b) It shall be presumptive evidence of possession with. It's legal to trade in real rhino horns within South Africa, but in this case, the original horn is locked away for safekeeping. Prohibitions, Penalties and Exceptions: (a) It shall be unlawful for any person to import, sell, offer for sale, purchase, barter or possess with intent to sell, any ivory, ivory product, rhinoceros horn, or rhinoceros horn product, except as provided pursuant to this section. The NFT technology also allows a beneficiary to receive commissions from future sales, so if Jacobs sells his NFT in the future, Black Rock Rhino would receive a portion of that sale.
Non-fungible tokens (NFTs) have made a huge splash among art collectors who have spent millions of dollars on digital drawings, music, and videos.Īn NFT's authenticity is certified by block-chain technology, which is considered immutable, making the digital objects something that can be bought and sold. If you don't want to get poached, you have to spend a ton in terms of manpower and security infrastructure. So it's a really important conservation project," said conservationist Derek Lewitton. "We are doubling our population every four years. Proceeds from the sale go to the private Black Rock Rhino conservancy, home to 200 rhinos that are able to breed while protected from poachers. "If worst-case scenario, if rhinos go into complete disarray then I would still own a rhino horn, because the NFT is a token of the physical rhino horn," he told AFP. A digital replica of a rhino horn sold at an auction in South Africa late Thursday, as conservationists tapped into the craze for NFTs to raise money to protect real rhinos.Ĭape Town businessman Charl Jacobs paid 105,000 rand (6,850 dollars, 6,000 euros) for the digital horn, which he said he plans to place into a trust for his children.