REX NFT: Disrupting The $6 Billion Renewable Energy Credit (REC) Industry

By thefreethinkeer | StartUpInsider | 16 May 2022

Power and energy are a critical sector of the global economy that play a key role in driving technology and innovation in virtually every field ranging from health, education, finance, communication to transportation and agriculture among several others. Its no doubt that given to negative global impact of energy sourced from petroleum and fossil fuels, the world has been forced to begin transitioning to renewable energy sources which are greener and environmentally friendly. With the future of the global non-green/non-renewable energy looking not so bright, energy investors are beginning to look elsewhere, particularly the renewable energy way.

Renewable Energy Credit/Certificate (REC) is the new way of representing shares or investments in renewable energy. RECs are a technique that facilitates direct investment in the development of renewable energy generation that will be used in an electric grid, thus buying or owning a REC does not signify buying of electricity, paying of electricity bill or investment in renewable energy startup. One REC is minted for every 1000 Killowatt-hours of electricity that is generated and sent to the energy grid. In this article, i talked about REX NFTs, a beautiful piece of arts that functions as renewable energy credits.

Introducing REX NFT

REX NFT is a collection of 1000 NFTs that aside being a collection of beautiful arts, the pieces function as renewable energy credits with each representing 1000 kWh of renewable energy. Thus buying or owning any of the REX NFT simply translate into direct investment that fund the generation of green, clean and renewable energy that is added to their grid. The group of minds behind the development of REX NFTs idea are pushing to disrupt the six billion dollar valued industry for renewable energy credits.

Primarily, RECs are generally known to be purchased and owned by cooperation in order to offset their carbon footprints. REX NFT is relying on the power of blockchain and decentralized finance to remove any form of barriers to ownership of renewable energy credits through the creation of a consumer based market for RECs and tokenizing them as NFTs. REX NFT is helping the global populace in their efforts towards offsetting carbon footprints/emissions.

REX NFTs & Their Utilities

Every purchase of REX NFT comes with a product content label (PCL) which is verifiable through TerraPass, a top renewable energy credit (REC) supplier. The group of minds behind the development of this great solution have partnership with an environmental non-profit organization that will plant a tree on every instance of REX NFT sales. Asides NFTs, REX also have an online club and metaverse for all holders, allowing them to earn passive weekly income in the platform's utility token, REX Coins for their NFT holdings.

REX NFT has one of the greatest proposition in renewable energy credit tokenization, which is integrity, a certificate that is issued by smart contracts and linked to RECs. REX idea will go quite a long way in eliminating issues associated with double spendings of renewable energy credits, just as Bitcoin have solved the problem of double spendings in digital currencies. The success recorded by REX NFT towards the tokenization of renewable energy credits (RECs) is a huge signal of a new era in RECs certifications.

Renewable energy credits (RECs) are known to often be a one-off contracts that are issued by green energy generators and sold to fossil fuel generators and multinationals that are struggling to improve their reduction in carbon footprints, this is know to usually involves complex compliances and procedures. With the unveiling of REX NFTs consumer market, every one including individuals can own renewable energy credits starting from as low as $250 and contribute their quota to the global reduction in carbon emissions/footprints).

Why Consider Owning REX NFT For Oneself

As a holder of any of the REX NFTs collection, you stand to benefit from quite a number of perks that includes but not limited to;

Access to REX exclusive online club for her NFT holders. Although this club is still in dvelopment, it would luckily be going live before the end of this very month.
REX NFT holders stand to receive a weekly airdrop of 2500 units in the platform's utility token, REX Coin. This is a safe passive income generation avenue.

Holders have the liberty of selling their NFTs underlying assets, renewable energy credits for profits to those that want to offset their carbon footprints or traders and investors that want to flip for profits.
The uniqueness of REX NFTs will attract global audience from among investors and enthusiasts, thus the value of these NFTs are expected to do very well in the long run.
With REX release of it first 1000 NFTs series, the team have partnered with an green not-for-profit organization to plant a tree for every purchase from the collection. This is quite impressive!

Every holder of REX NFT is an investor whose every holding represents 1000 KWh of renewable energy that is generated and added to REX energy grid. This is verifiable on TerraPass, a top notch global renewable energy supplier.

REX Ecosystem's Utility Token (REX Coin)

REX Coin is the primary utility token of REX NFT's project ecosystem, the token is minted in Polygon blockchain in order to serve as a fuel that powers all economic activities within the project ecosystem. The token will serve a number of utilization cases which includes but not limited to; staking, trading and rewards for NFT holders steadily on every weekly basis.

Project Development Roadmap

In Conclusion

Renewable energy credits are been generated and sold since quite a while now, but this has not been any popular due to the fact that the credits are mostly generated by green companies and supplied to huge multinational enterprises, hence hindering so many average people from being a part of the renewable energy credit economy. REX NFT is a blockchain solution that is decentralizing this economy by tokenizing and making it seamlessly accessible to everyone from all part of the worls, it could be quite rewarding to consider looking closer into the solution of this group of minds. Do follow the official links i made available below for much more into REX NFTs, thanks.