Geospatial Non-Fungible Token
Last updated
Last updated
The Geospatial Non-fungible Token (GeoNFT) standard is an ERC-721 that includes geospatial information and an ecological index (also known as an “indicator”).
In other words, a GeoNFT is an extented version of an NFT that includes a centralized or decentralized identifier (CID/DID) pointing to a datastore of the ecological state data for its constituent territory.
In the first deployment of Kolektivo, GeoNFTs represent ecological assets — e.g. regenerative agricultural projects — or data-producing devices — e.g. weather stations.
In the future, GeoNFTs are planned to include merchants and other place-based commercial operators in order to incentivize local trade. The borders of a GeoNFT can be computationally defined — e.g. the boundary of an area of a certain level of forestation — or manually determined through the local governance of a geographic expert.
GeoNFTs aim to provide a topological frame, within which sits a faithful digital twin of some underlying physical reality, pointing to datastore(s) containing data about what is going on the ground in relation to the asset or impact that they represent.
In the case of Kolektivo Curaçao, GeoNFTs will first represent ecological assets: The ecological data related to them is of paramount importance for ongoing management of the environment. This data is used for many practical socioeconomic purposes, such as:
Ecological simulations and model development.
Verification of research results — proving the effectiveness of an ecological measure outside the limits of academia or the laboratory.
Meta-analysis — determining overall ecological trends thanks to the analysis of research results from many independent studies and datastores.
Decision-making and decision support systems — determining what agro-commodities or naturebased solutions to cultivate in some territory based on historical measurements and trajectories.
Ecological resource management — understanding available ecosystem asset stocks and macro trends in production and availability.
Education — helping embed and build relations between the community and their surrounding, lifegiving milieu. The market for ecological state data has grown significantly over the years.
