veritree and Cardano Foundation Complete Global Impact Challenge as “Cardano Forest” Reaches Funding Target for Planting 1 Million Trees

veritree, the restoration platform that connects mission-driven businesses with nature-based solutions, announced that it has reached 100% funding for ‘Cardano Forest’, a first-of-its-kind crowdfunding program which is committed to planting, tracking and verifying over one million trees with the Cardano Foundation, the non-profit organization and custodian of the Cardano blockchain.

Cardano Forest is a blockchain-enabled reforestation project that capitalizes on the growing interest in blockchain and the Cardano user community. Participants trade ada, Cardano’s native token, for “NFTrees” – non-fungible tokens that represent trees to be planted – and earn digital certificates, NFT art provided by digital artists Egon (stellarhood.com) and Damián (cardanotrees.com), and other incentives based on their contributions.

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Over 4,600 users have signed up for the program, donating over 1 million ada to date, which will enable the reintroduction of native tree species to Kenya. Planting will begin in early 2022, in coordination with experienced restoration partners already participating in the veritree platform.

As a nature-based technology platform, veritree offers unprecedented insight into the state of the forest. The platform integrates real-time site monitoring and data collection with blockchain-based accounting and verification to generate the most actionable and reliable tools to assess and communicate the impact of reforestation. During the first quarter of 2022, Cardano Forest donors will be able to exchange their veritree tokens for an NFT planting certificate and NFT artwork, corresponding to their living trees once they have been planted, and monitor the Cardano website Forest for project updates.

Each veritree project is carefully planned to maximize environmental conservation, human well-being and climate action. veritree also complements each project with a technology suite that best assesses and communicates impact. The Cardano Forest project sits atop the Cardano blockchain, which it uses to improve traceability and verification, providing a range of benefits in the crowdfunding campaign.

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“We are proud to see such enthusiasm across the Cardano network for this project, which shows how blockchain can be harnessed for good,” said veritree CEO Derrick Emsley. “The Cardano Forest brings together Cardano, its foundation, and its user community to collectively achieve and verify real, positive change.”

Frederik Gregaard, CEO of the Cardano Foundation, said: “At the Cardano Foundation, we are delighted with the success of the Cardano forest. This is an amazing example to show how SDG reporting can be transparent with blockchain technology and most importantly show the power of the Cardano community.

veritree partners with global organizations that seek to establish transparency and accountability for ecological, social and climate-positive restoration. Earlier this month, veritree announced a partnership with Samsung Electronics America to plant and monitor two million mangrove trees on the coast of Madagascar in 2022, bringing the organization closer to its goal of planting and verifying one billion trees in 2030.

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