Exploring energy efficiency through NFTs

SunContract, a blockchain-based energy trading platform, is pioneering the world’s first nft marketplace for real-world solar panels.

The crypto space has always been under fire for its energy consumption and irresponsible usage. Due to this, several major blockchains such as ethereum have moved away from energy-intensive verification modes to more eco-friendly options over the years, making cryptocurrencies and blockchain more appealing to the energy-conscious public.

Among the projects that are making an effort for the environment is SunContract. nft+marketplace” target=”_blank” rel=””>Solar contract is an energy trading platform operating at the intersection of blockchain and renewable technology. After publishing its first whitepaper in 2017, the startup conducted a successful ICO and launched the world’s first nationwide P2P energy trading marketplace.

Having consolidated its position in Slovenia, SunContract has acquired electricity licenses in Croatia and Estonia to expand its reach, pursuing its goal of becoming a global energy marketplace. SunContract is also developing disruptive new services, the latest of which is the “personal power plant” (PPP), the world’s first power plant. nft.suncontract.org/?utm_source=Cryptonews&utm_medium=PR&utm_campaign=nft+marketplace” target=”_blank” rel=””>nft Market for real-world solar panels.

The inauguration of the project solar farmThe tokenised facility is located in the village of Višnje, near Ajdovščina (Slovenia). Built in 2011 and generating electricity continuously since then, the facility has a maximum output of 517 kW and consists of 2,112 solar panels.

General description

Company: nft+marketplace” target=”_blank” rel=””>Solar contract

Token Symbol: nft+marketplace” target=”_blank” rel=””>SNC Token

Blockchain: ethereum

Sector: Renewable energy

Business model: Tokenizing solar panels into nfts

SunContract nft Marketplace

In it nft.suncontract.org/?utm_source=Cryptonews&utm_medium=PR&utm_campaign=nft+marketplace” target=”_blank” rel=””>SunContract nft MarketplaceEach nft represents a specific solar panel from the solar park, and the holder of the nft is entitled to the benefits of the particular underlying solar panel.

Owning an nft token enables the creation of a “personal power plant,” a unique concept introduced by SunContract. This allows individuals to reap the benefits of a specific solar panel, thus addressing the challenges faced by those who are committed to the ecological transition and wish to invest in the cleanest energy sources.

Benefits

• This nft purchasing service will allow the holder of an nft to own their renewable energy source, which is harnessed in the cleanest way possible: the sun.
• By purchasing nfts, anyone can own a digital asset representing a real solar panel that produces electricity. The owner can receive income in SNC tokens for the energy produced, resell nfts, or use the energy at home or in business (this functionality has not yet been introduced in countries where SunContract holds energy permits or licenses, starting with Slovenia, Croatia, and Estonia, with more to come). Here’s how owners can enjoy the benefits of this ownership.
• He nft.suncontract.org/?utm_source=Cryptonews&utm_medium=PR&utm_campaign=nft+marketplace” target=”_blank” rel=””>SunContract nft Marketplace makes the investment in solar panels liquid and tradable.
• This new blockchain-based energy service simplifies the process and offers opportunities for communities to participate more deeply in the transition to green energy.
• nft holders can monitor the energy of their “personal power plant” simply by using their smartphone.
• Users who will directly use the generated energy do not need to have a physical solar plant on their own roof. In this way, solar energy is also available for use by those who do not have their own roof.
• The nft owner does not need to worry about the maintenance and insurance costs of the solar panels associated with their nft.
• The proceeds from the sale of nfts will be used to create other farms and tokenize them. This way, more renewable energy is supplied and used instead of fossil fuels.
• This is one of the first connections of an nft token to real assets using blockchain technology, and is the first of its kind in the energy sector globally.

How it works and what is the role of SNC tokens

Each nft in the SunContract project is tied to a solar panel that actively generates clean, renewable energy every day. With their collection of nfts, users can create their own “personal power plant.” All underlying solar panels are maintained and insured to ensure optimal performance, and the project manages any necessary replacements.

The energy produced by the underlying solar panels is sold on SunContract's P2P energy marketplace.

The company's revenue from the energy sold is deposited directly into users' wallets in the form of SNC tokens, after a 20% deduction for the costs of insurance and maintenance of solar panels. Settlements are processed daily with a seven-day delay.

These nft+marketplace” target=”_blank” rel=””>SNC Chips Provide users with multiple options. Users can use these tokens to buy more nfts or pay their electricity bills (in countries where this is possible). Users also have the option to withdraw SNC tokens and cash them out or hold them for future profits. Users can sell some or even all of their nfts if they need liquidity.

Project phases

Phase 1: The energy generated from the underlying solar panel will be sold on your behalf via the SunContracts P2P energy marketplace in exchange for SNC tokens. After deducting fees related to operations and maintenance, these SNC tokens will be deposited into your wallet on the SunContract platform.

Phase 2: This stage of the project will involve enabling nft holders in countries where SunContract has acquired energy permits or licenses (for now Slovenia, Croatia, and Estonia) to directly use the energy produced by their nft-linked solar panels for personal consumption at home or in their businesses. This approach aims to democratize renewable energy and make it accessible to everyone, including those living in apartments. It also makes it an easy and liquid initiative, as these nfts can be bought and sold at any time on the platform.

Collections

nft.suncontract.org/collect?utm_source=Cryptonews&utm_medium=PR&utm_campaign=nft+marketplace” target=”_blank” rel=””>Three collections have been released so far, with the first and largest being SunGenesis. SunGenesis, SunContract’s inaugural nft collection, showcases real-world solar panels from Slovenia’s Visnje village, generating 517kW of renewable energy.

The second and third collections are SunVista—Eclipse and SunVista—Actum. Both sold out within days. The last mini collection, SunVista—Primoridum, is coming soon.

Each nft across all collections features an image depicting heroes and different universes from an exciting story that will be revealed in future Solar Panels nft collections. This marks the world’s first tokenization of a story in nfts. Each nft offers real-world solar panel benefits and grants ownership of part of the story. The twist is that the full story will remain top secret, requiring the community to embark on an adventure to uncover its secrets.

New collections will also be introduced, further expanding opportunities for people to participate in sustainable energy initiatives.

Interested users can request exclusive nft alerts at nft.suncontract.org/?utm_source=Cryptonews&utm_medium=PR&utm_campaign=nft+marketplace” target=”_blank” rel=””>nft Website.

Key milestones and achievements

In 2017, SunContract published the first whitepaper on a peer-to-peer energy marketplace, followed by a successful initial coin offering.

In 2018, the company launched the first nationwide peer-to-peer energy retail marketplace.

In 2019, SunContract expanded into Estonia and acquired a license to operate as a cryptocurrency wallet custodian.

By 2021, they have updated the platform to support energy self-sufficient villages.

The company recently expanded its services to Croatia, laid down bases in Estonia and established an office in Malta.

In 2024, the nft Marketplace was launched with the first tokenized solar farm.

Plans

nft+marketplace” target=”_blank” rel=””>Solar contract SunContract is actively expanding into new markets, establishing companies and starting operations in other countries. The project is exploring the integration of nft technologies and researching potential markets. Plans include expanding the reach in Europe and other international regions, aiming to establish SunContract as a “unicorn” in the industry.

Users interested in SunContract’s solution to democratize access to renewable energy can visit their website and social media for more information.