Author(s): Sumit Kumar
The market for non-fungible tokens (NFTs) has exploded in recent years. The majority of the NFTs currently in the market are either related to art collectibles or gaming, but the role of NFTs can be extended to various aspects of life. One such application is Carbon Collectibles Non-Fungible tokens (CCNFTs). In the present paper, we examined the development of the NFT market in general and CCNFTs. We reviewed the possibility of CCNFT as an instrument to manage the carbon footprint. We concluded that the growth of NFT might be strategically used to mitigate carbon footprint by offering economic benefits to the landowner with forest land. This is the basic premise on which CCNFTs are designed. This provided the conceptual framework for Carbon Collectible Non-Fungible Tokens (CCNFTs). We also found that CCNFTs follow a trading standard in structure and pricing. Therefore there is enormous potential to trade it in a Blockchain marketplace for value creation and ESG factor integration into the investment portfolio.