NFT Sale Proceeds to Benefit the Foundation
Ann Arbor, Mich., June 14, 2022 – Resource Recycling Systems Inc. (RRS), with the support of the Compost Research & Education Foundation (CREF), are teaming up to sell non-fungible tokens (NFTs) of the 2022 winning poster from the USCC COMPOST2022 conference.
The NFT sale will go live on June 20, 2022 on OpenSea. The accepted currency is Ethereum. Proceeds from the sale will benefit the Compost Research and Education Foundation, supporting research, development, and ongoing, best practice education of sustainable organics recycling.
An NFT transforms a digital file, such as digital art or a collectable item, into a digital asset, which can then be purchased, usually with cryptocurrency. They are also recorded on the blockchain providing authenticity of ownership.
Up to 20 copies of the poster Recipe for Regeneration: Compost will be minted and uniquely published with a digital certificate on the OpenSea NFT marketplace. NFTs will not be minted until a purchase is confirmed to reduce the energy usage of minting more NFTs than necessary. In addition, greenhouse gas emissions will be offset using Aerial, a platform that tracks and offsets carbon emissions.
“NFTs are a newer medium that provide collectors with a digital form of art, music, videos, etc.,” said Frank Franciosi, Executive Director of the Compost Research & Education Foundation. “We are excited to partner with RRS to test this new avenue and place a spotlight on composting and the artwork created during the conference poster contests.”
JD Lindeberg, President of RRS added, “Our goal is to learn from the NFT creation process and evaluate how we can use NFTs and the blockchain to enhance opportunities for recovery of waste materials throughout the economy.”
The NFTs are a part of the Soiled Green NFT collections, with the 2021 and 2020 winning posters being released for sale at a later date. In addition to the initial proceeds from the sales of the 2022 poster NFTs, a resale commission from future sales of the NFTs will be directed to the Compost Research and Education Foundation.
About RRS Founded in 1986 and headquartered in Ann Arbor, Michigan, RRS is a sustainability and recycling consulting firm that strives to create a world where resources are managed to maximize economic and social benefit while minimizing environmental harm. The firm has industry professionals, engineers, economists, technical analysts, and communication specialists who share this vision and possess core strengths in materials and recovery, life cycle management, applied sustainable design, and collaborative action development. www.recycle.com (http://www.recycle.com/)
About Compost Research & Education Foundation
Compost Research & Education Foundation (CREF) was incorporated in 1992 in Virginia as a nonprofit 501 (c)(3). CREF is affiliated with the United States Composting Council (USCC) through a memorandum of understanding agreement. The CREF is its own entity and financials and funding are separate. CREF supports initiatives that enhance the stature and practices of the composting industry by supporting scientific research, increasing awareness, and educating practitioners and the public to advance environmentally and economically sustainable organics recycling. https://compostfoundation.org/