NaturesGold (NGOLD) – purpose and features. Here are the features of the token and its ecosystem, and direct access to its website.
NaturesGold (NGOLD), its main objective is to bring gold mining into the digital age.
If you follow crypto news, you’ll find this project rather unique.
NaturesGold – project introduction:
Gold mining is one of the most environmentally destructive industries, with devastating impacts on ecosystems and contributing significantly to carbon emissions. According to the World Gold Council, gold mining produces an estimated 32,000 kilotons of carbon dioxide equivalent emissions per year, or roughly the equivalent of burning 36 million gallons of gasoline. Additionally, gold mining can cause deforestation, soil erosion, and water pollution, which have significant impacts on local communities and ecosystems. These negative effects are compounded by the fact that almost half of the gold mined each year ends up in bank vaults and is traded on spreadsheets, with little consideration given to its environmental footprint.
Despite the significant environmental impact of gold mining, gold is still seen as an attractive investment due to its historical value and perceived stability, particularly during times of economic uncertainty. As of December 2021, the global gold-backed exchange-traded funds’ (ETFs) assets under management (AUM) amounted to around $255.1 billion and the overall value of the gold market (including ETFs, futures contracts, and physical gold holdings) was approximately $4.8 trillion.
The world is running out of time to address climate change and the staggering loss of vital ecosystems and Natural Capital. Immediate changes to the way we do business are necessary. The Intergovernmental Panel on Climate Change (IPCC) has warned that we have less than a decade to reduce our carbon emissions significantly if we are to avoid the worst impacts of climate change, such as more frequent and severe heat waves, droughts, and floods. As such, it is imperative that we rethink our approach to gold mining and other industries that contribute significantly to carbon emissions and environmental degradation.
Nature’s Vault has developed a solution that provides a bridge between the enormous demand for gold investments and the imperative need for climate and environmental friendly alternatives to the world’s current business and investment practices.
Through the innovative use of current mining technology and the productive application of blockchain technology, Nature’s Vault is proud to introduce the Pistol Lake NFT and the NaturesGold Token, an eco-friendly, low-carbon, gold linked investment that offers environmentally conscious investors an alternative to the environmental damage and carbon emissions associated with today’s current gold investment options.
The clock is ticking, and we must act fast to ensure a livable planet for future generations.
NaturesGold Token – $NGOLD
NGOLD is an ERC-20 token, built on the Polygon blockchain, with each token representing the preservation of 1/100th of a gram of in-ground gold, in deposits quantified by independent experts and controlled through mineral rights owned by Nature’s Vault and Pistol Lake NFT holders.
The total amount of NaturesGold Tokens in circulation can never exceed the amount of gold held within the mineral rights managed by Nature’s Vault.
The first mineral rights to be fractionalized will be known as Pistol Lake NFTs and will represent a fractional ownership in the Pistol Lake mineral rights located near Thunder Bay in Ontario, Canada. Pistol Lake contains 125,000 troy ounces (3,887,934 grams) of in-ground gold as quantified by its corresponding NI 43-101 report. This means that the maximum circulating supply of NaturesGold Token cannot exceed 388,793,750 tokens 3,887,935 grams (or 0.01 grams per NGold Token).
As additional mining rights with an NI 43-101 or JORC report are acquired and fractionalized, the supply of NaturesGold tokens could potentially be increased to correspond with the NI 43-101 gold held within these mining rights, subject to approval through a governance framework.