Generative Art Platform Fxhash Secures $5M in Seed Funding Round Led by 1kx
The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...
Angry Teenagers Announce First Reforestation Project In Agogo, Ghana
Over the year-long planning process, they have worked in partnership with local NGO SYND Ghana to carry out numerous ecological and environmental surveys on the 200-hectare site in Nonyam Ye, Ghana’s Ashanti province.
They have engaged more than 400 community members in discussion to understand the impact the reforestation project will have on the people who live there and how to maximize the benefits.
By: Lee Evans
30 August 2022
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The Angry Teenagers, a Regenerative Finance (ReFi) project built on the Tezos blockchain, have announced the completion of due diligence and community planning discussions for their first reforestation project.
Over the year-long planning process they have worked in partnership with local NGO SYND Ghana to carry out numerous ecological and environmental surveys on the 200 hectare site in Nonyam Ye, Ghana’s Ashanti province.
They have engaged more than 400 community members in discussion to understand the impact the reforestation project will have on the people who live there and how to maximize the benefits.
The project set up is now complete and they are moving to raise $1m to fund the project. The initial fund raising will be through an NFT mint at the start of October.
The Angry Teenagers is a pioneering Impact NFT project. The key innovation is that each NFT has control over the funds invested, visibility of the impact and compounding impact over time.
Control: all funds from the initial NFT sale go into a wallet that is controlled by the vote of NFT holders. They vote to release funds to finance milestones in the project development.
Visibility: Each NFT is geolocated to a specific square of land within the reforestation project. As the forest grows the NFT updates with photos of that square of land.
Compounding impact: as the forest grows it generates carbon credits, which are sold.
The proceeds are share between the local community development fund (45%), the project developer (10%) and the Angry Teenagers wallet (45%).
The NFT holders then vote to release that money to be invested in more reforestation.
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
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