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HomePress ReleaseEIN PresswireREX NFT Launches Renewable Energy Credit NFT Collection

REX NFT Launches Renewable Energy Credit NFT Collection


Each REX NFT is a renewable energy credit and represents 1,000 kWh of renewable energy. You are directly funding the generation of renewable energy.

WASHINGTON, D.C., UNITED STATES, April 10, 2022 /EINPresswire.com/ — A new NFT collection is launching, and it is no ordinary NFT. REX NFT has created the first Renewable Energy Credit NFT. REX, as in R-E-X, stands for Renewable Energy Credit NFTs. Each NFT is unique and is more than just art on the blockchain. Each REX NFT represents one thousand Kilowatt hours (kWh) of renewable energy.

When you buy a REX NFT, you are directly funding renewable energy to be used in our electric grid, which will help us all use less fossil fuels and leave less of a carbon footprint. REX NFT has partnered with Renewable Energy Credit suppliers including terrapass and energysage to make this happen.

REX NFT is the first and only ones to tokenize Renewable Energy Credits, disrupting the six-billion-dollar Renewable Energy Credit industry. REX NFT will launch on the Polygon network and be sold on the opensea NFT marketplace. To view and buy a REX NFT, go to rexcreditnft.io and click “Buy REX NFT” in the upper right.

After bought, REX NFTs can be held, and since it is a tradable commodity, it may increase in value as NFTs tend to do. Buyers can take pride in the fact that they helped generate renewable energy to help our environment. Each NFT is a genuine renewable energy credit and comes with a PCL (product content label) that can be used to verify its authenticity as a renewable energy credit.

The REX NFT team is also launching a token on Polygon, REXCoin, that will be used in the REX NFT ecosystem. It will be airdropped to all REX NFT holders on a weekly basis. 2,500 REXCoins per REX NFT owned will be sent to all holders each week. All the more reason to buy a REX NFT.

Renewable Entergy Certificates (RECs), have up until now, been one-off contracts issued by green generators and sold to multinationals and fossil generators who want to improve their green credentials. This is done on a compliance or voluntary basis, but it requires many complex contracts and processes.

With our REX NFT, RECs are being tokenized, and that signals the start of a new era of certification. In commercial terms, tokenizing is perfect for RECs because it not only simplifies the process but also prevents the current possibility of double counting or even fraud.

Furthermore, it spawns a more vibrant and creative marketplace around RECs. The kind of environment that could see sophisticated trading and management of green energy, in a secondary market, we might see the ability to connect with smart contracts and improved market depth and transparency. All of this helps the REC market avoid dysfunctions. The biggest value proposition for tokenizing REC is integrity. Certificates are minted and once sold by the generator, cannot be sold again, or used twice.

JPEG art may have revealed the gimmick side of NFTs, but REX NFTs benefit to the planet is very real. REX NFTs are opening up a consumer market for RECs and lowering the barriers to entry. 1,000 unique NFTs will be issued in the first series and individuals can get involved for as little as $250. Bitcoin solved the double spending problem for digital money. REX NFT solves the double counting problem for the renewable energy industry.

To learn more please go to https://rexcreditnft.io

Contact: avi@rexcreditnft.io

avi verdugo
REX NFT
avi@rexcreditnft.io
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