Energy Trading Platform SunContract Introduces the First NFT-Backed Solar Panels Market


Super Mod
Super Mod
Crypto News Squad
Dec 23, 2020

Energy Trading Platform SunContract Introduces the First NFT-Backed Solar Panels Market

Slovenian energy trading platform SunContract has launched the first NFT market for solar panels, allowing direct earnings or energy consumption from tokenized solar farms.

The project leverages blockchain to democratize access to renewable energy, allowing owners to easily manage their energy assets.

According to a shared press release CryptoPotatoThe organization launched the world’s first non-fungible token market for real-world solar panels. Users will be able to directly benefit from these panels by earning money or for personal consumption at home or at work.

SunContract made the announcement at the Crypto Expo Europe conference in Bucharest, Romania, showing how blockchain technology can be used to power the clean energy sector. SunContract’s first tokenized solar farm is located in the village of Višnje, Slovenia, at a facility with a maximum power of 517 kW.

NFTs represent a select panel on the farm. The initiative is supported by people committed to the green future of the planet and willing to support the development of the field of renewable energy.

The organization explained that the first step of the initiative involves generating energy from the solar panel, which will then be sold on behalf of users in exchange for SNC tokens. These assets will be automatically transferred to their wallet after deducting operating and maintenance fees.

NFT holders will be allowed to use energy in countries where SunContract has permits or licenses, such as Slovenia, Estonia, Croatia and more. This step aims to democratize renewable energy and make it accessible to everyone.

Such NFTs can be bought and sold at any time on the above-mentioned marketplace. Additionally, owners will be able to manage the energy produced by the “Personal Power Plant” from their smartphones.

Speaking on the subject, Gregor Novak, co-founder and CIO of SunContract, said:

“The addition of the NFT marketplace will further this reach and make our services accessible globally. Blockchain’s role in our platform is not just a technological foundation; “This is a gateway to expanding our community and improving user experience on a global scale,” he added.
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