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Virtually Saving The Rhino: First Rhino Horn NFT Is Auctioned To The World

On 11 November 2021, the first ever rhino horn non-fungible token (NFT - a type of blockchain asset) will be auctioned off to the highest global bidder, in a mission to save our rhinos from extinction. “South Africa’s rhino population is plagued by the tragic brutalities of poaching. We’ve never harnessed or leveraged the use of NFTs in the conservation space, making this a historical first for our country. And by using NFTs, we are now positioning ourselves at the forefront of creating value in rhino horns without putting the rhino’s life at risk at all” shares Derek Lewitton of Black Rock Rhino Conservation. 

The winning bidder’s investment in this first ever rhino horn NFT will be ring fenced for the conservation and growth of South Africa’s rhino population. The DNA profile of the rhino horn NFT is #ZA908220119RH and has been certified under RhODIS®️ Case Number RR006499. This particular rhino horn NFT displays unique patterns of growth and colouration, having been sourced from a male rhino. It measures 33cm in circumference and 30cm in length.

“Momint is exceptionally proud to be hosting this auction for such an important cause. We hope that this rhino horn NFT will show South Africans how they can leverage and use digital assets, as our country steps into a new digital future, in line with the global Fourth Industrial Revolution. As a local South African company and platform, we want to drive value and utility using blockchain technology and NFTs.'' shares Momint CEO, Ahren Posthumus.

This pioneering fundraising effort follows a devastating collapse by nearly 90% of the population of rhino protected by the government in South Africa’s national and provincial parks - largely due to poaching for the rhino horn. It is clear that it will take urgent and innovative interventions to save and conserve our remaining rhino for future generations. 

But over the same 10 years, the number of rhinos in private conservancies has grown by more than 33%. The number of rhino in private conservancies has grown from 3 500 rhino in 2011 to almost 10 500 rhino in 2021. Therefore, there is hope in the fight to save our rhinos, but that hope urgently needs help – and funding. The conservation of rhino involves expensive security, veterinary intervention and supplemental feeding in times of drought, requiring millions of dollars each year. “Virtual Nation Builders is thrilled that the use of blockchain technology and crypto assets, such as NFTs, towards rhino conservation efforts in South Africa has been made possible. And through world-renowned NFT Auditors, the winning bidder of the NFT will be awarded a full audit trail underlying the value of this particular crypto asset, with guaranteed certainty of ownership,” says Maurice Crespi, CEO of Virtual Nation Builders. 

“We will continue to partner with Virtual Nation Builders for the sale of NFTs. In the future, they may even give the owner rights to the physical horn - of course with the caveat that the buyer has a permit and that the country has deemed it a legal trade. These conditions will likely only be met once the Rhino population stabilizes. Until such a time, why not allow commodity traders to speculatively trade the asset, which is proven to come from a humane and sustainable source. The proceeds help conservation efforts'' - Says Momint CTO, Adam Romyn.

The rhino horn NFT will be auctioned to the highest bidder at South Africa’s first ever live NFT auction hosted by Momint. Momint is South Africa’s own social media marketplace for NFTs. Momint is a dynamic, homegrown local platform which provides South Africans with the opportunity to access the digital marketplace and unlock the value of NFTs using the Momint app on their smartphones. 

The live auction will take place on 11 November, at the Radisson Blu in Cape Town. Private and confidential bidders are also welcome to register their bids ahead of the auction. Participants, bidders and the media are welcome to register to attend the live auction using the registration link here (venue capacity is limited).

Media Contact
Company Name: Momint
Contact Person: Julia Short
Email: Send Email
Country: South Africa

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