Moen Created Five NFT Art Designs Inspired by the Five Major Ocean Gyres
Laura McQuarrie — April 22, 2021 — Eco
References: opensea.io & prnewswire
Inspired by the five major ocean gyres located across the globe, Moen created five NFT art designs as part of its Mission Moen sustainability commitment. As the brand is passionate about protecting and preserving the world's most precious resource, it wants to inspire care and action through ownership.
Proceeds from the auction of the five digital assets will help to support the non-profit organization 5 Gyres. The brand has also taken steps to make its NFTs carbon-negative so that the environment is further protected from the impact of cryptocurrency itself.
As of Earth Day, Moen is introducing a new commitment to recover and repurpose 2,000 tons of ocean-bound plastic by 2030 and incorporate recycled ocean plastic into packaging for products.
Proceeds from the auction of the five digital assets will help to support the non-profit organization 5 Gyres. The brand has also taken steps to make its NFTs carbon-negative so that the environment is further protected from the impact of cryptocurrency itself.
As of Earth Day, Moen is introducing a new commitment to recover and repurpose 2,000 tons of ocean-bound plastic by 2030 and incorporate recycled ocean plastic into packaging for products.
Trend Themes
1. Sustainable NFT Artworks - Brands can use NFTs to promote sustainability causes and donate proceeds to non-profit organizations creating an opportunity to create a new niche market for collectors interested in both art and environmentalism.
2. Carbon-negative Nfts - As more consumers become cognizant of the carbon footprint of cryptocurrencies, creating carbon-negative NFTs can be a disruptive innovation that opens up a new market for environmentally-conscious crypto investors.
3. Recycled Plastic Packaging - Using recycled ocean plastic in packaging can be a disruptive innovation for industries producing single-use plastic items to reduce the amount of plastic waste and appeal to customers who prioritize sustainability.
Industry Implications
1. Art - The application of NFT technology can disrupt the traditional art industry, by offering new monetization mechanisms and engaging a younger, tech-savvy demographic interested in unique digital ownership which focuses on social causes.
2. Crypto - Creating carbon-negative NFTs by offsetting the blockchain’s carbon footprint can be a disruptive innovation for the cryptocurrency industry, both by reducing its negative impact on the environment and providing investors with an environmentally-friendly option in their portfolio.
3. Consumer-packaged Goods - The use of recycled ocean plastic in packaging will resonate with environmentally-conscious consumers and can be a disruptive innovation for consumer-packaged goods industries. It provides an opportunity to reduce their environmental impact and engages customers who prioritize sustainability in their purchasing decisions.
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