NFT sales aim to help save dwindling water resource in Texas
DALLAS, April 20, 2022 /PRNewswire/ — At the end of its inaugural launch in March, Ogallala Life in conjunction with AcreNFT, raised $200,000 in Non-Fungible Token (NFT) proceeds to save the Ogallala aquifer. A second-round NFT launch on World Environment Day aims to provide additional support for the ambitious project.
The imminent threat to America’s food production through water scarcity is at the heart of Ogallala Life. The biggest danger is the depletion and over-production of America’s largest groundwater aquifer. The Ogallala Aquifer has lost 10 trillion gallons of water over the past 40 years. Spanning eight states, eighty-two percent of the population within the aquifer’s limits rely on it as a water source, either for agriculture, drinking water, or for domestic use. If the aquifer dries completely, geologists estimate it could take more than six thousand years to replenish. The United States would be perpetually dependent on foreign sources for grain.
Ogallala Life’s Executive Director and Lead Geologist, Brandon St. Aubin, is a Michigan native and Texas transplant. He took fresh water for granted until moving to Dallas in 2021. St. Aubin has measured first-hand the effects of water depletion and misuse. As a geologist, he has a solution to the problem.
"All it would take is some industry practice, a bit of technology, and millions of dollars," said St. Aubin.
Thus, a unique marriage of geology, art, and tech came together to solve a major problem. Scott Kilgore, a seasoned software developer and Digital Assets Manager, had a novel solution to Ogallala Life’s financial need in the form of Web3. Kilgore implemented and utilized an organization called Angel Protocol, to create a perpetual endowment for Ogallala Life by leveraging decentralized finance (DeFi) on the Terra blockchain.
"Angel protocol gives everyone with a vested interest in our projects an opportunity to collaboratively save our future." Said Scott Kilgore.
Kaitlin Kilgore, a digital artist, observed the recent NFT craze and decided to utilize her talents as a digital artist to contribute towards Ogallala Life’s sustainable goals. She developed the AcreNFT project. The outpouring of support for this project was instant.
"There was a strong community desire to both collect artwork and help the world we live in," said Kaitlin Kilgore. "Within two weeks, the project was completely sold out!"
Proceeds from the AcreNFT project went entirely towards helping Ogallala Life develop its projects.
Plans to begin the work in the west Texas panhandle are underway. The company will build check dams along stream channels to capture and prevent mass evaporation of rainwater and install direct borehole groundwater recharge zones to replenish the aquifer. The projects will be carefully monitored with grid system technology to measure many different hydrological parameters as well as consistently record localized water levels.
"There has been a ton of interest in our project." St. Aubin added. "I think we all know that food shortages and water scarcity are on the horizon. We are actually doing something about it with the help of thousands of others. It’s very empowering to know we are all contributing to a brighter future."
Ogallala Life is involved with an additional upcoming NFT launch scheduled for World Environment Day on June 5. Those who are interested can mint a randomly generated ReFi Punk on Stagaze.Zone, which can include several key figures in the web3 regenerative finance (ReFi) community. Information about Ogallala Life, the team, and how you can contribute can be found on the company website at Ogallala.life.
Brandon St. Aubin
SOURCE Ogallala Life