Telefonica Boosts NFTs with a Shot of Caffeine

Telefonica put non-fungible tokens (NFTs) back in the spotlight, expanding its marketplace for the digital identifiers with a pair of offerings it claimed could revolutionise the coffee industry in Latin America.

The Green and Carbon ranges employ blockchain technology to adapt coffee production based on weather conditions and connect buyers with sellers.

There are ten different NFTs available through the two ranges, granting “rights to virtual agricultural assets and sustainable projects”. Telefonica stated this will help address challenges including “limited access to resources” and a need for more ecological techniques.

Telefonica explained the tokens will enable investors to back specific projects in “renewable energy, sustainable agriculture and water conservation” to boost environmentally friendly methods of coffee production.

“Every NFT purchased is not only an investment, but also a commitment to a sustainable future and the preservation of the environment”.

Telefonica chief metaverse officer Yaiza Rubio said the expanded range would help establish its project as a “meeting place for those interested in the Web3 environment” along with those “who are not so familiar with these technologies”.

The company noted its latest moves strengthen its “offering for users interested in acquiring these unique blockchain-based digital assets”.

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