Leading African Conservancy to Raise Funds for Rhinos via Auction of Horn NFTs

Black Rock Rhino, a leading rhino conservation organization in South Africa, is planning an auction of non-fungible rhino horn tokens to raise funding for the endangered species (NFTs).

Auction Proceeds to Pay for Sanctuary’s Expenses

The rhino conservancy, which is home to over 200 rhinos, is teaming up with a blockchain technology business called Virtual Nation Builders to auction the non-fungible tokens at Momint, one of South Africa’s largest NFT marketplaces. The earnings from the November 11 auction, according to a statement posted by Black Rock Rhino, would be used to pay for part of the sanctuary’s day-to-day expenses.

“The net earnings will go toward safeguarding the area, feeding, immunizations, and other day-to-day conservancy operational expenses,” according to the statement.

The revenues from the sale are likely to benefit conservationists in their continued efforts to prevent rhino mortality, in addition to financing the conservancy’s daily expenses. The rhino population in government-run national parks has decreased from 18,000 to 2,000 in the last decade, according to a statement released by Black Rock Rhino.

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Rhino Horn Trade Ban

Although poaching is the primary cause of rhino population decrease, some researchers believe that rhinoceroses murdering each other are also a major cause of mortality. As a result, rhino specialists urge for the removal of the sharp end of the horns in order to decrease mortality in the event of a confrontation.

Since the trade of rhino horn, which is worth roughly $25,000, is prohibited, Black Rock Rhino conservationists believe the digital and photo-realistic horn NFTs will bring in more money at the auction.

In other words, rhino enthusiasts all over the world will be able to obtain a rhino horn without actually breaking the 1977 Convention on International Trading in Endangered Species (CITES) ban on rhino trade.