How does the project funding work?

The 85% of funds raised that goes to the project wallet is used to fund the work to regenerate the forest: creating a tree nursery, clearing the ground for planting, planting the seedlings and protecting the tress as they grow. These activities will be defined and planned in series of “milestones” that will be publicly available prior to the mint.

Funds will be released from the wallet to the project manager to fund a milestone once the project manager presents evidence of the completion of the previous milestone.

NFT holders can vote to stop funds from being released to the project manager if they believe the previous milestone has not been met. This gives NFT holders control over their investment.

The money raised in the initial mint covers projected costs for the first 5 years, at which point revenue to the project wallet from sales of carbon credits is expected to cover many times the required ongoing investment to protect the forest as it grows.

Isn’t the blockchain bad for the environment?

Some blockchains use a huge amount of energy, which is a big problem. However this is not true of all blockchains. Angry Teenagers are minted on Tezos, a blockchain that uses “Liquid Proof of Stake”, and which uses dramatically less energy than networks like Ethereum. This study by PWC goes into all the details, also demonstrating that as the Tezos technology evolves, the already low energy usage is falling further.

Therefore it is reasonable to say that on Tezos energy usage is not an issue, and will not become an issue. While some blockchains may be bad for the environment, Tezos isn’t. That is why it is home to the #cleanNFT movement.

FAQ

Why do I need a "wallet"?

A wallet is your account on the blockchain. On other websites you create an account. To use a blockchain application you need to have an account - "wallet" - on that blockchain. The cool thing is that once you have one blockchain "wallet" you can use that with any application or site that runs on that blockchain. You don't need to create any more accounts. That one account opens up every site or application that uses that blockchain.

The wallet is where you Angry Teenager will be saved.

How do I create a wallet?

We recommend using Kukai. Go to the site and login with a social login - twitter, facebook, google or Reddit. Simple as that.

Then come back to the Angry Teenagers and click "Connect Wallet". You'll have to have your wallet open and confirm that you want to connect. All done.

How much money will be raised form the Angry Teenagers NFT sale?

Between 4000 and 5000 NFTs will be minted for between $175 and $225 (exact numbers and prices to be confirmed following detailed costing of the reforestation project.

How will the money from Angry Teenager sales be spent?

100% of the funds raised are paid directly into a “project wallet” to fund the planting of the forest. This wallet is controlled by the holders of the Angry Teenagers NFTs.

What is a carbon credit?

A carbon credit represents either one ton of carbon dioxide removed from the atmosphere, or the avoidance of the release of one ton of carbon dioxide being released into the atmosphere.

Carbon credits are a financing tool to support projects that either reduce emissions or capture carbon dioxide. In the past there had been huge variety in the methods used to issue carbon credits. This has resulted in a wide range of “quality” in carbon credits: how likely a given credit is to represent a real reduction in carbon dioxide.

The Angry Teenagers work to the highest global standards, and give further visibility through updating data directly on the NFT to ensure that every carbon credit we issue represents a real, provable and independently verifiable reduction in carbon dioxide.

How does the project funding work?

The funds raised through Angry Teenagers sales go to the project wallet and are then used to fund the work to regenerate the forest: creating a tree nursery, clearing the ground for planting, planting the seedlings and protecting the tress as they grow. These activities will be defined and planned in series of “milestones” that will be publicly available prior to the mint.

The project coordinator is called EcoMint. Funds will be released from the wallet to the project coordinator to fund a milestone once the project manager presents evidence of the completion of the previous milestone.

NFT holders can vote to stop funds from being released to the project manager if they believe the previous milestone has not been met. This gives NFT holders control over their investment.

Isn’t the blockchain bad for the environment?

Is this a Ponzi scheme or Pyramid scheme?

No.

There is a lot of justifiable bad press around about crypto projects. Many seem to promise outsize returns that appear as if by magic. The Angry Teenagers is not one of these projects.

This is a “peer to project” investment. A distributed group of people put their money into a wallet, which is then controlled by them. They act as a group to invest that money into a project, and can earn returns from that project based on the money realised from sale of carbon credits.

The returns that are paid are real, transparently traceable and independently verifiable. The sale of carbon credits also generates revenue that is invested by SYND Ghana directly in the local community.

How will we ensure the carbon credits we sell go only to the best companies, and are not used to “greenwash” by bad actors?

“Greenwashing” is the process whereby a company or individual can pay to buy carbon credits to reach “carbon net zero”, without making changes to lifestyle or business practice. This allows those with money to simply buy-off their impact, rather than make difficult changes. However we need change in lifestyle and business practice if we are to keep global warming under 1.5 degrees. The richest individuals and businesses need to make the biggest changes, as their impact is disproportionately large. Paying to get themselves off the hook by reaching net zero is not nearly enough.

The Angry Teenagers are very discerning over which companies are allowed to buy our carbon credits. They need to demonstrate real leadership in their approach to climate change. Buying carbon credits can be an important part of an overall climate strategy; but it cannot be the only way that a company seeks to mitigate its impact.

Are Angry Teenagers NFTs themselves “net zero”?

The technology of Angry Teenagers uses very little energy (see “Isn’t the blockchain bad for the environment?” above). However it does use some energy. It also uses some energy to plant trees, to bring in experts to survey the project site, and in other areas of ongoing operations.

Angry Teenagers reserve a percentage of each reforestation project to generate carbon credits that will not be sold, but simply retired. The area that is reserved for this purpose will be calculated to ensure that The Angry Teenagers are not only net zero but will be net negative. Exact estimates of the net negative impact will be published prior to the mint.

Why is it so important to restore nature?

Restoring nature is so important that every single international climate plan includes measures to restore forests and biodiverse ecosystems. Biodiverse nature is the most scaleable and efficient way to remove carbon today, but it does so much more than that. It supports complex communities of animals and plants. It’s essential to regulating heat and cleaning water. It provides the oxygen we breathe. It’s livelihood and home to communities around the world.