Recycle to Earn: New Crypto Project Earning You Rewards For Your Trash
A new crypto project where you can earn rewards?! The Blockchain Startup Of The Year Award went to Circularr this year at the European Blockchain Convention and for good reason.
Eric Vogel (co-founder of Circularr) pitched his ‘recycle to earn’ crypto project at the European Blockchain Convention earlier this month, decades after he bought himself a Nintendo Game Boy console from the cans and plastics he recycled from his grandmother’s house.
Vogel’s startup is permitting consumers to deposit plastic waste at smart bins, recycling points, and collection points (e.g. turnabout vending machine producers) via partnerships. The containers are gathered and conveyed to a recycling plant. This broadly utilized procedure, however, is now integrated with blockchain technology.
Through a native wallet, the recycler is awarded a deflationary utility token that can be exchanged for exclusive offers and bonuses such as a free meal or coffee, or to mint NFTs (non-fungible tokens) with subjacent info about recycled resources, such as the plastic-type or its derivation (this supplying an end-to-end auditability of the recycling operation).
Recycle To Earn: New Crypto Project Where You Can Earn Rewards
Speaking to Cointelegraph, Vogel said: “Plastics from a specific event or venue could fetch an even higher price than a standard metric tonne of recycled plastic, as it would have all of the underlying data attached to it. So, brands and organizations could upcycle this plastic to produce limited edition kit or merchandise from key events.”
Vogel went on about his recycle-to-earn crypto project: “By using blockchain technology, it becomes possible to create a digital trail that records every step of the recycling process, from the collection of waste to the sale of recycled materials.”
🎉 We are beyond honoured to have been selected as the European blockchain startup of the year at the @EBlockchainCon Thank you to the organisers, jury, and all the amazing startups and the community for an unforgettable experience. 🙌🏼 #EBC23 #blockchain #innovation https://t.co/AjidLbk4Pz
— Circularr (@Circularr_hq) February 20, 2023
As Blockchain Startup of the Year, Circularr is adding immense value to the blockchain and recycling sector.
In addition, recently, GEM (an alternative investment group) committed $50 million to Vogel’s startup, providing materials and liquidity to fender MRFs (Material Recycling Facilities).
Have you heard about this project? Let us know in the comments below!
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