EFFORCE launches public sale of Steve Wozniak-inspired Genesis NFTs to implement two energy efficiency projects

VALLETTA, Malta — VALLETTA, Malta, 21 September 2022 — EFFORCE has announced the public sale of its first Energy Efficiency NFT batch. These NFTs, inspired by EFFORCE co-founder Steve Wozniak (Apple co-founder), will help the company set up a new era of energy efficiency projects using the crypto community. The EFFORCE vision rests on introducing a new type of utility NFTs, based on the new concept of “Proof of Contribution”. The Genesis NFTs are part of the Energy Efficiency NFT effort and are a tool used to implement improvements required to make businesses more energy efficient. In this era of climate change and ESG, it is crucial to meet the expectations of consuming less energy. EFFORCE will start the sale of 2500 Genesis NFT per project. The first project is a 180 kwe combined cooling heating and power plant. It is part of an undisclosed company’s effort and will operate over 8,000 hours per year to meet the company’s refrigeration/air conditioning needs. In addition, it will itself produce 1.4 GWh/year of electricity. The price per NFT is 210 USDC. Users must lock 400 WOZX for each coin. In addition, the project has estimated rewards of 735,000 mWOZ. Project number two is an EEP (Energy Efficiency Project) for an undisclosed company that will supply 60% of the electricity needed for a sewage treatment plant. It will also provide heat for a sludge drying plant, reducing up to 80% of the weight of the disposable sludge. That project has expected rewards of 665,000 mWOZ. The NFT price for this venture is 190 USDC and requires locking 380 WOZX tokens per coin. EFFORCE co-founder and former Apple engineer Steve Wozniak said: “EFFORCE is focused and working hard to complete the goals and vision that were put in place when we founded it. From today everyone will be able to work with the community and directly support energy efficiency projects. Improve energy efficiency equipment, their structures, drastically reduce energy consumption and impact on the world environment. Most importantly everything will be done through a completely decentralized and transparent system thanks to the blockchain.”

EFFORCE CEO Paolo Pastore adds: “By using NFTs as proof of contributions to energy efficiency projects, we can create a new market, and keep these contributions liquid as long as there is demand for them. This was not possible before: funds deposited would be locked for the entire project’s duration duration with no chance of getting them back before the end. Now, by selling an NFT, contributors can easily move out of their position.”. Contributing to energy efficiency projects is reserved for WOZX token holders who are willing to lock their tokens for the duration of the project. Locked tokens generate rewards that come from 1% of the platform savings generated by the approved energy efficiency projects. Rewards are proportional to the number of tokens locked. Each EFFORCE NFT is a Proof of Contribution NFT with utilities attached, providing holders with rewards derived from energy saved by the company that received the contributions. In addition, Genesis NFT allows holders to participate in a private sales phase for new projects published on the platform. NFT holders can reserve a number of NFTs equal to the number of Genesis they hold. Additionally, they get discounts on WOZX usage, including staking/using less WOZX to create future NFTs. Pastore adds: “We decided to deploy our smart contracts on Polygon to avoid high gas fees, which would have been a major bottleneck for the entire ecosystem.”

The NFTs issued by EFFORCE take elements from co-founder Steve Wozniak’s inspiration. The artwork will be revealed after the actual completion of the project, coinciding with the NFT stake contract going live on the network. Both of the current projects will have at least one unique piece of art and several rare/super rare creations. After the companies have implemented the requested change, a stake contract will go live on the blockchain. That contract provides mWOZ tokens (mWOZ represents 1 USDC energy saved) equal to the reward generated by energy savings per month. Users can convert mWOZ to USDC through another chain contract. There is a minimum APR of 8% for up to 40% after five years. As a result, a minimum of 1.4 million mWOZ tokens will be distributed to NFT players if the Genesis NFT coin is sold out. EFFORCE commits to the entire amount required to kick-start the implementation and secure the project. Unsold NFTs will be removed from the market and burned. Rewards linked to EFFORCE’s capital will be retained by EFFORCE and allocated to other energy efficiency projects.

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