ImpactScope Offsets the First NFT Minted Under Switzerland’s New Distributed Ledger Technology Law

During a live event in Geneva on June 11 organized by the Swiss Crypto Valley Association and supported by Swiss cryptocurrency lending platform YouHodler, history was made when Russian YouTube star and music artist polarrana, in cooperation with NFT design studio Arcades Digital, dropped the first ever NFT which is fully compliant under Switzerland’s recently adopted Distributed Ledger Technology Law.

Russian YouTube star and music artist polarrana

ImpactScope was proud to be chosen by Arcades Digital as the official sustainability partner for the NFT drop. “We were thrilled to be part of this historic event, and we applaud both polarrana and Arcades Digital for ensuring that this NFT drop was not only 100 % compliant under Swiss law, but also carbon negative. By purchasing additional offsets in high quality emissions reduction projects in Guatemala and Mexico, Arcades Digital is leading the way in designing environmentally responsible digital assets”, commented Gregg Betz, ImpactScope co-founder.

What makes this NFT unique is that the rights to the token are certified directly with the artist and the detailed 20-plus page license contract is “baked into” the NFT, which in turn uniquely refers to the music file being licensed. Arcades Digital CEO, Christoph Ebell says: “We are thrilled to bring together such amazing talent – polarrana as an artist and young female entrepreneur, our legal and technical team as well as marketing and design. We’re making music licensing history, and we know that polarrana’s fan base appreciates that the carbon footprint of this NFT is being offset with the help of ImpactScope.”

Polarrana commented, “Being good to our environment is very important to me. When I decided to release my music as an NFT I wanted to consider every aspect of it, including its carbon footprint. The ImpactScope team was amazing in helping me understand how much energy we used and help me find environmentally friendly projects that can offset this. I hope other artists will follow and we can be good to our planet, together!”