Aussie innovators reward investors with Sustainability NFTs
- Written by Tess Sanders Lazarus
The team at Cassava Bags Australia is not content with saving the planet with their plastic free single use bags that dissolve within minutes in hot water, they also want to thank their shareholders by rewarding them with the world’s first investor NFT catalogue.
We are determined to do things differently at Cassava Bags Australia,” Cassava Bags Australia, chief operating officer, Telusa Mapapalangi said.
We want to make single use plastic bags history by replacing them with a fully organic all natural bag made out of the Cassava plant that completely breaks down in the earth within a matter of months and can also be consumed by marine life should it find its way into our oceans. And yes, our bags are not only strong and robust, they also dissolve within minutes in hot water,” Mapapalangi said.
We also want to reward our investors with NFTS. NFTs are becoming increasingly popular as more and more people move into the crypto space. Essentially, NFTs are a digital image or piece of art that can be sold to others directly or via NFT trading platforms.
We decided to do this as measure of our thanks to our investors. We are undertaking a fund raising round at the moment to meet the cost of expansion via the Birchal equity crowdfunding platform and we want to ensure we have truly acknowledged everyone’s valued contribution in the form of a unique Cassava Bags NFT.
Hopefully over time the NFTs will grow in value and be recognised for their stance in helping to de-plasticify the planet.”
According to Mapapalangi, when Cassava Bags Australia began looking at ways to reward investors, the standard options were either producing branded memorabilia or gifting merchandise, so the team started looking at other options including NFTs.
In line with our theme of keeping things real and unique, we enlisted creative production agency Relator to create a range of innovative NFTs with allocated values to them,” Mapapalgani said.
Initially we were concerned about the energy consumption of the blockchain industry as sustainability is a core value of the business. To address this, our NFTs will be minted on Tezos. It is a well-known and reliable proof of stake blockchain that operates with lower energy requirements than others.
We have created five tiers of NFTs tied to investment value. Each NFT has been uniquely designed to reflect the style, aim and ethos of sustainability and humanity’s progress towards the green economy.
Every investor will receive one of our unique NFTs based on the value of their investment.
Who knows, our NFTs might become so unique they grow in value and become collectors’ items. That is the beauty of NFTs, it is a new and emerging area of crypto with so much growth and potential ahead.”
Cassava Bags Australia produces non plastic all natural single use bags made from the Cassava plant. The Cassava is a nutty flavoured starchy root vegetable that is extremely versatile and commonly used to make tapioca.
The Cassava starch is extracted and combined with organic components to create a biodegradable film which is then used in the manufacture of non-plastic bags and other items.
The business was established by three millennials and business colleagues with a love for the great outdoors - Delarossi, Chun Lau and Telusa Mapapalangi.
Our company is founded on the belief that businesses can be a force for good and that the actions of people, both individually and collectively, have the power to change the world,” Mapapalangi emphasised.
About Cassava Bags Australia
Established in 2019, Cassava Bags Australia is a new company based in Sydney. The company produces a range of environmentally-friendly single use bag products, such as bin liners, shopping and fruit and vegetable bags and pet waste bags that can biodegrade in home composting, landfill and composting facilities without leaving any toxins behind. The company aims help businesses reduce their plastic footprint by making better choices to eradicate single use plastic.
