REC

Renewable energy credits, or RECs have up until now been one-off contracts issued by green generators and sold to multinationals and fossil generators who want to improve their green credentials. This is done on a compliance or voluntary basis, but it requires many complex contracts and processes. With our REX NFT, RECs are being tokenized, and that signals the start of a new era of certification. In commercial terms, tokenizing is perfect for RECs because it not only simplifies the process but also prevents the current possibility of double counting or even fraud. Furthermore, it spawns a more vibrant and creative marketplace around RECs. The kind of environment that could see sophisticated trading and management of green energy, which would disrupt a six billion dollar industry. In a secondary REC market we might see the ability to connect with smart contracts and improved market depth and transparency. It’s also likely that more specific forms of RECs will emerge, which relate to the time and place of the creation of green energy. All of this helps the REC market avoid dysfunctions. The biggest value proposition for tokenizing RECs is integrity. Certificates that are minted by a smart contract on the back of the smart meter feed are inextricably linked to the generation. Once sold by the generator or acquitted against RE100 targets or RPS obligations, the same REC cannot be sold again or used twice against a different set of sustainability obligations. Bitcoin solved the double counting problem for digital money. REX NFT solves it for the renewable energy industry. JPEG art may have revealed the gimmick side of NFTs, but REX NFTs benefit to the planet is very real. We are opening up a consumer market for renewable energy credits and lowering the barriers to entry. Now individuals can get involved for as little as $250. We are also launching an exclusive online REX club and metaverse for all holders, as well as token that will be used in the REX NFT ecosystem. It will be airdropped to all REX NFT holders on a weekly basis. 2,500 REX Coins per REX NFT owned will be sent to all REX NFT owners each week.