NFT-ECO GENERATED BASED ON CARBON FOOTPRINT REDUCTION FROM SELECTION OF NEW VEHICLE

Smart overview of the Invention

The NFT-ECO system introduces a method for generating a Non-Fungible Token (NFT) that reflects the carbon footprint reduction when a user purchases a new vehicle. It involves collecting data from the user's current vehicle through the Controller Area Network (CAN), along with specifications for a new vehicle. By comparing the estimated carbon footprint of the current vehicle with that of the new vehicle, the system determines if the new vehicle qualifies for an NFT based on its environmental benefits.

Data Collection and Calculation

The process begins by receiving CAN data from the user's existing vehicle and the specifications of the intended new vehicle. The system calculates:

• An estimated carbon footprint based on the current vehicle's CAN data.
• An expected carbon footprint derived from the new vehicle's specifications and driving behavior.

By evaluating the difference between these two footprints, it qualifies the new vehicle for an NFT if it demonstrates a significant reduction in carbon emissions.

Qualification Criteria for NFT-ECO

To qualify for the NFT-ECO, two conditions must be met: the difference in carbon footprints must exceed a set threshold, and the expected footprint of the new vehicle must be lower than that of the current vehicle. If these criteria are satisfied, the system proceeds to create an NFT design that symbolizes this environmental achievement.

Customization and Design Process

The NFT-ECO can feature unique artwork and may represent quantifiable equivalents of carbon reduction, such as the number of trees required to absorb CO2 emissions. Users can customize their NFTs, choosing options like artwork or products to display their NFT, such as key fobs or mats. The design process allows users to incorporate personal elements like photos alongside environmental themes.

Delivery and Digital Representation

Once created, both a physical and digital version of the NFT-ECO is provided to the user. The digital version is stored in a database rather than on a blockchain, reducing energy costs associated with traditional NFTs. While not classified as cryptocurrency, this digital token may still hold tradeable value in future transactions. The entire process ultimately encourages environmentally friendly vehicle purchases while providing users with a unique token representing their contribution to reducing carbon emissions.