Black Rock Rhino is a South African rhino conservancy that plans to auction non-fungible tokens of rhino horn (NFTs) in order to raise funds for endangered species.

Auction proceeds to pay for Sanctuary’s expenses

In what has been billed a first, the rhino conservancy — which is home to over 200 rhinos — together with a blockchain technology firm Virtual Nation Builders, is set to auction the non-fungible tokens at one of South Africa’s biggest NFT marketplaces, Momint. According to a statement released by Black Rock Rhino, the proceeds from the November 11 auction will be used to pay for some of the sanctuary’s day-to-day expenses.

” The net proceeds will be used to secure the area, feed, vaccines, and other daily operating expenses of the conservancies,” stated the statement.

The sale will not only fund the daily expenses of the conservancy, but also help conservationists continue their efforts to reduce rhino deaths. As the statement by Black Rock Rhino reveals, the rhino population in government-run national parks has dropped from 18,000 to 2,000 in the last decade.

Although poachers are responsible for the sharp decline in rhino population, experts believe that the other leading cause is rhinoceroses killing one another. To reduce the number of rhinoceroses dying in conflict situations, experts recommend that the sharp end of the rhinocerose horns be removed.

Rhino Horn Trade Ban

However, since the trade of the rhino horn — which is valued at around $25,000 — is banned, conservationists at Black Rock Rhino believe the digital and photo-realistic horn NFTs will yield more from the auction.

In other words, this means rhino lovers around the world will be able to acquire a rhino horn without actually violating the ban on rhino trade that was imposed by the Convention on International Trade of Endangered Species (CITES) in 1977.

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