The first NFT of a rhino horn sold at an auction in South Africa, as conservationists tapped into the craze for NFTS (Non-Fungible Tokens) to raise money to protect real rhinos. Businessman Charl Jacobs paid US$6,850 for the digital horn (the actual horn was not sold), which he will place in a trust for his children. Proceeds from the sale went to the Black Rock Rhino Conservancy, home to 200 rhinos that are able to breed while protected from poachers. An NFT is a digital asset that represents real-world objects like art, music, photos, videos, etc. Its authenticity is certified by blockchain technology (a form of digital ledger) and can be bought and sold online. NFT technology allows a beneficiary to receive commissions from future sales, so if Jacobs sells his NFT, Black Rock Rhino would receive a portion of that sale.
