**3. Blockchain solutions in front of nature conservation**

This study assessed a sample of coins (tokens) and blockchains launched for nature conservation purposes. The choosen coins and blockchais include the ones with roles for fauna protection; fishery control; forest conservation initiatives, with and without social projects; tree planting; miscellaneous sustainability projects; and, a relevant share of forest and nature projects related to carbon sinks with carbon credits accounting. They are listed by their major roles and objectives in **Table 1**.

The sample of coins and blockchains analyzed offered relevant findings about their tokenomics2 and roles in providing solutions related to sustainability issues. Their objectives (or promises) are widely diversed, such as purposes for fundraising, investment businesses, digital market platforms, carbon offsetting services, forest conservation, and animals monitoring. The general impression of the group of coins analyzed is that they present clear tokenomics, thus providing basic transparency to investors, however, they show a massive general devaluation pattern from its ICO to present time. In this pattern, the "boom-collapase" pattern is clearly observable with astonishing appreciations in the first months after its launch, sometimes with itermediary peaks and lows, then, followed by a massive depreciation, in many cases to values well under their initial price offering. In some cases, they show an eventual boost of appreciation in the course of their depreciation, due to massive sell-offs and other causes [8]. Such volatity supports the rather inappropriate role of these currencies to serve as store of value, means of exchange and registry, thus narrowing their use mainly for speculative moves. Rest aside their roles to provide funds for nature related projects. In this case, the analysis of information provided in the coins' websites (**Table 1**) provide a range of information suchs as the number of planted trees, metric tons of carbon storage, hectares of protected forests, animals monitored, and the like. In some cases, no information whatsoever is provided, or only vague information about "projects to be supported", under partnerships to come, and else.

The general perception of a weak object achievement by most coins related to nature is also seen from the distance between their positive market attractiveness to their effectiveness for the conservation of a piece of nature, moreover, when local populations are included, thus inducing the analysis of social and lifequality improvements. These information is not observed in any project related to forests, being, either with carbon credit metrics or not. Nevertheless, nature conservation

<sup>2</sup> Tokenomics is the set of elements that make a particular cryptocurrency valuable and interesting to investors. It includes issues related to the token's supply and how it is issued to subjects like its utility or objectives.

