Brazilian Prosecutors Probe A Amazon Forest NFT Selling Company

Ozioma Sani 03/08/2024 Crypto Crime News, Cryptocurrency News Leave a comment 192 Views

Nemus, a Brazillian company that sells non-fungible tokens (NFTs) says that these are linked to the physical land in the nation’s Amazon rainforests. While the connection of the actual land with Amazon Forest NFT seems interesting there is a loophole in it. Brazilian prosecutors recently asked the company to prove its ownership of the which is currently claimed by the indigenous people, mostly tribes.

Action Against the Amazon Forest NFT Seller

The prosecutors have given the company a period of 15 days to provide necessary documents to prove their stance on it. Nemus has also been accused of drifting the indigenous people away from the region by forcing them to endorse certain documents that they have no knowledge of. The prosecutor’s office released a public statement on July 25, 2022, that mentioned that:

“People from the company delivered a sign to the villages, written in English, and asked the indigenous people, who can barely read, to sign documents without clarifying the content or providing a copy.”

Fernando Merloto Soave, a Federal Prosecutor, made a comment to the Thomson Reuters Foundation that the office was intending to publicize the issue in order to raise awareness among the common people. He said that:

“The company advertises that indigenous people are benefiting, but at the same time a part of them came to us to denounce that they don’t know what is happening.”

Soave noted that their office was trying to figure out if the land was privately owned by the Amazon NFT seller or not. In case the federal government finds the land to be indigenously owned, the stance by Nemus would be regarded as invalid then. The company whose tagline is “Treasure the forest” has been selling Amazon Forest NFT by saying that the tokens digitally represent real pieces of land in the Amazon rainforest. However, to preserve the rights of the tribe and people residing in the area, the prosecutors’ office took such a move.

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