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In December 2021, four recent college graduates met to discuss possibly creating a project that could ride on the Crypto-NFT wave. This meeting resulted in the founding of Costa Jaguar an NFT project that aimed to represent Latin American culture with a contemporary twist. Additionally, the team wanted to explore the feasibility of raising funds for NGOs using blockchain technology. In order to achieve this, the Costa Jaguar team partnered with the Black Jaguar Foundation. As a part of this partnership, the CJ team agreed to donate 20 percent of the project's revenue to support the organization's goal of reforesting the Amazon Rainforest in Brazil.

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