7/23/2023 0 Comments Crypto carbon creditsNature-based projects may include reforestation, conservation, or nature restoration efforts. “Our mission is to provide the financing necessary to scale projects that reduce or remove carbon from the atmosphere… In particular nature-based projects.” It allows them to sell their credits forward to buyers who’ll enjoy more transparency.Īlso, buyers from all backgrounds can join the Flowcarbon blockchain-backed market of carbon credits. But the trend toward carbon-linked tokens persists to rise as demand for carbon credits surges.Īnd to help address the issues, Flowcarbon tokenized carbon credits through its two-way bridge, allowing credits to be on and off-chain.īy tokenizing credits, developers will gain cheaper financing earlier in their project’s life.It’s fragmented, not transparent, hard to access, and there are doubts over the quality of some carbon credits.Ĭritics said that traders are converting older, lower-quality carbon credits into virtual assets. The current VCM is criticized for a couple of things. It will democratize access to offsets and incentivize high-impact climate change projects. The aim is to drive investment in projects that remove carbon from the air.įlowcarbon’s blockchain technology seeks to bring carbon credits on-chain. In particular, the funding is for developing a protocol that tokenizes carbon credits. The climate tech firms will tap into the growing VCM to help companies offset their GHG emissions to fight against climate change. The other $38 million is from the firm’s sale of its “Goddess Nature Token” (GNT).įlowcarbon’s Blockchain Technology for Carbon Credits.The $32 million is from the funding round led by venture capital giant Andreessen Horowitz (a16z) – Other major contributors are Samsung Next and Invesco. Its first major funding round is for building market infrastructure in the voluntary carbon market (VCM). The former WeWork CEO Adam Neumann co-founded the blockchain startup. And by leveraging Web3, it aims to protect the earth’s natural carbon sinks. Its main goal is to help speed up climate change solutions by tokenizing carbon credits. Flowcarbon, a blockchain-enabled carbon credits trading firm, has raised $70 million.įlowcarbon is an NYC-based climate tech company that operates at the intersection of carbon and crypto.
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