Adam Neumann (TechCrunch YouTube photo)
Founder WeWork The controversial Adam Neumann recently launched a start-up, FlowcarbonFor the sale of carbon dioxide emission permits (carbon credits) And documents the transactions in the blockchain network, which is used to trade cryptocurrencies. The company has 35 employees in offices in Berlin, Montana and New York.
Flowcarbon Reported this week that it has raised $ 70 million from large investors such as the crypto arm of Andersen Horowitz, General Catalyst and Samsung Next. The protocol of Flowcarbon Helps projects sell carbon credits to companies looking to reduce their carbon footprint. Credits can then be traded on crypto exchanges, the company says.
Why put these credits in the chain? Supporters, including GibberSay that this allows projects that provide these credit to raise capital more easily and increases transparency for buyers.
Of the total funds raised in this round, $ 32 million came from venture capital firms and $ 38 million from sales Goddess Nature Token of Flowcarbon (GNT)Crypto token inCelo blockchain Backed by carbon credit, Reuters reported. Basic carbon credits of GNT Approved in advance by industry groups, incl Verra, Gold Standard, Climate Action Reserve and-American Carbon Registry And then sold in bundles to companies, according to Reuters.
More in-
Giber told Reuters that carbon credit providers are paying a 2% token fee toFlowcarbon To sell their credit online, is lower than the cost they will incur when selling these credit through traditional channels, which can be up to 30% of the project value.
The company is playing in a crowded field, as many startups have jumped on the bandwagon with the renewal funding movement (ReFi) Of Crypto, which aims to leverage blockchain technology to solve environmental problems. Projects like Toucan, Regen, Moss and-KlimadaO They are all working on crypto-based carbon solutions.
Private sale of token GNT of Flowcarbon Ends in two days, and the company now allows people to pre-register for an upcoming public sale of GNTAccording to her website.
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