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DeepMarkit boosts its MintCarbon.io NFT platform with Top Energy LOI

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Canadian technology company DeepMarkit Corp., (TSXV: MKT) (OTC: MKTDF) (FRA: DEP), which is working on the minting of carbon offset non-fungible tokens through MintCarbon.io, is pushing ahead with its carbon credits NFT initiative with a new letter of intent with Top Energy.

MintCarbon.io is part of DeepMarkit’s  wholly owned subsidiary First Carbon Corp. Top Energy is focused on energy-friendly solutions in Mexico and Spain. The two companies are currently working to crystallise the LOI into a definitive agreement after which Top Energy will introduce and onboard carbon credit projects onto the blockchain through MintCarbon.io.

The deal will be important for First Carbon, as it further legitimises its technology, helping to position MintCarbon.io at the centre of the emerging NFT market for carbon credits. First Carbon’s MintCarbon.io, is a web-based, software-as-a-service platform that facilitates the minting of carbon credits into non-fungible tokens. It is currently undergoing testing and FCC anticipates an official launch of the platform in 2022.

DeepMarkit says it expects the new co-operation with Top Energy “to facilitate extensive and diverse exposure to numerous alternative electricity-based carbon projects.”

Under the terms of the LOI, DeepMarkit and Top Energy will conduct necessary due diligence and negotiate the terms of a definitive agreement to govern the terms of the arrangement.

Who is Top Energy?

Top Energy has specialised in clean energy technology in Spain since 2003 and expanded into Mexico in 2013. The company has installed more than 41.8 megawatts of clean energy across 23 Mexican states representing more than 100 institutional clients.

“Top Energy foresees incredible potential in this strategic alliance with First Carbon, bringing transparency and validation to an obscure market. We seek to take the ‘wild west’ out of the carbon trading world by marrying our clean energy credits with blockchain technology. This will offer an additional layer of assurance to our buyers,” said Jonathan Gonzalez, CEO of Top Energy.

MintCarbon.io matches emergent NFT technology with the carbon credits market, allowing owners of verifiable credits to have these minted into NFTs using the blockchain. These can then be sold to buyers either via the main NFT trading forums or indeed directly. We foresee this could potentially be an incredibly important market, allowing smaller holders of carbon credits to realise their value more easily.

Solution for emerging markets carbon credits

“This sector is in severe need of additional green financing mechanisms to help the mass adoption of renewable energy in developing nations, especially in parts of the world without proper carbon markets. Through our partnership with the First Carbon platform, Top Energy seeks to realize liquidity through providing tokenized access to carbon projects,” added Gonzalez.

First Carbon told us that they anticipated substantial institutional interest in the carbon credits NFT space. MintCarbon.io is one of the first movers in this space and very close to being able to start commercial minting of carbon credits.

“Once formalised, this arrangement will provide liquidity to Top Energy’s carbon credits, while delivering DeepMarkit important and valuable transaction volume,” said Ranjeet Sundher, Interim CEO of DeepMarkit.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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