DeepMarkit Corp [TSX-V:MKT/OTC:MKTDF] has resumed trading on the TSXV in the wake of its acquisition of First Carbon Corp (FCC). The venture now offers investors the opportunity to participate in the modernisation of the global carbon credit market through blockchain-based solutions.
FCC is a next generation technology platform company focused on democratising tokenised access to carbon credits. Its flagship platform, MintCarbon.io, is being developed to offer carbon offset holders an on-ramp to the blockchain by enabling the minting of a carbon credit into a decentralised non-fungible token (NFT) via the low-emission Polygon network.
The company seems to be breaking new ground, as it could provide a very valuable bridge between the world of NFTs and blockchain technology, and the nascent market for carbon credits. Many generators of carbon credits could be provided with an avenue to sell these into a more liquid and certified market, using First Carbon’s tech.
Trading carbon credits using NFTs
NFTs minted via the MintCarbon.io platform are expected to be powered by Ethereum and tradeable in global decentralised marketplaces based on the blockchain. Further, all minted tokens are being designed to be ERC-1155-compliant and originate from verified carbon credits, the combination of which is expected to provide increased transparency, liquidity and security to the carbon offset market.
The goal of MintCarbon.io is to make it easier for large carbon emitters to participate in the global effort to reduce their impacts on the environment through the purchase of tokenized carbon offsets.
“DeepMarkit is well financed to kick-off this stage in its evolution and FCC is strongly positioned to offer democratised access, minting, tracking and trading of carbon credits in the form of tokens or non-fungible tokens on the blockchain to a global marketplace,” said Ranjeet Sundher, interim CEO of DeepMarkit.
First Carbon Corp aims to provide access to permissionless trading on decentralised trading platforms (such as OpenSea.io) that operate on a 24/7/365 basis with secure and easy access for investors to an emerging asset class. Programmable functionality is provided through smart contracts that enable new types of capital formation and trading.
NFTs can also help underfunded companies
A reliable framework has been designed to increase the flow of capital into carbon reduction initiatives, thereby helping underfunded companies and their environmentally beneficial projects.
First Carbon said it has now enhanced its product management and business development competencies which are expected to result in an expedited timeline for the commercialisation of MintCarbon.io. The platform is currently undergoing testing and FCC said it anticipates an official launch of MintCarbon.io during the first quarter of 2022. We will be following progress with this with great interest.
Getting in touch with First Carbon
First Carbon has launched a previously announced MintCarbon.io channel on the Discord social media platform. With the launch of the Discord channel, carbon offset holders, investors and other parties interested in the community will be able to communicate directly with MintCarbon.io representatives. The fostering of communication between FCC and carbon offset holders, corporate carbon credit purchasers, the NFT community, government agencies and other stakeholders is a prime objective of the company.
