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Home » News » Equities » Canadian Stocks » Flowcarbon sees important role for MintCarbon.io in future of carbon NFT market

Flowcarbon sees important role for MintCarbon.io in future of carbon NFT market

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The DeepMarkit [TSXV:MKT] management team has just returned to Canada, after a successful trip to France, where they participated in the ReFine Our Future event, hosted by Flowcarbon. This occurred concurrently with the fifth annual Ethereum Community Conference. DeepMarkit was in attendance to share information on the newly launched MintCarbon.io platform.

Regular readers will know that MintCarbon.io is a platform that allows projects that generate carbon credits to mint those credits as NFTs. These can then be traded on third party NFT trading platforms like OpenSea. DeepMarkit relies on its strategic relationships with other organisations in the space that can help with the sourcing and verification of projects. MintCarbon.io has now been tested and audited for secure use.

“We continue to enhance MintCarbon.io, onboard carbon credit NFTs and build both supply-side and demand-side relationships globally,” explained Ranjeet Sundher, CEO of DeepMarkit.

Phil Fogel, CBO at Flowcarbon, who was also at the event in Paris, said the MintCarbon.io platform will improve accessibility for market participants, and play a role in strengthening and growing the carbon trading market.

The global carbon credit is already large, at $850 billion, and set to get bigger yet in the future. The scope for the growth of carbon NFTs is going to be huge. To avoid scams, it is important that carbon NFTs carry independent accreditation from the internationally recognised standards. The NFTs themselves can be very valuable in sourcing capital for projects around the world that are carbon negative.

Blockchain does seem as if it is poised to solve one of the major issues that still exists within the carbon market – namely having a market that is transparent, verifiable and environmentally robust.

Who is Flowcarbon?

Flowcarbon is using blockchain technology to address some of the systematic challenges in the voluntary carbon market, in particular, facilitating early and efficient access to capital for project developers, and creating tokens backed by carbon credits to facility liquidity, accessibility and transparency in the spot market for carbon markets. It recently raised US$70 million from a group of investors that included, but was not limited to, Andreessen Horowitz’s crypto arm – known as a16z, General Catalyst Partners, and Samsung Next.

DeepMarkit also announced this week that it has been successfully uplisted from the OTC Pink Sheet Open Market to the OTCQB Venture Market. Shares will being trading on OTCQB under MKTDF September 6.

The OTCQB is a premier and established marketplace for entrepreneurial and development-stage companies, including ESG focused companies, to trade in the United States. It is recognised by the United States Securities and Exchange Commission as an established public market providing public information for analysis and value of securities.

The OTCQB offers companies the opportunity to build their visibility, expand their liquidity and diversify their shareholder base on an established public market. The listing represents an important step for DeepMarkit in accessing further institutional investment capital from the US. DeepMarkit shares are also available on the Frankfurt Bourse.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

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