Blockchain carbon marketplace, JustCarbon, whose token marketplace opened this week, has also announced that digital collectables creator and curator, NFT Design Works, will become a partner, so that Non-Fungible Tokens (NFTs) will benefit from carbon offsetting.
Co-founded by former world leading cricketer, Daniel Vettori, the partnership will ensure that current NFT Design Works, NFT clients benefit from a transparent, effective and accountable nature-based carbon marketplace.
What is JustCarbon?
JustCarbon is a blockchain-based carbon marketplace, where carbon emissions can be mitigated with the purchase of JustCarbon Removal tokens (JCR). One JCR token equates to exactly one tonne of carbon removed from the atmosphere, verified to the highest international standards. Buyers, consumers or wholesalers can retire, sell or purchase more JCRs, and most importantly offset their historic or future carbon impact.
The platform is administered by the JustCarbon DAO, which is operated and controlled by the JustCarbon Governance token (JCG) holders, tokens being distributed over a 10 year period primarily for participation and use of the system.
Carbon credits are a vital tool to finance sequestration of the world’s unavoidable emissions by safeguarding our existing forests and planting new ones while funding new projects supporting recent developments in carbon sequestration. JustCarbon is designed to make it simpler and more efficient for both buyers and sellers of credits from these projects.
Terry Daly, Head of Commercialisation at NFTDesign.Works said: “Carbon offsets are a necessity for everything we do. JustCarbon has created a highly sophisticated carbon marketplace that enables all of our projects to bake nature based carbon sequestration into our products and communities”.
Nature-based projects
Over time, the partnership will be bringing to market NFTs that will seamlessly connect crypto communities with JustCarbon’s robustly designed and measured, nature-based projects that add new sequestration capacity to the planet’s ecosystems.
In 2021, NFTs’ market value was $41 billion, with the most significant sale of $69million of NFT artwork by the auction house, Christie’s. Their popularity has grown because they provide proof of ownership for physical and digital items that are attractive to buyers.
Gavin Anderson, co-founder at JustCarbon, explained: “The market for carbon credits remains fragmented, inefficient and often inequitable. The JustCarbon marketplace has been developed to ensure that climate action is transparent and accessible whilst being environmentally sound. We are thrilled to align with NFTDesign.Works to seamlessly integrate carbon offsetting that ensures climate action projects remain funded in the future, and with NFTs popularity soaring this would be a huge step forward in funding climate change projects.”
Individuals and businesses can purchase JCR’s on The Crypto Climate Exchange and Uniswap plus other selected exchanges listed on the JustCarbon website.
