NFT minting specialist DeepMarkit (TSXV:MKT) is charting a course that could serve as a useful road map for many other companies in the NFT and wider asset management space. It has committed to achieving net negative carbon emissions by the end of this year.
This sounds like a pretty ambitious goal for most companies, but consider that DeepMarkit is in the business of helping projects that produce carbon credits to mint their credits into NFTs. The commitment to becoming net negative means that DeepMarkit will eventually offset more carbon than it emits on an annual basis. This is important for businesses that want to serve as go to hubs for electronic trading of next economy assets.
How do you get to net negative?
In the case of DeepMarkit, the company says it will reduce emissions through operational efficiencies and by retiring carbon offsets. It expects to acquire carbon offsets by receiving them as payment for NFT minting services or purchasing a necessary amount of of carbon offsets NFTs that it mints on its own platform, MintCarbon.io. It will buy these in the open market, based on certain assumption-driven calculations and obviously subject to applicable regulations.
The company has openly stated that if it really wants to become a tool for those selling carbon credits into the market, it has to go beyond carbon neutral, and become carbon negative.
“To create real impact in the global fight against climate change, businesses need to lead the way and push beyond the status quo,” said Ranjeet Sundher, interim CEO of DeepMarkit. “By pursuing carbon negativity, we will champion the sustainability goals of our customers and partners and work to leave the world better than we found it. Our team is committed to going beyond just providing global access to carbon offsets by also being an active participant in the market for our NFTs.”
What is MintCarbon.io?
The MintCarbon.io platform allows project developers or holders of existing carbon credits to gain access to the blockchain by minting carbon credits into NFTs. Each registry verified NFT purchased and retired by a buyer from an online NFT marketplace, such as Opensea.io, represents the offset of one tonne of carbon dioxide from the atmosphere.
Sundher said his team is committed to going beyond just providing global access to carbon offsets by also being an active participant in the market for its own NFTs. “We want to show our users, clients, partners and shareholders that we are committed to investing in the future of our platform as well as the future of our planet,” he explained.
The achievement of DeepMarkit’s commitment to becoming net negative is subject to DeepMarkit being able to obtain a sufficient amount of carbon credits, either through completing NFT minting transactions, or by purchasing available carbon credit NFTs on the open market. The company is currently busily acquiring the necessary third party verifications and engaging with the wider carbon offsets industry.
