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Radiance Assets Bhd to bring C$20m of new liquidity to emerging carbon credits NFT market

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Radiance Asset Bhd, a Malaysian private equity firm in agriculture, technology and big data solutions, is to commit C$20m in liquidity to the emerging market for carbon credit NFTs. In an agreement with Canada-based DeepMarkit Corp (TSXV: MKT) (OTC: MKTDF) (FRA: DEP)., Radiance said it would provide buy-side support to the tune of C$20m over a two year period for NFTs or other secure tokens minted on DeepMarkit’s MintCarbon.io platform.

Under the terms of the agreement, Radiance has agreed to maintain, in readily available funds, a minimum of C$5,000,000 towards the purchase of carbon credits that have been minted into NFTs or other secure tokens via the MintCarbon.io platform. DeepMarkit said today that the deal will help to benefit customers of MintCarbon.io who hold carbon credit NFTs by enhancing liquidity and improving price discovery.

DeepMarkit said it further expects that the resulting liquidity will accelerate continued onboarding of NFTs or other secure tokens to its MintCarbon.io platform, as well as attract blue-chip clientele and industry partnership opportunities. The provision of liquidity from an institutional participant like Radiance is an important step in establishing the credibility and operability of the market, and will deliver further confidence to sellers of carbon credits.

Benefits to NFT owners and project originators

Based in Malaysia, Radiance is a diverse investment holding company with a focus on innovative and technologically driven businesses in the areas of cleantech, meditech and fintech. Radiance also has a focus on the environment and solutions that better peoples’ lives. Radiance has several classes of funds including a new agritech fund being launched with an asset value of USD 250 million. Radiance is currently a shareholder of DeepMarkit via recent private placements.

“We value the support that Radiance is providing for our platform via the onboarding of projects and investment in resulting NFTs, which we feel will ultimately benefit NFT holders and project originators around the world,” explained Ranjeet Sundher, Interim CEO of DeepMarkit. “This is a formative period for DeepMarkit and our MintCarbon.io platform so we truly appreciate that Radiance continues to champion our growing business.”

How does carbon credit NFT minting work?

DeepMarkit’s wholly owned subsidiary, First Carbon Corp, is a software infrastructure company operating in the tokenisation vertical of the blockchain. FCC’s primary asset, MintCarbon.io, is a web-based, software-as-a-service platform that facilitates the minting of carbon credits into NFTs (based on the ERC-1155 standard) or other secure tokens (based on the ERC-20 standard). MintCarbon.io is currently undergoing testing and FCC anticipates an official launch of the platform in the near future.

The Radiance deal follows DeepMarkit’s prior announcement under which Radiance has agreed to introduce carbon credit projects for onboarding through the platform. Any minting and royalty-based revenues earned by DeepMarkit via Radiance’s referrals will result in a sharing arrangement with Radiance.

Radiance’s obligation under the agreement to purchase NFTs is subject to certain conditions, including, among other things, the availability of NFTs and the acceptability, for investment purposes, of the carbon credits and associated projects underlying the NFTs. Any purchase by Radiance will be completed by arrangement between Radiance and the applicable NFT holder.

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

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