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Summary:

Summary:

- Flowcarbon has raised $70 million for its carbon credit platform.

- The company is currently conducting a private sale of tokens, which will be followed by a public sale.

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a16z posted on the official websiteexplainexplain
Reasons to invest in Flowcarbon. The article pointed out that by 2030, the size of the carbon credit market may grow to 50 billion US dollars, and carbon credits on the chain can help achieve this reality.
On-chain carbon credits are an innovative primitive that can be integrated into existing DeFi ecosystems as a composable financial instrument and used creatively by Web3 builders to come up with entirely new ways to incentivize climate positive behavior. Flowcarbon's GNT token is fully backed by the real-time value of off-chain credits and can be used as collateral, protocol treasury assets, stablecoin reserves or offset against on-chain carbon credits.

These use cases can drive potential sources of demand, further incentivizing new supply channels, primarily nature-based solutions and clean energy projects. a16z believes that on-chain carbon credits will become a key part of the financial architecture, driving a zero-carbon future.

"Flowcarbon's mission is to direct billions of dollars to projects that reduce or remove carbon from the atmosphere by creating the first open protocol for tokenized global projects to certify carbon credits in real time," the New York-based company said in a press release. “Through Flowcarbon’s protocol, project developers can immediately access a marketplace of buyers interested in their carbon credits by bringing relevant carbon credits into the blockchain. Buyers can purchase carbon credits directly from project backers Quota."

Flowcarbon has launched the Goddess Nature Token (GNT), a cryptographic token backed by carbon credits on the Celo blockchain. According to Flowcarbon, this token can be used as an offset, sold, used for lending, or redeemed for potential real-world credit.

According to Flowcarbon, GNT is backed by a series of certified carbon offset credits issued by nature-based projects over the past 5 years and traded on the voluntary carbon market, which is expected to be worth $700 million by 2027.

Credits continue to trade until redeemed by end users, meaning individuals or companies can claim carbon offsets for their environmental impact.

According to Reutersto reportto report

, of the $70 million in financing, $32 million came from venture capital firms and $38 million came from the sale of GNT.

People can apply to participate in the pre-sale on the company's website, Nicole Shore, Flowcarbon's director of communications, said in an email.

According to the company's official website, the GNT private sale will end in two days, and people can also register for the upcoming public sale.

"We connect with them through their extensive conservation work, which has been low-key but ongoing over many years, covering millions of hectares," Gibber said in March.expressexpress

, "They have always been good partners."

Flowcarbon was founded by Adam Neumann, his wife Rebekah Neumann, Dana Gibber, Caroline Klatt and Ilan Stern. The company currently has 35 employees.