The wait is over. Canadian technology company DeepMarkit’s platform, the platform for minting non-fungible carbon offset tokens, has gone live.

The innovative platform allows any carbon offset producer to mint their offsets into non-fungible tokens (NFTs) using blockchain technology which can then be traded on any decentralized exchange such as OpenSea.

DeepMarkit Corp (TSXV: MKT) (OTC: MKTDF) (FRA: DEP). has been laying the groundwork for months not only in terms of testing the based platform, but also ensuring that the carbon offset projects used for the NFT minting process are genuine projects certified by internationally recognized standards agencies .

Carbon offset NFTs open the carbon market to small players

The platform is a step ahead of other voluntary carbon market offerings in that it allows even small carbon offset projects to engage in carbon markets by creating highly customized NFTs.

On the buying side, it works for both small and large buyers. Anyone with a blockchain wallet or account on one of the decentralized exchanges can purchase carbon credits. For smaller buyers, this provides easy access to an otherwise convoluted market, while for larger buyers, NFTs become more attractive when bundled into a larger set of carbon offsets.

The value of the voluntary carbon market topped $1 billion for the first time in November 2021 and is on track to exceed $2 billion this year. By 2030, the market is expected to grow to over $40 billion. DeepMarkit says the introduction of the voluntary carbon market on the blockchain through should help unlock liquidity and transparency, spur market growth, and facilitate the movement of capital to where it is needed most.

Revenue sharing option for carbon offset producers

After several months of hard work and an outstanding team effort, “the platform has been tested, is accredited, and is now ready to integrate compensations and start generating revenue,” said Ranjeet Sundher, Managing Director of DeepMarkit.

A carbon offset represents a ton of greenhouse gas emissions that someone, somewhere has prevented from being released into the atmosphere. Companies in sectors that tend to emit large amounts of carbon, such as oil and gas, can buy carbon credits from companies involved in projects that reduce carbon emissions.

For sustainable businesses that create carbon offsets, there is the added benefit of being part of DeepMarkit’s revenue sharing agreement. Apart from the initial fee for minting the NFT carbon offset, all other transaction fees generated by the NFT-based offset can be split between DeepMarkit and the carbon offset holder each time the token representing the underlying carbon offset is traded on a decentralized exchange. received a Security Assessment Certificate from Quantstamp for issues related to security, code quality, and adherence to specifications and best practices for its smart contracts.

Shares of DeepMarkit are traded on the TSX Venture Exchange, the OTC market in the United States and the Frankfurt Stock Exchange.



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