MintCarbon.io is a proprietary platform developed by DeepMarkit Corp (TSXV: MKT, OTC: MKTDF, FRA: DEP) that enables carbon offset holders or project originators to mint their credits into NFTs. Using the lower-emission Polygon network, NFTs minted via MintCarbon.io can be listed for trading on any decentralized NFT exchange such as OpenSea or Rarible.
MintCarbon.io is free to use. Users can browse profiles and click through to their respective listings on OpenSea and/or their platform of choice. Carbon credit holders who have listed their credits via MintCarbon.io are charged a minting fee of up to 10% of the value of their credits, which can be paid in the form of carbon credit NFTs. cash or a combination thereof.
MintCarbon.io was developed with ease-of-use and user functionality in mind. The platform is available to any member of the public who is interested in browsing our inventory of carbon credits. Carbon credit holders can create a profile and mint their carbon credits into NFTs at their leisure.
Blockchain technology has the potential to revolutionize the carbon credit trading industry, by providing a secure and transparent platform for buying and selling credits. Carbon credits are a key tool in the fight against climate change, allowing governments, businesses, and individuals to offset their carbon emissions by purchasing credits from projects that reduce or remove greenhouse gases from the atmosphere. These credits can then be traded on carbon markets, such as the European Union Emissions Trading System (EU ETS) and the Chicago Climate Exchange (CCX). However, the current system of carbon credit trading is often opaque and prone to fraud, with a lack of transparency and traceability making it difficult to verify the authenticity and value of credits. This can discourage potential buyers and undermine the integrity of the market. Blockchain technology offers a solution to these challenges, by providing a decentralized and secure platform for recording and verifying transactions. By using a distributed ledger, all parties involved in a carbon credit trade can see a transparent record of the transaction, ensuring that credits are accurately accounted for and that payments are made in a timely manner. In addition, blockchain technology can help to improve the traceability and provenance of carbon credits, making it easier to track credits from their origin to their final destination. This can help to ensure that credits are not double-counted or misused, and that they are only used to offset genuine emissions reductions. Furthermore, blockchain technology can enable the development of smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. These contracts can automate the process of carbon credit trading, reducing the need for manual intermediaries and streamlining the process of buying and selling credits. Overall, the use of blockchain technology in carbon credit trading has the potential to increase efficiency, reduce costs, and improve the integrity and transparency of the market. This could help to drive greater adoption of carbon credits as a tool for combating climate change, and contribute to the transition to a low-carbon economy.
MintCarbon.io is easily accessible by anyone looking to purchase carbon credit NFTs and for project developers and/or brokers wanting to mint their credits into NFTs. By creating a marketplace-like environment, users are able to browse, sort and filter the projects available on our platform. For carbon credit holders, creating a profile and populating it with detailed information about your project enables a global audience to engage with your project and potentially purchase your credits through decentralized exchanges such as OpenSea. Our view is that a synergistic effect is created by a centralized platform that showcases the highest quality projects benefiting the environment.
MintCarbon.io was designed and built specifically to support and promote reliability and transparency in the carbon credit sector. The user interface allows project owners and originators to tell their story, share artwork, and communicate directly with stakeholders. Given that transparency, integrity and reliability are crucial for the growth of the carbon credit sector, MintCarbon.io ensures that every project listed on its site is linked to a third-party verified carbon credit. This prevents it from being dual-listed and/or traded elsewhere. Our ‘white glove’ onboarding service roots out fraudulent intent, double-counting and zombie credits (retired carbon credits), while ensuring that only the highest quality carbon credits become minted into NFTs.
Yes. MintCarbon.io wants to ensure that all credits that are minted via the platform are of high quality and are third-party verified. Please reach out to [email protected] if you require further guidance in this area.
All credits issued from any of the major carbon standards (CAR, VCS, ACR, GS) will have undergone a robust verification process by an ISO-accredited third party verifier. These credits are also all tracked on registries to ensure that emissions reductions are not double counted. Credits from standards not included above should be scrutinized carefully to confirm that a) they have been verified, b) are the result of a real project, c) have not been sold or retired previously, and d) are otherwise legitimate.
Carbon credit pricing, particularly in the voluntary markets, varies widely with several factors determining the price of a specific carbon credit. We expect that NFTs minted via MintCarbon.io to be sold for a price in a similar range to equivalent carbon credits trading on the open market. However, due to the unique nature of NFTs minted via MintCarbon.io, which include artwork, a profile page and the ability to communicate directly with stakeholders, the potential exists for NFTs minted via MintCarbon.io to trade above the average market price.
MintCarbon.io is currently aligned with Verra and Gold Standard, which are two of the most popular and reputable registries available in the world. We are working diligently to bring more registries into our ecosystem.
The MintCarbon.io website acts as a searchable, filterable marketplace (or directory) where users can browse NFTs listed by project. The platform is designed so that each and every NFT has a profile page including but not limited to a detailed description of the source project, artwork, and a link to the exchange where the underlying NFT is listed for trading.
Once we’ve determined that your carbon credits have been verified by a third-party registry, we will work with the registry to have your credits transferred into the Clean Carbon Foundation where they are held in custody until the minting process is complete. As long as your credits are converted into NFTs, they cannot be sold and/or traded off of the blockchain.
Yes, companies may purchase NFTs minted by MintCarbon and retire them on chain through MintCarbon.io or claim the credits and retire them on the registry.
Mint Carbon uses the ERC-1155 token standard to mint credits to the Polygon blockchain. Project meta data (offset type, location, vintage etc.) can be captured on the blockchain within the token along with bespoke imagery to better convey that project’s goals and/or outcomes. The ERC-1155 standard allows for multiple instances of the same NFT so that projects can fractionalize their issuance to represent single CO2e units of that initiative.