- Democratizing Access to Billion Dollar Voluntary Carbon Credit Offset Market by Minting Credits into Tradeable NFTs.
- CA$4.83 Million Raised via Recent Private Placements, Welcoming Asset Manager Radiance Assets as 9.7% Shareholder.
- Up to C$20,000,000 of Buy-side Liquidity Agreement with Radiance Assets.
- Successful Registration With Leading Third Party Verification Organizations Gold Standard and Verra.
- Completed Three Successful LiveTests and Mints Carbon Credit NFTs via its MintCarbon.io Platform
- Partnered with Low-Emission Network Polygon / Engaged Quantstamp for Security Assessment Services.
- LOI with Japan-based BloomX for Introduction of MintCarbon.io to Asian Market.
MKTDF a company focused on transitioning the global carbon offset market to the more accessible digital economy by minting credits into non-fungible tokens (“NFTs“), is pleased to announce that its wholly owned subsidiary, First Carbon Corp. (“FCC“), has received a Security Assessment Certificate (the “Certificate“) from Quantstamp, Inc. (“Quantstamp“). In order to receive the Certificate, Quantstamp evaluated and passed security-related issues, code quality and adherence to specifications and best practices related to the MintCarbon.io platform’s smart contracts.
DeepMarkit Corp. Logo (CNW Group/DeepMarkit Corp.)
The Company complied with Quantstamp’s iterative audit process to rigorously review and test the MintCarbon.io platform’s blockchain-based smart contracts. Quantstamp performed the security assessment of the platform’s codebase and FCC incorporated feedback and recommendations from Quantstamp to complete the audit and receive the Certificate. All audited smart contracts are now ready to be deployed on the MintCarbon.io platform.
“We are excited to announce the Company’s receipt of the important Security Assessment Certificate from Quantstamp. The Certificate validates our robust focus on enhancing the MintCarbon.io platform’s codebase security. Performing institutional-level diligence further highlights our competitive strategy, which is to ensure that our products and ideas are well designed, offer a high level of utility to stakeholders and are well protected. We continue to enhance the MintCarbon.io platform for users worldwide and build supply-side relationships globally as well,” said Ranjeet Sundher, Chief Executive Officer of DeepMarkit. “The carbon credit market is an excellent example of how Web3 can improve liquidity in traditional markets,” says Quantstamp CEO Richard Ma. “We are proud to provide the security foundation necessary for pragmatic use cases to thrive in the real world,” added Mr. Ma.
Quantstamp is a leader in blockchain security and its mission is to secure the decentralized internet. To date, it has protected over $200 billion in digital asset risk from hackers. Start-ups, foundations and other enterprises work with Quantstamp to protect their innovative ideas and products. Quantstamp’s services include securing Layer 1 blockchains, securing smart contract powered NFT and DeFi applications as well as developing financial primitives for Layer 1 blockchain ecosystems. With Web3 security more critical than ever, developers are encouraged to test and evaluate codes by engaging with an established third-party security auditor.1 Accordingly, DeepMarkit’s engagement of Quantstamp through FCC is aligned with its goal of ensuring the security of the MintCarbon.io platform for users and stakeholders.
DeepMarkit Corp. (TSXV: MKT) (OTC: MKTDF), is a company focused on democratizing access to the voluntary carbon offset market by minting carbon credits into tradeable NFTs. DeepMarkit’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). ERC-1155 tokens allow carbon project owners to better communicate their stories to the public by embedding detailed information such as images, video and project descriptions. The MintCarbon.io platform will act as a portal to allow anyone with an internet connection to access project profiles, and give corporations as well as the general public an opportunity to link to any decentralized exchange in order to buy or sell the token associated to the underlying, verified carbon credit.
DeepMarkit Corp is preparing for a commercial launch of its platform MintCarbon.io, and anticipates generating revenue through minting fee’s and royalty payments that can be triggered when a tokenized carbon credit is traded.
DeepMarkit Recaps Accomplishments from First Half of 2022
The Company also Announces its Support of the Growing Industry Consensus of the Blockchain Being a Key Tool to Ushering the World’s Antiquated Carbon Trading Systems into the Modern Age
On June 29th MKTDF highlighted its most significant developments from the first half of 2022. Additionally, MKTDF observed the growing industry consensus of the blockchain becoming a critical tool for transitioning the world’s antiquated carbon trading systems into the modern age.
The most notable MKTDF highlights this year, subsequent to closing the acquisition of First Carbon Corp., include:
CA$4.83 million was raised via private placements including welcoming Radiance Assets Berhad (“Radiance”) as a significant shareholder of MKTDF;
Achieved successful registration on the Gold Standard and Verra carbon registries;
Completed a definitive collaboration agreement with Radiance for the introduction of international carbon credit projects to the MKTDF MintCarbon.io platform;
Executed an LOI with Top Energy with respect to the minting of clean energy NFTs;
Entered into a $20 million carbon credit Liquidity Support Agreement with Radiance;
Completed three inaugural tests, including the successful minting, listing and retiring of carbon credit NFTs via MintCarbon.io;
Became one of Polygon’s key sustainability partners and engaged Quantstamp for security assessment services; and
Executed of an LOI with Japan-based BloomX for the introduction of MintCarbon.io to the Asian market.
In a recent blog article on Shell Climate Change about carbon emissions and NFTs, several solutions are proposed that could see carbon offset NFTs make carbon-based budgeting more of a reality. Given that carbon markets require a mechanism to track creation, ownership and retirement of emission reduction units, as enabled by an effective trading system, all in order to be optimized, MKTDF management has seen the blockchain as a natural fit for the industry since inception. The MKTDF view is that there is a lot more to carbon credits than simply commoditizing them into tokens. The carbon offset NFTs (ERC-1155) minted on its MintCarbon.io platform allow project owners to embed and share additional information about their projects, including co-benefits, graphics, artwork, videos and project descriptions, thereby adding more meaning and utility as compared to other similar tokens. Via MintCarbon.io, a project’s complete profile and story is expected to be easily viewed, shared and linked to any blockchain-enabled marketplace such as OpenSea or Rarible.
As MKTDF continues to advance MintCarbon.io with the aim of being an industry leader in the minting of carbon credits into NFTs, it is reassuring to see that the industry is advancing in the same direction and that momentum is building to adopt these types of solutions. A broad and collective effort is needed in order for the world to effectively achieve emissions management. Accordingly, MKTDF expects carbon credit NFTs to play a key role in helping both companies and individuals to operate and exist within a carbon-based budget long into the future.
“DeepMarkit has come a long way in only half of a year and I am proud of the team’s accomplishments so far in 2022. Our team has been diligent in successfully addressing industry concerns, such as zombie credits, double counting and the lack of price transparency, all in order to develop and deliver the most robust platform possible. To date, the industry has responded positively to our mission and we are looking forward to updating our shareholders as we prepare for commercial launch,” said Ranjeet Sundher, Chief Executive Officer of MKTDF.
“The concept of minting carbon offset credits into NFTs is becoming a reality and DeepMarkit is emerging as a leader in the space. As the industry evolves, improves and grows, we are pleased to see certain developments occurring to clarify and support a better path forward for project owners, credit holders, platform users and other stakeholders. I would like to thank our shareholders for their strong support thus far and we are excited to see what the future holds for the Company and the industry as a whole,” added Mr. Sundher.
For more information on DeepMarkit Corp. (TSXV: MKT) (OTC: MKTDF) visit: www.deepmarkit.com.
DISCLAIMER: This article is purely for informational purposes and is not a recommendation in any way for buying or selling stocks.