Flowcarbon, co-founder of the former WEWORK CEO, reimburses investors after the failed token start

• Flowcarbon has refunded their money to investors after the introduction of Goddess Nature token (GNT) failed.
• The GNT-TOKEN should token CO2 credits, but was faced with market and regulatory problems.
• Flowcarbon has raised $ 70 million in financial resources, but continues to struggle with delays on the carbon market.

Flowcarbon, a blockchain-based emissions certificate platform, which was co-founded by the former WEWORK CEO Adam Neumann, began with the reimbursement to investors after the excited introduction of their “Goddess Nature token” (GNT) has been canceled.

The startup that promised to revolutionize the carbon markets by the tokenization of emission credits, named difficult market conditions and the resistance of carbon registers as the main reasons for the failure of the start.

The failed start of the GNT token

Some investors, including the well -known risk capital company Andreessen Horowitz, were waiting for a year that never came about.

The reimbursements that a spokesman for Flowcarbon confirmed reported reportedly a few weeks ago. According to the speaker, the reimbursements to GNT retailers had been available since last year, but were delayed due to delays in the industry.

In particular, the reimbursement process was necessary that the buyers signed waiver of claims against the company and agree to confidentiality.

The GNT should be covered by emission credits, certificates that use large companies to compensate for their CO2 emissions. The tokenization of these credits would have made a broader participation of investors in the carbon market.

Despite its promising concept, Flowcarbon did not succeed in overcome the technical and official challenges associated with the project.

Despite the setback, flow carbon remains active in the area of climate finance. In May 2022, the startup collected $ 70 million in series-A financing, with large donors such as Andreessen Horowitz, General Catalyst and Samsung Next. While at least $ 38 million of this sum came from the sale of the flow carbon token, it remains unclear whether small investors were also there.

The broader market for energy and environmental tokens currently has a market capitalization of $ 186 million, with PowerLedgers Powr and Energy Web EWT making 94 % of this value.