Flowcarbon Blockchain Carbon Credit Platform Withdraws Token Issuance and Begins Refunding Investors
Publication Time:2024-09-12 14:01:08
Following months of anticipation, Flowcarbon, the blockchain carbon credit platform co-founded by Wework's founder Adam Neumann, announced that it is withdrawing its much-anticipated 'Goddess Nature Token' (GNT) token issuance plan and initiating refunds to investors. It has been reported that some refunds have already been distributed in recent weeks, indicating that Flowcarbon is methodically addressing this intricate situation. More than a year ago, investors including technology-focused venture capital firm Andreessen Horowitz had invested with the expectation of a token issuance, but the ultimate goal was not achieved. Flowcarbon cited market conditions and resistance from carbon registries as the primary reasons for the refunds. Despite this, Flowcarbon remains committed to becoming a leader in the carbon finance sector, and last year began providing refund services to retail GNT buyers according to standard and customary terms.
Blockchain
token issuance
Flowcarbon
Carbon Credits
Investor Refunds