DeepMarkit: Democratizing Access to the Blockchain for the Carbon Credit Market
This early mover is unlocking growth in the voluntary carbon market
Summary
- The Market Opportunity
- DeepMarkit’s Solution: MintCarbon.io
- How DeepMarkit Makes Money
As stated above, the push to achieve net-zero by 2050 is a global effort. It’s receiving strong support from institutional investors and demand is beginning to surge.
The total value of the global carbon offset market hit a record $261B in 2020 after growing 5x from 2017. And there’s a ton of growth in store:
“ESG investing to reach $1 trillion by 2030”
– BlackRock
“Carbon offset market may need to grow fiftyfold to meet 2050 net-zero emission goals”
– Bank of America
“Credit Suisse estimates that global carbon markets could grow 15-fold through to 2030 and could see growth of up to 100-fold by 2050”
– Credit Suisse
Currently, the voluntary carbon market represents only 0.2% of global greenhouse emissions. With a growing number of companies falling in line with net-zero goals, the demand for carbon credits is forecast to increase significantly.
This increase is expected to drive current prices of $3-$5/ton of CO2 to $20-50/ton of CO2 by 2030, and potentially $100/ton of CO2 by 2050!
The Problem: An Inaccessible, Antiquated Market
As I mentioned, the current voluntary carbon market still only represents a tiny fraction of the emissions that need offsetting.
That’s because the current over-the-counter system is deeply antiquated.
Despite the increasing demand for broadly available carbon credits, markets remain highly inaccessible, fragmented, and opaque.
There’s also no existing liquid, large-scale secondary market available to trade credits.
All these factors work to hamper both supply and demand in the market as it prevents it from scaling.
DeepMarkit’s Solution: MintCarbon.io
DeepMarkit is leveraging the blockchain to make tracking and trading carbon credits simple and secure.
The game-changer is its secret weapon, MintCarbon: a proprietary web-based, software-as-a-service (SaaS) platform that enables turnkey tokenization of carbon credits.
Think of MintCarbon as the global investor’s “on-ramp” to the blockchain and the carbon credit market.
Their process is being designed to be very simple:
Carbon credit holder links their MintCarbon account to their NFT wallet application
Holder uploads specific details of their carbon credit asset
The carbon credit is minted onto the public blockchain ledger within minutes, ready for listing on any decentralized exchange (like OpenSea)
By leveraging the power of NFTs, an inaccessible, fragmented, opaque, and inefficient market becomes transparent, easy, secure, flexible, liquid, permissionless, and 24/7/365!
Plus, it unlocks the power to SCALE.
MintCarbon.io is powered by the Polygon network: a low-emissions, proof-of-stake, consensus blockchain that connects to Ethereum-compatible networks.
This will allow users to track, trade, and consume/burn credits in a simple, secure, and highly accessible way right from their personal dashboards.
How DeepMarkit Will Make Money
DeepMarkit will collect a 10% fee upfront upon minting of each carbon credit NFT.
After that, a smart contract ensures the collection of an automatic royalty up to 10% in perpetuity on any future re-sale of the asset.
These fees will be collected in either Ethereum or carbon credit NFTs (or a combination) which gives investors exposure to two rapidly growing asset classes.
The revenues generated from the secondary sales of carbon credit NFTs will be split with the initial credit holders (users who first minted) to provide incentives to credit holders to convert their credits into tradeable NFTs, fuelling growth.
As the voluntary carbon credit market grows and the price of offsets increases (as outlined above), these perpetual royalties will increase proportionally, providing a steady stream of (growing) revenue for investors.
Bottom Line
Even as voluntary carbon credits quickly become an increasingly obvious critical tool in the global push to net-zero–and despite the broad availability of credits–trading remains highly inaccessible, opaque, and inefficient.
These are not only hurting the market’s ability to scale, but it’s having a direct adverse effect on the carbon credit market’s efficacy as a tool to lower emissions.
DeepMarkit will provide a new level of transparency, standardization, and accountability that will provide confidence to the markets and unlock desperately needed growth.
Bottom line: DeepMarkit is a early mover with a proprietary advantage and a business model driven by a perpetual revenue stream in a market primed for exponential growth.
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