DeepMarkit Announces Commercial Launch of Proprietary Carbon Offset Minting Platform MintCarbon.io
· MintCarbon.io was Developed to Secure the Transition of Voluntary Carbon Markets to the Blockchain
· Voluntary Carbon Markets are Projected to Reach US$2 Billion by 2022 and US$40 Billion by 2030
· The Platform Includes a Recurring Revenue Model that Rewards DeepMarkit, Project Owners and Carbon Offset Holders
Calgary, Alberta – August 9, 2022 / CNW / – DeepMarkit Corp., (“DeepMarkit” or the “Company”) (TSXV: MKT) (OTC: MKTDF) (FRA: DEP), a company focused on transitioning the global carbon offset market to the more accessible digital economy by minting carbon offsets onto the blockchain, is pleased to announce the commercial launch of its proprietary MintCarbon.io platform (the “Platform”). The Platform was developed by DeepMarkit to support and promote reliability and transparency in the rapidly growing voluntary carbon market (the “VCM”) while enabling users to easily connect their digital wallets to onboard, purchase, hold, or retire carbon offsets using the Blockchain.
The VCM surpassed a valuation of $1 billion for the first time in November 2021. It is on course to surpass $2 billion this year and is predicted to reach $40 billion by 2030.1 Bringing the VCM onto the blockchain via MintCarbon.io is expected to help unlock liquidity and transparency, thereby driving market growth and facilitating the movement of capital to where it is needed the most.
“After several months of hard work and an exceptional team effort, I am proud to announce the official launch of our proprietary MintCarbon.io platform. I would like to sincerely thank the DeepMarkit team as well as our technical consultants, service providers, advisors and other stakeholders who have played an important part in helping us reach this critical milestone,” said Ranjeet Sundher, Chief Executive Officer of DeepMarkit. “The Platform has been tested, is accredited, and is now ready to onboard offsets and commence generating revenue for the Company,” added Mr. Sundher.
Regarding MintCarbon.io’s unique revenue model, it was designed to not only accrue revenue for the Company but also to reward carbon offset owners through a sharing arrangement. For example, once a minting fee is collected by the Company upon the initial onboarding of a carbon offset, all subsequent transaction fees earned by the NFT-based offset can be split between DeepMarkit and the carbon offset holder each time the token representing the underlying carbon offset is traded on any decentralized exchange in the world.
Given that transparency, integrity and reliability are crucial for the growth of the carbon offset sector, MintCarbon.io further ensures that every project listed is linked to a third-party verified carbon offset. The Company is working closely with Gold Standard and Verra to ensure only the highest quality, authentic projects are onboarded. Additionally, the Platform has received a Security Assessment Certificate from Quantstamp, which evaluated the Platform for security-related issues, code quality, and adherence to specifications and best practices for its smart contracts.
DeepMarkit Corp. is a company focused on democratizing access to the voluntary carbon offset market by minting offsets into NFTs. Its common shares are listed on the TSX Venture Exchange under the “MKT” stock symbol, on the OTC market in the United States under the “MKTDF” symbol and on the Frankfurt Stock Exchange under the “DEP” symbol. DeepMarkit Corp. is a software infrastructure company operating in the tokenization vertical of the blockchain. Its primary asset, MintCarbon.io, is a web-based platform that facilitates the minting of carbon offsets into NFTs (based on the ERC-1155 standard) or other secure tokens (based on the ERC-20 standard).
On behalf of:
Ranjeet Sundher, CEO
For more information, please contact:
Ranjeet Sundher, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Statements in this news release may contain forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements, including statements relating to the Company's business and corporate plans including, without limitation, earning revenue through the completion of minting transactions and from sharing transaction fees. The reader is cautioned that assumptions used in the preparation of any forward- looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of DeepMarkit, which include regulatory risks, including risks relating to the classification of tokens minted on the Platform as securities, risks relating to the verification of carbon credits and associated projects, risks relating to the NFT and Blockchain sectors, and other risks generally applicable to early stage technology companies. Additional information regarding risks and uncertainties of the Company's business are contained under the heading "Business Risks and Uncertainties" in the Company's MD&A in respect of the period ended March 31, 2022 and the Company's other public filings which are available under the Company's profile on SEDAR at www.sedar.com. Various factors can cause the actual results to differ materially from those in forward-looking statements. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release and DeepMarkit does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.
1. “Sustainablity Leaders Guide to VCMs”, Sylvera, accessed on August 6, 2022, https://www.sylvera.com/resources/sustainability-leaders-guide-to-vcms
SOURCE: DEEPMARKIT CORP.