DeepMarkit secures carbon credits for Phase 2 testing of MintCarbon.io platform and NFT market verification IRW-PRESS: DeepMarkit Corp
– The MintCarbon.io platform is being tested with more emission certificates than has been implemented so far
Post-NFT foreign exchange rates and secondary market transactions are observed as part of the market review validation
DeepMarkit and Climate Carbon have signed a Memorandum of Understanding to scale up the growth of voluntary minted carbon credits on the MintCarbon.io platform.
Calgary (Canada) May 31, 2022. DeepMarkit Corp. (or Company) (TSX-V: MKT, OTC: MKTDF, FSE: DEP), a company focused on transforming the global carbon offset market into an accessible digital economy through the issuance of non-fungible token certificates (NFTs) Mintet is pleased to announce Its signing of a non-binding Memorandum of Understanding (“MOU”) with Climate Carbon, a Vancouver-based start-up broker and private carbon credit trader, under which the two companies agree to work together to scale the growth of voluntary carbon credits extracted from the MintCarbon.io platform.
Climate Carbon and DeepMarkit will sign an agreement whereby Climate Carbon will broker carbon projects for NFTs Instrument (ERC-1155) and/or other carbon credit tokens (ERC-20) on the MintCarbon.io platform. By creating NFTs and tokens, Climate Carbon will retain ownership of the NFTs and tokens. All carbon projects that will be subject to the company’s carbon brokers acceptance by the company.
DeepMarkit and Climate Carbon will agree and sign a final two-year agreement in the near future based on the essential terms set forth herein. The company and Climate Carbon will work together to conduct a phase two review of the MintCarbon.io platform and the NFT Market Exploration and Validation Program. A total of 850 active carbon credits from six Verra-approved projects from Climate Carbon have been transferred to the Trusteeship Account on DeepMarkit and will be mined in the NFTs. These projects include:
– Suprei hydroelectric project
Sinai hydroelectric power station
– O’Neill Guatemala Ospantan stoves
Forest management to reduce deforestation and forest degradation in the Shipibo Conibo and Cacataibo indigenous communities in the Ucayali region
– Grid-attached cluster wind power project in Gujarat led by Enercon (India) Ltd.
– REDD+ project for the Caribbean Guatemala: Coastal Conservation.
The mission of Climate Carbon, founded by Danny Takhar, is to meet the dual challenge of climate change and environmental degradation by implementing effective and efficient solutions, under the motto: Do Good, Feel Good!. It strives to combat climate change and improve people’s lives by aiming to make the world a carbon neutral place, which means that everyone takes responsibility for their own carbon footprint. To achieve this, Climate Carbon funds, implements and manages carbon reduction and offset projects around the world to help individuals and organizations take responsibility for their carbon footprint. For more information on Climate Carbon, visit the Climate Carbon website at the following URL: https://climatecarbon.com/.
Climate Carbon recognizes the need to expand access to carbon credits if the world is to achieve carbon neutrality. Danny Takhar, founder and COO of Climate Carbon, said that introducing certificates to the blockchain is a reasonable step in the right direction to diversify the carbon markets.
The DeepMarkit platform, MintCarbon.io, is designed to ensure that coding is based on active carbon credits NFTs. So far, our tests have shown that the MintCarbon.io platform is solid and scalable. However, it is expected that expanding our testing and validation efforts to this second phase with Climate Carbon will provide further evidence of the effectiveness of DeepMarkit’s innovation. Our company has noticed interest from customers all over the world using the platform. We look forward to completing this next phase of testing and bringing the platform to market,” added Ranjit Sundhir, Interim CEO of DeepMarkit.
The NFT mining process for obtaining carbon credit begins with a carbon credit validation and certification in the Carbon Project Registry. After confirming the validity of the certificate, the user is given approval to extract the emission certificate into a verified NFT via the MintCarbon.io platform. After the coin is minted, the user can keep, sell or withdraw the NFT emissions allowance. The holder of the active emission allowance can withdraw it via a refund agreement on the MintCarbon.io platform. Redemption happens seamlessly on both the blockchain and the authentication registry.
About Deep Market
DeepMarkit Corp. is a company focused on democratizing access to the voluntary carbon offset market by minting credits in NFTs. The company’s common stock is traded on the TSX Venture Exchange under the stock symbol MKT. DeepMarkit’s wholly owned subsidiary, First Carbon Corp. (FCC) is a software infrastructure company working on the blockchain vertical token sector. The main asset of the FCC, MintCarbon.io, is a web-based SaaS platform that allows carbon credits to be poured into NFTs (as per the ERC-1155 standard) or other secure tokens (as per the ERC-20 standard). MintCarbon.io is currently in the testing phase and the FCC expects to officially launch the platform in the near future.
Ranjit Sunder, Interim CEO
For more information please contact:
Ranjit Sunder, Interim CEO
The TSX Venture Exchange and its Regulatory Bodies (referred to in the TSX Venture Exchange Policies as Regulatory Service Providers) assume no responsibility for the adequacy or accuracy of this press release.
Statements in this press release may contain forward-looking information. All statements in this press release that are not historical facts may be considered forward-looking statements, including statements regarding the following: the MintCarbon.io platform will be tested with more carbon credits than ever before; that DeepMarkit and Climate Carbon will continue to prepare and implement a definitive agreement in the foreseeable future; And data related to the company’s business and company plans. The reader is cautioned that the assumptions used in preparing the forward-looking information may be incorrect. Events or circumstances may cause actual results to differ due to many known and unknown risks, uncertainties and other factors, many of which are beyond DeepMarkit’s control. Various factors could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward-looking information.
The forward-looking statements contained in this press release are made as of the date of this press release, and DeepMarkit does not undertake any obligation to update or revise any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, unless: required by securities law this.
Source: DEEPMARKIT CORP.
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AXC0247 2022-05-31 / 14:03
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