{"id":37648,"date":"2024-09-12T12:06:21","date_gmt":"2024-09-12T12:06:21","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/flowcarbon-co-founded-by-former-wework-ceo-refunds-investors-after-failed-token-launch\/"},"modified":"2024-09-12T12:06:21","modified_gmt":"2024-09-12T12:06:21","slug":"flowcarbon-co-founded-by-former-wework-ceo-refunds-investors-after-failed-token-launch","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/flowcarbon-co-founded-by-former-wework-ceo-refunds-investors-after-failed-token-launch\/","title":{"rendered":"Flowcarbon, co-founded by former WeWork CEO, refunds investors after failed token launch"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/09\/Flowcarbon-co-founded-by-former-WeWork-CEO-refunds-investors-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/09\/Flowcarbon-co-founded-by-former-WeWork-CEO-refunds-investors-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/09\/Flowcarbon-co-founded-by-former-WeWork-CEO-refunds-investors-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/09\/Flowcarbon-co-founded-by-former-WeWork-CEO-refunds-investors-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Flowcarbon have refunded investors after failing to launch the Goddess Nature Token (GNT).<\/li>\n<li>The GNT token was meant to tokenize carbon credits but faced market and regulatory challenges.<\/li>\n<li>Flowcarbon raised $70M in funding but continues to face delays in the carbon market.<\/li>\n<\/ul>\n<p>Flowcarbon, a blockchain-based carbon credit platform co-founded by former WeWork CEO Adam Neumann, has begun refunding investors after the highly anticipated launch of its \u201cGoddess Nature Token\u201d (GNT) was cancelled.<\/p>\n<p>The startup, which promised to revolutionize carbon markets by tokenizing carbon credits, cited tough market conditions and resistance from carbon registries as the primary reasons behind the failure to launch.<\/p>\n<h2>The failed GNT token launch<\/h2>\n<p>Some investors, including the prominent venture capital firm Andreessen Horowitz, have been waiting over a year for the launch, which never materialized.<\/p>\n<p>The refunds, confirmed by Flowcarbon\u2019s spokesperson reportedly began a few weeks ago. According to the spokesperson, the refunds to retail GNT buyers were ready since last year but have been delayed due to delays in the industry.<\/p>\n<p>Notably, the refund process required purchasers to sign waivers of claims against the company and agree to confidentiality terms.<\/p>\n<p>The GNT was designed to be backed 1:1 with carbon credits, certificates that large corporations use to offset their carbon emissions. Tokenizing these credits would have allowed broader investor participation in the carbon market.<\/p>\n<p>Despite its promising concept, Flowcarbon failed to overcome the technical and regulatory challenges associated with the project.<\/p>\n<p>However, despite the setback, Flowcarbon remains active in the climate finance sector. The startup raised $70 million in Series A funding in May 2022, with major backers like Andreessen Horowitz, General Catalyst, and Samsung NEXT. While at least $38 million of that sum came from the sale of Flowcarbon\u2019s token, it remains unclear if retail investors were included.<\/p>\n<p>The broader market for energy and environment-related tokens currently holds a market cap of $186 million, with Powerledger\u2019s POWR and Energy Web\u2019s EWT accounting for 94% of that value.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/flowcarbon-co-founded-by-former-wework-ceo-refunds-investors-after-failed-token-launch\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Flowcarbon have refunded investors after failing to launch the Goddess Nature Token (GNT). The GNT token was meant to tokenize carbon credits but faced market and regulatory challenges. Flowcarbon raised $70M in funding but continues to face delays in the carbon [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":37649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/37648"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=37648"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/37648\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/37649"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=37648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=37648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=37648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}