Ask yourself this question; would you invest your hard-earned money in a company that plans on “pioneering climate technology that will bring carbon credits onto the blockchain through a carbon-backed token? Oh, one other thing, the face of that company is a businessman who has a proven track record of losing billions of investors’ dollars and ran one company Into the ground partly because of poor decision making.
Even if you’d run from that opportunity as fast as your legs could carry you, that businessman, WeWork founder, and former CEO Adam Neumann has already raised $70 million for his new venture. It’s a Web3 climate venture that goes by the name of Flowcarbon. The investment dollars have flowed in from a venture round and the sale of a cryptocurrency called “Goddess nature Token.”
Here’s what the website for the new company says under their “About” tab.
“Flowcarbon operates at the intersection of the voluntary carbon market and Web3, leveraging blockchain to scale climate change solutions.”
Here’s how Vice simplified that explanation. Flowcarbon allows “nature-based” projects to sell carbon credits to companies that want to lower their carbon footprint. It will then enable those tokenized credits to be traded on cryptocurrency exchanges.
Essentially, Neumann and his partners are doing this on the blockchain to make it easier to raise money for climate projects.
Neumann walked away from WeWork with a golden parachute in the high nine-figure range. 2,400 employees of WeWork walked away with nothing after being let go when new management tried to fix the mess Neumann created.