The Company also Announces its Support of
the Growing Industry Consensus of the Blockchain Being a Key Tool
to Ushering the World's Antiquated Carbon Trading Systems into the
Modern Age
CALGARY,
AB, June 29, 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 credits
into non-fungible tokens ("NFTs"), is pleased to highlight
its most significant developments from the first half of 2022.
Additionally, the Company is pleased to observe the growing
industry consensus of the blockchain becoming a critical tool for
transitioning the world's antiquated carbon trading systems into
the modern age.
DeepMarkit's most notable highlights this year, subsequent to
closing the acquisition of First Carbon Corp., include:
- CA$4.83 million raised via private placements including
welcoming Radiance Assets Berhad ("Radiance") as a
significant shareholder of the Company;
- Achieved successful registration on the Gold Standard and Verra
carbon registries;
- Completed a definitive collaboration agreement with Radiance
for the introduction of international carbon credit projects to the
Company's MintCarbon.io platform;
- Executed an LOI with Top Energy with respect to the minting of
clean energy NFTs;
- Entered into a $20 million carbon
credit Liquidity Support Agreement with Radiance;
- Completed three inaugural tests, including the successful
minting, listing and retiring of carbon credit NFTs via
MintCarbon.io;
- Became one of Polygon's key sustainability partners and engaged
Quantstamp for security assessment services; and
- Executed of an LOI with Japan-based BloomX for the introduction of
MintCarbon.io to the Asian market.
In a recent blog article on Shell Climate Change about carbon
emissions and NFTs, several solutions are proposed that could see
carbon offset NFTs make carbon-based budgeting more of a
reality.1 Given that carbon markets require a mechanism
to track creation, ownership and retirement of emission reduction
units, as enabled by an effective trading system, all in order to
be optimized, Company management has seen the blockchain as a
natural fit for the industry since inception. DeepMarkit's view is
that there is a lot more to carbon credits than simply
commoditizing them into tokens. The carbon offset NFTs (ERC-1155)
minted on its MintCarbon.io platform allow project owners to embed
and share additional information about their projects, including
co-benefits, graphics, artwork, videos and project descriptions,
thereby adding more meaning and utility as compared to other
similar tokens. Via MintCarbon.io, a project's complete profile and
story is expected to be easily viewed, shared and linked to any
blockchain-enabled marketplace such as OpenSea or Rarible.
As DeepMarkit continues to advance MintCarbon.io with the aim of
being an industry leader in the minting of carbon credits into
NFTs, it is reassuring to see that the industry is advancing in the
same direction and that momentum is building to adopt these types
of solutions. A broad and collective effort is needed in order for
the world to effectively achieve emissions management.1
Accordingly, DeepMarkit expects carbon credit NFTs to play a key
role in helping both companies and individuals to operate and exist
within a carbon-based budget long into the future.
Management
Commentary
"DeepMarkit has come a long way in only half of a year and I am
proud of the team's accomplishments so far in 2022. Our team has
been diligent in successfully addressing industry concerns, such as
zombie credits, double counting and the lack of price transparency,
all in order to develop and deliver the most robust platform
possible. To date, the industry has responded positively to our
mission and we are looking forward to updating our shareholders as
we prepare for commercial launch," said Ranjeet Sundher, Chief Executive Officer of
DeepMarkit.
"The concept of minting carbon offset credits into NFTs is
becoming a reality and DeepMarkit is emerging as a leader in the
space. As the industry evolves, improves and grows, we are pleased
to see certain developments occurring to clarify and support a
better path forward for project owners, credit holders, platform
users and other stakeholders. I would like to thank our
shareholders for their strong support thus far and we are excited
to see what the future holds for the Company and the industry as a
whole," added Mr. Sundher.
ABOUT DEEPMARKIT
DeepMarkit Corp. is a company focused on democratizing access to
the voluntary carbon offset market by minting credits into NFTs.
Its common shares are listed on the TSX Venture Exchange under the
"MKT" stock symbol. DeepMarkit's wholly owned subsidiary, First
Carbon Corp. ("FCC"), is a software infrastructure company
operating in the tokenization vertical of the blockchain. FCC's
primary asset, MintCarbon.io, is a web-based, software-as-a-service
platform that facilitates the minting of carbon credits into NFTs
(based on the ERC-1155 standard) or other secure tokens (based on
the ERC-20 standard). MintCarbon.io is currently undergoing testing
and FCC anticipates an official launch of the platform in the near
future.
On behalf of:
DEEPMARKIT CORP.
"Ranjeet Sundher"
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.
CAUTIONARY STATEMENT
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 which include, without
limitation, statements regarding the anticipated timing for
commercial launch of the platform. 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. The reader is cautioned not to place undue
reliance on any forward-looking information.
The forward-looking statements contained in this press 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.
ENDNOTES:
- "Blockchain, carbon emissions and NFTs", Shell Climate
Change, last updated May
2022,
https://blogs.shell.com/2022/05/16/blockchain-carbon-emissions-and-nfts/?amp=1
SOURCE DeepMarkit Corp.