Nori launches new integration, expanding Web3 access to carbon removal
Nori launches new integration, expanding Web3 access to carbon removal
SEATTLE--(BUSINESS WIRE)--Nori, the leading end-to-end marketplace for scalable carbon removal, today announced the launch of a public Web3 platform that makes carbon removal purchases by companies and their customers simple and nearly-instantaneous.
With this launch, Nori’s carbon removal marketplace migrates to Polygon and accepts USDC. It will support companies and individuals that buy Nori Removal Tonnes (NRTs) and the regenerative farmers who supply these NRTs with full transparency for verified carbon removal transactions.
This custom-built Nori platform provides Web3 companies with a variety of seamless ways to add carbon removal to their dApps. For example, a climate-conscious NFT marketplace could directly integrate the purchase of NRTs into their checkout process, offering buyers an option to remove carbon and support regenerative farming with a single click. Suppliers of the purchased NRTs would be notified and paid immediately after their NRTs have been purchased and retired.
Noir’s blockchain-powered marketplace benefits farmers by giving them true ownership of their carbon removal offsets, enabling safer and faster payouts, and ensuring fair treatment within our marketplace.
● Once NRTs are issued, they live in the suppliers’ wallets as NFTs until they’re sold, meaning the suppliers truly own the carbon they’ve removed until they sell it.
● When a purchase is made, the suppliers’ NRTs are swapped for USDC, and they get paid immediately for every sale no matter how large or small. These are foundational steps toward suppliers achieving fully transparent real-time tracking of the NRTs they generate.
● Additionally, Nori has updated their NRT allocation algorithm to give all suppliers a fair shot at selling regardless of their size. This benefits Nori suppliers equally with a consistently strong demand for NRTs on the Nori marketplace.
Nori’s entire registry of carbon removals and purchases will be publicly accessible via the Polygon blockchain. Buyers are able to show-off their purchases as NFTs in their favorite metaverse; scientists can examine the source and methodology of the underlying carbon; dApp developers can create innovative ways to bring climate action to their audience.
“We’re excited about Nori’s on-chain integration, as their smart contract deployment provides direct payment to farmers removing carbon from the atmosphere through improved, regenerative agricultural practices with every NRT transaction. It also introduces clearer provenance and credit origination for buyers, which is important to our ecosystem in an increasingly scrutinized carbon market,” said Stefan Renton, Sustainability Lead at Polygon Labs.
Additional integration launch partners include SuperLayer, a Web3 investment and venture studio, and ClimateCandy, a Web3 game for climate action available in Google Play and Apple App Stores. Other Nori partners include The Sandbox, which has taken action on NFT CO2 emissions, and Unstoppable Domains, an innovative Web3 domain creator, where Nori is featured in their Token Gallery.
Nori is the first crypto-native company bringing carbon removal origination to the Web3 community. All carbon removals are third-party verified, tracked natively on-chain, and warranty-backed.
“This is the realization of the next step in our roadmap. At a super-micro level this powers (re)moving CO2 molecules in the atmosphere into biomass in the soil via decentralized infrastructure,” said Paul Gambill, Nori’s CEO and cofounder. “We can’t wait to see the innovative ways climate conscious brands bring this integration to life on behalf of their customers.”
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About Nori
Nori’s mission is to reverse climate change by developing market-driven solutions to remove the 1.5 trillion metric tonnes of legacy carbon dioxide from the atmosphere.
Since its founding in 2017, Nori has raised $4 million in seed financing led by Placeholder and a $7 million Series A led by M13. Nori’s strategic investors include Toyota Ventures, Cargill, Techstars, and The Nature Conservancy.
