Single.Earth, which claims to be the world’s first nature-backed MERIT tokens, has secured $7.9m in its seed round.
The investment was backed by EQT Ventures, Icebreaker.vc and Pipedrive founders Ragnar Sass and Martin Henk.
With the capital injection, the company will launch its MERIT tokens marketplace as well as grow its team.
Single.Earth tokenises nature for its ecological value – carbon sequestration, storage and biodiversity – with the aim of keeping ecosystems alive through monetisation.
The company claims to turn the ecological value of nature into digital goods called MERIT tokens. One token is generated on the platform for every 100kg of CO2 captured in biodiverse nature.
Single.Earth works with landowners who conserve and restore forests, wetlands and natural resources, with landowners able to add their land to the platform. The company also combines satellite data, big data analysis and machine learning to build a digital representation of the world’s nature sequesters carbon and holds biodiversity.
Finally, its MERIT tokens are issued to landowners who can sell them through the Single.Earth marketplace.
The pre-sale for the tokens will go live in late summer 2021 and the public sale will begin by the end of 2021.
The tokens will be tradable and their price will grow with the rising demand and rising global carbon prices, it said. Furthermore, the tokens offer a transparent and auditable way to balance CO2 footprints.
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