Earlier this year, networks began making efforts to mitigate the toll cryptos inflict on the ecosystem; some moved from proof-of-work to the less energy intensive proof-of-stake, some pledged carbon neutrality, and some tokens popped up touting themselves as eco-friendly in some way or another.
On a fundamental level, these tokens mostly operate the same way; a corporation can conduct carbon-emitting business, but then they can buy offset cryptos to negate the negative effects.
Still though, it’s hard to not see carbon offsets as a lucrative investment; so long as companies continue using carbon offset credits to keep themselves at least carbon neutral, there is plenty of money to be made in this sector.
While crypto investors might be caught up on NFTs or the metaverse right now, Cuban’s recent Twitter thread is helping to shift the conversation more toward carbon offsets.
Obviously, the asset class is quite polarizing.
Calling itself the first “truly global” carbon offset, Moss buys carbon credits from reputable environmental projects.
The network holds these credits in custody; when a corporation or an individual purchases MCO2 tokens, they are receiving crypto tokenized versions of these carbon credits.
As of right now, the token is trading at $10, and it continues to move up with speed.
Of course, the more one owns, the more governance they have, which adds an extra incentive to buy tokens on top of the offset.
Klima developers say this aggressive acquisition of carbon credits is a move not only to make the planet greener but also to make the industry more profitable.
Cuban says he wants to expand on his existing efforts within the carbon offset crypto space by participating in the Klima network.
The Toucan Protocol is an interesting new token, and it’s one that’s very closely related to Klima.
Toucan is the protocol that Cuban is referencing when he says he is buying carbon credits and putting them on the blockchain.
The network is creating pools of carbon offsets generated from users to mint BCT, but it doesn’t want the network to stop with simply having an inflationary token.
In Toucan’s perfect world, users will be able to bridge their BCT to other networks, where they could do things like stake the tokens for passive income.
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