The Company’s Proprietary Platform Facilitates a Transition Allowing Individuals and Families to Offset Their Annual Carbon Footprints and Participate in the Net Zero Economy
CALGARY, AB, July 19, 2022 – 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 announce that its MintCarbon.io platform (the “Platform“) can help facilitate individuals and families offsetting their annual carbon footprints to become carbon neutral. With Canada having committed to reducing greenhouse gas emissions, particularly carbon, by 30% by the year 2030, it is critical that innovative solutions like MintCarbon.io exist so that the peoples’ carbon footprint can be materially reduced.1
Canadians are known to emit about 14.2 tonnes of carbon per person per year.2 Using the average current cost of $15 per tonne of carbon in the secondary market, the average Canadian could offset their annual carbon footprint for $213. For families, with an average size of 2.9 people3 many Canadian households are responsible for emitting over 30 tonnes of carbon each year. By extension, the cost for a Canadian family to become carbon neutral is also fairly reasonable. By developing MintCarbon.io, DeepMarkit is working to help combat carbon emissions by making it easier for households and businesses to purchase and retire NFT-based carbon credits minted on MintCarbon.io, and to be part of the net-zero economy as a result.
MintCarbon.io is a web-based ecosystem that facilitates the minting of carbon credits into NFTs, among other features. As background information, the NFT minting process for an offset credit is initiated by confirming and authenticating the credit on a carbon project registry. Upon verifying the offset credit’s authenticity, the user is then approved to mint it into a verified carbon credit NFT through the MintCarbon.io platform. Once minted, the user can hold, sell or retire their NFT on a third-party platform, all scenarios of which have been successfully tested and audited.
“Developing the MintCarbon.io platform so that project owners and carbon offset holders can interact more effectively with the people and companies looking purchase and retire carbon credits is our mission. The Platform is part of a broader solution to help reduce to the world’s carbon footprint by making it clearer and easier for people to think about emissions and their impact on the planet,” said Ranjeet Sundher, Chief Executive Officer of DeepMarkit. “The concept of minting carbon credits into NFTs is becoming a reality and DeepMarkit is proud to be making it happen. We are working hard to optimize the Platform, onboard a larger number of credits, integrate feedback and add features to create more value for our stakeholders,” added Mr. Sundher.
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:
Ranjeet Sundher, CEO