Solid World DAO Raises $2.5 Million in a Round Led by Yolo, Greycroft, Awesome People Ventures, Allegory, Possible Ventures, Draft VC, and Basecamp Fund
Summary
Its tough to start a new carbon project right now simply because its difficult to find financing. It is entirely rethinking the mechanics of the current forward carbon market with the power of blockchain and web3 technologies. Using Blockchain and web3, we can realign the economic incentives for all the players in the space, bring capital efficiency to the institutions and make sure there is a liquid forward market for carbon credits," says Stenver Jerkku, Chairman of Solid World DAO.The Solid World DAO team will spend 50% of the funds raised to build liquidity pools by pre-purchasing carbon credits, and the remaining 50% will be used to run the team/community rewards program. Our firm invests in founders of all backgrounds who lead companies at any stage," said Will Szczerbiak, Greycroft partner. "Solid World has a similar mindset when it comes to leveraging blockchain technology to support climate innovators around the planet who are developing promising decarbonization projects."