Solid World DAO raises $2.5M in one round led by Yolo, Greycroft, Awesome People Ventures, Allegory, Possible Ventures, Draft VC and Basecamp Fund

Solid World represents the world’s first blockchain infrastructure for Forward Carbon Credits. The DAO announced a successful $2.5 million fundraiser, which was completed via a private token sale. The round was reportedly heavily oversubscribed.

TALLINN, Estonia – May 3, 2022 – (Newswire.com)

It’s difficult to start a new carbon project now simply because it’s difficult to find funding. There are many institutions looking to finance carbon projects through forward purchases, but there are high risks of non-delivery and the forward credits are illiquid assets. For this reason, Solid World DAO creates a blockchain-based tokenized infrastructure for forward carbon credits, which reduces the risks of the projects and makes futures markets liquid and collateralizable. With the power of blockchain and Web3 technologies, the mechanics of the current forward carbon market are being completely rethought.

“The carbon markets are currently really non-transparent and predatory towards new players. Our mission in Solid World DAO is to fix that. Using blockchain and Web3, we can realign the economic incentives for all players in this space, bring capital efficiency to institutions, and ensure there is a liquid carbon futures market,” he 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.

“We see a very strong value alignment between Greycroft and Solid World. Our firm invests in founders of all backgrounds who lead businesses at every stage,” he said Will Szczerbiak, Greycroft partner. “Solid World has a similar mindset when it comes to using blockchain technology to support climate innovators around the world developing promising decarbonization projects.”

About Solid World DAO:

https://www.solid.world

https://discord.solid.world

https://linktr.ee/solidworlddao

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Solid World DAO raises $2.5M in one round led by Yolo, Greycroft, Awesome People Ventures, Allegory, Possible Ventures, Draft VC and Basecamp Fund

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