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Adam Neumann takes on Crypto

Updated: May 26, 2022

WeWork mogul Adam Neumann has decided to take a step back from real estate and tackle the next big thing, Cryptocurrency. The 35 person company, Flowcarbon, announced that they had raised $70 million in funding through their first series A round of funding. So what is Flowcarbon?

Taken directly from their site, “Flowcarbon operates at the intersection of the voluntary carbon market and Web3, leveraging blockchain to scale climate change solutions.” So what exactly does this all mean? When I first read this description, it sounded to me like they were a jack of all trades. I mean, blockchain, the carbon market, and Web3?

But seriously, what does this all mean? Basically, the company aims to create and back carbon off-set projects, and turn those into tokens that can then be used to buy and sell. While this seems like it is a good endeavor not only for carbon offsets but for transparency in systems of exchange, this has caused mixed reviews. Some think that this is a noble cause, that not only shows the good Web3 can do, but can help the environment overall. But others are more skeptical, unsure of how this can move the needle when it comes to the overall climate crisis.

So what do you think?

The company is still in its early stages, so we will have to sit tight to see what they do!

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