Billionaire investor Mark Cuban revealed that he is increasingly involved in the tokenization of carbon offsets on the blockchain.
What happened: In a series of tweets, Cuban said that he buys $50,000 in carbon offsets every 10 days and then puts them on the chain as base carbon tons (CRYPTO: BCT).
I have been buying 50k offsets every 10 days or so, verifying them and putting them on the chain as BCT. I would love to do the same thing in KLIMA, and maybe more
— Mark Cuban (@mcuban), November 12, 2021
BCT is a reference token, representing one ton of carbon from the Verification Carbon Unit Registry of the carbon credit issuer Verra in 2008 or later.
The BCT token is bridged to Polygon (CRYPTO: MATIC) through the Toucan protocol. At the same time, the decentralized autonomous organization KlimaDAO aims to push up the price of BCT and has so far accumulated more than 9 million tons of carbon offset worth 100 million US dollars.
"KLIMA has been running for less than 1 month. This is a DAO. This means that its direction is controlled by people in the community. Therefore, all of us have the opportunity to determine the direction," Cuban said.
"I'm still learning, there is still a long way to go, but I don't know why the platform cannot be removed by the same method that it must offset," he added.
KlimaDAO is Cuban's investment portfolio, but the scale of investment is still undisclosed.
Gage Skidmore's photo on Wikimedia Commons.
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