ReFi Roundup #7: Nori Series A, dClimate partners with Namibia, NFTree Artwork Revealed
Hello ReFi Friends! 👋
Ben Noel again with this week's edition of the ReFi Roundup newsletter. It's an exciting time to be a part of the #ReFi movement - if you're interested to learn more about ReFi, get involved in the movement, or have a story you want included in the newsletter, reach out to us @ReFiDAOist!
Nori Announces $7M Series A
Nori, the carbon removal marketplace, recently announced a $7 million Series A round led by M13 with participation from Toyota Ventures and Placeholder.
Blockchain has been at the center of Nori since its inception, as it was spun out of a 2017 blockchain hackathon project. Currently, the company uses the Ethereum blockchain to store project metadata and facilitate transactions of its Nori Removal Tonnes, or NRTs. The first order of business with the new funding is to reduce the company's environmental impact by migrating the application to Polygon.
The company is also expected to release a NORI token later this year. NORI will effectively act as a currency in the Nori ecosystem. The company plans to sell NORI over time to finance the company's growth.
dClimate Partners with Namibia
dClimate is a decentralized network for collecting, distributing and analyzing climate data. On Thursday, the organization announced a partnership with the Republic of Namibia through the University of Namibia.
dClimate will establish a blockchain registry and verification system for the quantification of Namibia's overall carbon impact. Here is what dClimate founding partner Sid Jha had to say:
By working together with the staff, researchers, and academics at the University of Namibia, we will be able to verify the country’s carbon credits to help support ongoing green hydrogen projects within the country. This not only represents an exciting use case for how blockchain technology can power climate action, but for how countries can leverage decentralized climate data to support sustainability projects.
This is one of the first direct partnerships between a Web3 project and a sovereign nation and it is incredibly exciting that it has happened in the climate space. Hopefully this is the first of many more to come!
NFTree Haus Drops it First Artwork
NFTree Haus is an organization using the creator economy and crypto to drive climate action. It recently announced NFTrees, its first major project.
NFTrees are unique pieces of digital art that help fund the planting trees in cities. The project is built with Polygon Studios and the first series will plant 5o trees in Los Angeles. Earlier this week, the artwork for the series was released created by Luigi Salas - check it out below!
NFTree Haus has an impressive roadmap. A percentage of NFTree V1 sales will go to a community treasury where NFTree holders can vote on where funds will be donated for climate action. NFTree Haus also hopes to partner with brands to add benefits to holding NFTrees.
🌱 ReFi Bites 🌱
Toucan announces a series of improvements
The upgrade will help expedite bridge approvals, increase BCT quality, and improve the "redeem" function.
ReFi DAO recaps last week's ReFi memathon
Check out the thread below for all the great memes from last week's ReFi memathon. First prize went to Gaian, second place went to Flow Carbon, and third went to Marcelo Silva.
ECORISE and Return Protocol team up
ECORISE has been racking up the partnerships in recent weeks. This week the group announced a partnership with Return Protocol, a project that allows crypto accounts to automatically offset their on-chain transactions.
Check out Lucy Tweed's Medium post on DAOs and climate action
Lucy Tweed posted an awesome article last week about Web3 is introducing new paradigms to climate action. If you have any questions on how this whole #ReFi movement actually works, this is a great place to start!
☁️ Outside ReFi ☁️
IPCC Sixth Assessment Report is released
On Monday, the Intergovernmental Panel on Climate Change released the Sixth Assessment Report. This document takes a look at the impacts of climate change and the world's ability to adapt.
The full report is over 3,600 pages long (!!!) but luckily there are great organisations like Carbon Brief to break it down for us. High level takeaway - things are not looking good but there is time to act- we just can't hesitate any longer.
Say hello! 👋
If you're interested to learn more about ReFi, get involved in the movement, or have any feedback on the newsletter, feel free to reach out to us at the community emerging at @ReFiDAOist for more information!