Brazil’s $10M Series A, sell-out Amazon NFT

Brazil’s $10M Series A, sell-out Amazon NFT

Mar 1, 2022 3 min read

In just a few short weeks has announced a $10 million round to expand its web 3.0 applications as well as two sell-out rounds of its newly launched Amazon NFTs with the first round of Moss’s MCO2 tokens gone in less than an hour. The Sao Paulo-based climate tech’s Series A was led by SP Ventures and Acre Venture Partners, joined by Jive Investments, Flori Ventures, Arrington Capital and The Craftory.

Buyers of Moss’s non-fungible tokens, MCO2 are awarded the equivalent of a football field of Amazon rainforest and an immutable, encrypted digital certificate of ownership that Moss says makes the product a collectable item. The first tranch of Moss Amazon NFTs were sold out in less than an hour. Notable buyers of MCO2 include Brazil's Gol, Hering, Arezzo, and Ifood and the financial institutions One River Asset Management and Skybridge.

Moss provides for the tokenisation of carbon credits, starting with the Amazon but eyeing expansion. Founded in March 2020, Moss has fast become a climate tech to watch with growing concern for the Brazilian government’s management of the rainforest alongside growing interest in web 3.0 and carbon markets. According to Mercado Bitcoin, MCO2 tokens have attracted a new audience to Latin America's largest crypto exchange investing to mitigate climate change and preserve the Amazon’s biodiversity.

Image credit: Upslash aims for the Amazon rainforest to be its first successful case study on a mission to pioneer the digitisation of natural assets and carbon markets. Moss’s flagship MCO2 is a token carbon credit listed on global crypto exchanges, including Coinbase, Gemini, and Latin America’s Mercado Bitcoin and the Celo network where it is also a reserve. Moss claims $26 million of carbon credits have been sold in just the last 18 months, crediting growth to global corporates and increased interest in carbon offsetting.  

Luis Adaime, Founder and CEO of Moss:

"We are thrilled to speed up our rapid growth with such high quality investors. Moss is developing many significant Web 3.0 products and services, such as the issuance and distribution of Amazon land NFTs and decentralized, digital certification of environmental work, to unlock value for the planet and for our fight against climate change. Via our top notch blockchain team, we aspire to make environmental accounting and asset generation cheaper, faster, and more convenient."

Alex Bondar, Partner at Acre:

"Moss's ability to digitise the carbon value chain greatly reduces friction between the generation of environmental assets and pent-up consumer demand for practical and impactful climate solutions"

Francisco Jardim, Founder and CEO of SP Ventures:

"We haven't seen any organisation on the planet with Moss's potential to create the economic incentives necessary to accelerate the transition towards a decarbonised agriculture."

FYI/Non-fungible tokens (NFTs) have become hot commodities as impact investors look for innovative and, importantly, real world applications for blockchain despite concerns over the environmental costs of crypto. TL;DR NFTs are similar to cryptocurrencies yet unique and not exchangeable. Most NFTs are built on the Ethereum blockchain.

Conviction has covered impact-led use of NFT technologies, eg Nori's carbon offset marketplace, solving what the startup says is a pervasive accounting problem with climate credits and reporting using the Ethereum blockchain like

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