There’s a lot of criticism and pressure for crypto miners, blockchain platforms, dapps, and NFT artists to address their carbon footprints. Some in the industry fear that the "terrible for the environment" perceptions will mean lower adoption rates of these technologies and hurt their growth.
Thankfully, carbon emissions CAN be reversed.
With the Nori API, we're empowering forward-thinking organizations and artists to seamlessly integrate with Nori’s Carbon Removal Marketplace and engage their customers in their brand’s climate story.
Nori and NFT marketplaces both have a strong blockchain foundation making it a natural partnership.
Nori’s API helps NFT Marketplaces reduce their carbon footprint by integrating carbon removal into their platform. This empowers creators and collectors to be part of their climate story with a portion of proceeds from NFT sales going towards purchasing Nori Carbon Removal Tonnes (NRTs).
Nori recently partnered with musician Imogen Heap to help offset the carbon emissions from her “The Firsts” collection of NFTs. The project ultimately resulted in a purchase of 20 tonnes of carbon removal!
🎤 Hear directly from Imogen; how and why she used Nori to offset the carbon emissions associated with minting those NFTs on our Reversing Climate Change podcast.
At Nori, we believe that you don't have to choose between technology and doing what’s right for the environment. Nori helps you go carbon-neutral by reversing carbon emissions with our carbon removal offsets. Removing and storing the carbon is the only way to erase our carbon impact. 95% of other offset methods can't do this.
If you need help setting a carbon removal goal, we partnered with GreenFeet to help you calculate your business' carbon footprint. And when you’re ready to go carbon neutral, book a meeting with us - we’re happy to help!
In legacy carbon markets, buyers are responsible for remedying any reversals in carbon permanence that can’t be covered by the buffer pool. Nori takes a different approach.
In Nori's marketplace, Nori assumes the responsibility. In the event that any Nori Carbon Removal Tonne (NRT) loses the tonne of carbon it represents, Nori will replace that NRT with a new one.
We do this through a combination of reclaiming the Supplier’s restricted tokens, and using tokens from our 100M insurance pool to purchase additional NRTs on a buyer’s behalf.
As a result, Nori can guarantee that buyers always get what they pay for.
Buyers in Nori’s marketplace are individual consumers or businesses who are looking to negate their carbon footprint. Buyers participate in Nori’s marketplace by purchasing NRTs from Suppliers using NORI.
Buyers can use NORI to pay a fixed price for their carbon removal.
Suppliers in Nori's marketplace are the individuals and groups removing atmospheric carbon. Currently, in the US Croplands Methodology, this is farmers practicing regenerative agriculture. Supplier participation in Nori’s marketplace is three-fold: 1) they generate NRTs through their carbon removal practices, 2) Suppliers sell their NRTs and receive NORI in return, 3) Suppliers keep or sell their NORI for cash.
Suppliers can use tokens to regulate their cash flow. They can choose when to sell or hold onto their tokens, depending on whether they need cash immediately or wait until a later date.
To ensure accurate measurement and reporting of carbon removal, Nori uses reputable, independent, third-party verifiers and carbon quantification tools (CQT) to measure, report, and verify carbon removal. Nori uses the carbon quantification tool Soil Metrics in its US Croplands Methodology.
Verifiers and CQTs are considered oracles in Nori’s marketplace—that is to say, they send real-world data to Ethereum’s blockchain.
NORI Token and CQTs:
In trying to profitably trade the token, traders help to determine the market price for carbon dioxide removal, thereby allowing for proper planning and accounting of carbon removal services.
Go in-depth with our detailed proposal on how Nori can help your organization achieve its climate goals.