So, you’ve worked hard all year, implementing new regenerative agriculture practices. Our partner, SoilMetrics, has quantified the impact of your efforts on carbon sequestration, and you’ve been issued a proportional number of Nori Carbon Removal Tonnes (NRTs). What now?
Currently, your NRTs enter a first-in-first-out (FiFo) queue where interested buyers can purchase the NRTs. While we are in the pilot phase, you are paid in cash for your NRTs at the price you set. However, after the pilot phase, you will be paid in tokens (NORI), which you can promptly sell or hold on to and sell later. We are also investigating if you can just be paid in cash and bypass the NORI completely.
You can think of a token like a gift card. Essentially, people can use the gift card to buy a good or service that accepts them, or exchange the gift card for currency.
NORI is our token, which is traded and sold in our carbon removal marketplace. You can decide whether to manage and hold the token as one of your assets. Each interchangeable NORI can purchase and retire a unique NRT. Our NORI fulfill three key functions:
NORI allows for the genuine price discovery of CO2 removals
NORI provides you with an additional asset to hold or sell at your leisure
If you don't want to deal with crypto you don't have to
Some previous carbon markets suffered from double counting. Nori’s elegant solution is to use blockchain technology. In our marketplace, one NORI will always purchase one tonne of carbon removal. When someone uses a NORI to buy carbon removal, the representative NRT is logged on the blockchain and immediately retired. As a result, you can rest easy knowing that two people haven’t been paid for the same thing.
Notably, NORI is tradable across carbon removal projects, which clarifies price discovery of CO2 and removes the present barriers to creating carbon removal at scale.
As part of Nori’s farmer forward mission, we want to diversify your income stream by providing you with an additional asset for your balance sheet.
Our token, NORI, can be viewed like any other type of commodity. The way you choose to interact with NORI can help regulate your cash flow. If you need cash immediately, you can sell your tokens after receiving them. On the other hand, if you believe the price of CO2 will increase, feel free to hold your tokens, and sell them later.
Think of NORI as you do a grain bin. Once the harvest is over, you may have the ability to sell grain right away or store it in a bin. Storing grain allows you to wait and bring the commodity to the elevator when you expect the prices to be higher.
The same is true with NORI. You can bring the tokens to the market and sell them for cash right away, or you can hold on to the tokens and wait to sell until you believe the price will be higher.
As an added bonus, NORI doesn’t require building expensive structures to store the commodity.
Yes, you can absolutely still get paid! Farmers can immediately sell their tokens for cash at the current market rate and have the money deposited in their bank account.
Nori will handle the conversions in the background. Additionally, as we mentioned earlier, we are also investigating if you can just be paid in cash and bypass the NORI completely.
🤝 NORI allows for the genuine price discovery of CO2 removals
💸 NORI provides you with an additional asset to hold or sell at your leisure
👋🏽 If you don’t want to deal with crypto you don’t have to