WeWork founder Adam Neumann’s crypto venture Flowcarbon has delayed the launch of its products along with slowing operations due to market conditions.
According to a Wall Street Journal report, co-founder Dana Gibber said that the company has decided to wait for markets to stabilize before launching products. Recent market turbulence has seen bitcoin drop below $20,000 from a high of more than $60,000 in November.
Flowcarbon is a startup that combines cryptocurrencies with carbon credits to create tokens that can be burned when an owner wants to offset emissions. This token is called the Goddess Nature Token (GNT). The launch of this token had been expected by end of June, but that has now been put off indefinitely.
“We invest with a long-term view and remain very confident about the market,” said a16z partner Arianna Simpson, who handled an investment in Flowcarbon.
In May, Flowcarbon raised $70 million through both a token sale and a traditional equity round led by a16z. General Catalyst, who also participated in the round, declined to comment to the Wall Street Journal.
The news follows other token launch delays. Earlier this week, cryptocurrency exchange BitMEX delayed the listing of its native token BMEX amid volatile market conditions.
© 2022 The Block Crypto, Inc. ສະຫງວນລິຂະສິດທຸກປະການ. ບົດຂຽນນີ້ແມ່ນສະ ໜອງ ໃຫ້ເພື່ອຈຸດປະສົງຂໍ້ມູນເທົ່ານັ້ນ. ມັນບໍ່ໄດ້ຖືກສະ ເໜີ ຫຼືມີຈຸດປະສົງທີ່ຈະ ນຳ ໃຊ້ເປັນກົດ ໝາຍ, ພາສີ, ການລົງທືນ, ການເງິນ, ຫລື ຄຳ ແນະ ນຳ ອື່ນໆ.
ກ່ຽວກັບຜູ້ຂຽນ
Tom ເປັນນັກຂ່າວ fintech ຢູ່ The Block. ກ່ອນທີ່ຈະເຂົ້າຮ່ວມທີມງານ, ລາວເປັນຜູ້ຝຶກງານບັນນາທິການຢູ່ໃນເວທີ FT-backed Sifted ບ່ອນທີ່ທ່ານໄດ້ລາຍງານກ່ຽວກັບ neobanks, ບໍລິສັດການຈ່າຍເງິນແລະການເລີ່ມຕົ້ນ blockchain. Tom ມີລະດັບປະລິນຍາຕີດ້ານການພົວພັນສາກົນແລະພາສາຍີ່ປຸ່ນຈາກ SOAS, ມະຫາວິທະຍາໄລລອນດອນ.
Source: https://www.theblock.co/post/157971/adam-neumanns-crypto-startup-delays-token-launch-wsj?utm_source=rss&utm_medium=rss