Flowcarbon reportedly cited tough market conditions and resistance from carbon registries as the main reasons behind the refunds.
Flowcarbon, a blockchain-based carbon credit platform co-founded by WeWork’s former CEO Adam Neumann, is reportedly refunding investors after its once-hyped “Goddess Nature Token” (GNT) failed to launch.
Some refunds have been issued “in recent weeks” after investors — such as tech-focused venture capital firm Andreessen Horowitz — waited over a year for a launch that never happened, Forbes reported on Sept. 11.
Flowcarbon told investors market conditions and resistance from carbon registries were the main reasons behind the refunds.
