In a development that will surprise almost no one, Forbes magazine reported today that Flowcarbon, the climate, cryptocurrency, and carbon credit startup from former WeWork CEO Adam Neumann, appears to be headed for demise.
Purchasers of the “Goddess Nature Token,” marketed as a first step in putting carbon credits on the blockchain, were reportedly contacted last month about receiving their refunds, provided they signed non-disclosure agreements and waived any claims against FlowCarbon. The company told Forbes that this was “well known,” blaming the state of the carbon credit market for the delay in the rollout.
It's unclear what the company will accomplish since its 2022 founding, or whether big investors like a16z, a staunch supporter of Neumann's, will also get a return. (Flowcarbon is a separate company from Flow, Neumann's other a16z-backed company.)