Flowcarbon, a startup founded by former WeWork CEO Adam Neumann, has delayed launching its products, including tokens, due to market conditions, according to reports. Wall Street Journal
personCo-founder Dana Gibber said the company had decided to wait for the market to stabilize before launching the product. The latest market turmoil has caused bitcoin to fall below $20,000 from its high of more than $60,000 in November.
Flowcarbon is a startup that combines cryptocurrencies Join with carbon credits to create tokens that will be burned when owners want to offset emissions. The token is called the Goddess Nature Token (GNT), and the token is expected to be released by the end of June. But this has now been canceled indefinitely.
“We invest with a long-term perspective. and remains very confident about the market,” said Arianna Simpson, a16z partner who oversees Flowcarbon investments.
in MayFlowcarbon Raises $70 Millionfrom the token sale and traditional equity round led by a16z General Catalyst, which also participated in the round.
The news follows a delay in the release of another token earlier this week by BitMEX.Postpone List BMEX Tokens Released Amid Volatile Market Conditions
refer : LINK
The post Flowcarbon, the former WeWork CEO’s Crypto project, delayed the token launch indefinitely, appeared first on Bitcoin Addict.