According to ChainCatcher, Flowcarbon, a blockchain carbon credit platform co-founded by WeWork founder Adam Neumann, is refunding investors after its once highly anticipated Goddess Nature Token (GNT) failed to be issued.
Some refunds have been issued in recent weeks after investors including technology venture capital firm Andreessen Horowitz waited more than a year for its token launch.
Flowcarbon told investors that market conditions and resistance from carbon registries were the main reasons for the refunds.
Flowcarbon does not appear to disclose its refunds publicly, with a Flowcarbon spokesperson saying: “We have been providing refunds to retail GNT purchasers on standard and customary terms since last year as we continue to grow Flowcarbon into a leader in carbon finance.”