The ORKA Exchange which is an NFT marketplace/protocol is the real product here.
While right now it may look like a few jpegs on a webpage, there is some serious tech happening under the hood that can disrupt the carbon market.
My goal is to position this platform/protocol as the rails for the carbon offset market where buyers and sellers and make near instant, low cost transactions with no intermediaries and all the data can go on-chain creating a decentralized and transparent ledger of the industry accessible by anyone.
Right now there are transactions happening all over the place, and all that data is centralized and controlled by the companies making/reporting those transactions.
And between bad accounting and bad actors, this in itself is a cause for chaos and discrepancies when trying to audit everything happening in the industry.
This marketplace/protocol can bring radical transparency to the marketplace, give more power and control to the offset developer, and create a new way of packaging, transferring, and accounting carbon ownership.
I actually have a few features that make this platform extremely powerful to offset developers specifically.
For example, if you’re an offset developer looking to sell your offsets or credits, you can mint an ownership NFT with all the offset/credit data attached and send it to the buyer in less than 10 minutes and for less than $5 (actually less than $2 right now) and then all the accounting is done and placed on chain.
Not only that, on our exchange, offset sellers are able to add royalties between 0-100% to their offsets so they can get paid on all secondary transactions happening on their offsets if they want.
This alone can help the market and offset developers in multiple ways.
For example, if an offset developer issued offsets on here with a 100% royalty, then any time that offset was resold 100% of that money from the transaction goes into the offset developers wallet. This would eliminate most if not all secondary sales of those offsets.
If they set the royalty to 10%, then 10% of every transaction would go back to the offset developer.
This feature can make sure every transaction happening in the carbon marketplace is having a climate positive impact by sending money back to those who are actually doing the climate work.
It will also in a sense penalize/disincentivize those who are only looking to profit off the buying and selling of offsets.
Then, if the industry adopted my on-chain solution as a standard for exchange, we could make any transfer of ownership that happens off-chain be counted as invalid.
Another feature for offset developers is the ability to list your offsets at auction.
This way the developer could set a floor price (or a minimum) and the buyers can bid on the offsets which will allow the marketplace to dictate the real cost/value of each offset. (Instant sale is an option too if they don’t want an auction)
This marketplace/protocol also give more power and access to global offset developers since they don’t need to do any currency conversion. They can use USDC stable coin to make global transactions almost instantly and for very low fees.
Moving forward, most if not all transactions will be using the stable coin USDC so the buyers and sellers aren’t subject to price fluctuations.
And we’re built on Solana which gives us the ability for high/global scalability.
There are other random nuanced benefits to our marketplace that are helpful for offset developers and the marketplace but those are theses main ones.
- Give more power and control to the people doing the real climate work
- Remove intermediaries in the transactions giving way to rapid low cost transactions that have near instant settlements, give access to the funds right away, and take care of the accounting.
- Collect all the marketplace data and decentralizing it while bringing 100% transparency to all transactions happening in the market