Planet threatening changes are accelerating and not enough is (yet) being done to avert a global climate disaster. Average temperature, Greenhouse Gas Emissions (PPM), Land Ice Melt, Climate anxiety are all reaching all time highs. With just several years to act the urgency is higher than ever and the stakes affect our entire civilization.
Web3 adoption is reaching its own all-time-highs and is adopting at a rate similar, if not higher than the internet**.** There are already ****72% more wallets than in 2021 and a 237% increase since 2018. NFTs spiked 21,000% to over $17 billion in 2021. Yuga Labs, creators of Bored Apes Yacht Club NFTs raised a $450M seed round in March.
There is an avalanche of funding coming and large funds and organizations are seeking ways to effectively and transparently deploy funds for climate action. We are in conversation with Breakthrough Energy, We Mean Business Coalition, BMW Foundation, UNFCCC, OneForClimate/Galaxy ($200M+) for a collective potential fund of $500M already (reaching 10% of this is sufficient to fulfill our mission and reach targets).
Historically, tech adoption has been far more rapid than solutionism and public sector changes. It is time to harness the power of web3 to fix climate.
Choices made in the next 5 years will decide the survival of millions of species; economic, social and political stability of our civilization; and the collective health of this planet’s inhabitants. The recently released IPCC Report leaves no doubt about the scale of the threat. For example, 99% of coral reefs may die and over 1 billion people may be displaced with a temperature increase just beyond 1.5°C. Currently the most optimistic outlooks vary between 2.4°C and 2.7°C (after COP26 conference in Glasgow).
Driven by the time pressure, an increasing amount of startups and non-profits are tackling the climate change with investment landscape becoming more favorable every year.
Multiple studies, including from OneEarth estimate it would cost $1.5T to keep the temperature to 1.5°C, if the funds were used immediately and efficiently. Tackling green-washing, reporting, overhauling existing systems, accelerating existing initiatives and communications are among several key areas where high impact can be made in short term.
We will channel funds into highly vetted impact organizations and inspire hundreds of thousands of people to act in support of those.