Ecosapiens Secures $3.5M in Seed Funding to Champion Climate Action with Web3
In Brief
Ecosapiens is an eco-conscious collective that aims to champion climate action through NFTs.
Prominent NFT influencer gmoney joins the collective as advisor.
The collective will provide a range of digital infrastructure and resources to support the transition to a green economy.
Ecosapiens, a web3 project aimed at making a positive impact on the climate, has just announced that it has raised $3.5 million in a seed round led by consumer web3 fund Collab+Currency.
Notable angel investors in the round include Celo CFO Alex Witt and former COO of Moonbirds Ryan Carson, who left the blue-chip NFT project to start an NFT fund named 121G Fund. Boost VC and its co-founder Brayton Williams are returning investors who led Ecosapiens’ $1.5 million pre-seed raise in May 2022.
Other returning investors include Slow Ventures, Menlo Ventures, and Alumni Ventures Blockchain Fund. This funding round brings Ecosapiens fundraising to an all-time total of around $5 million.
Ecosapiens will use the fresh funding to scale its team and build out its community and offerings. Alongside the new funding, Ecosapiens has roped in gmoney, a prominent NFT influencer and founder of 9dcc, as an advisor.
The project’s co-founders are Nihar Neelakanti, who developed Menlo Ventures’ climate thesis as its former head of investment content, and Garret Kane Dafferner, a former creative director and full-time artist exploring the intersection of humanity, technology, and the environment.
With an aim to champion climate action through web3, Ecosapiens launched in February its namesake alpha collection, which claims to be the world’s first carbon-backed NFT collection. The project also claims that each Ecosapien NFT is backed by 16 tonnes of carbon, which offsets an entire year’s worth of carbon. According to a press release, its alpha collection has sequestered over 1,700 tons of CO2 and counting – the equivalent of planting around 68,000 trees.
When asked how proceeds from the NFT mints will be distributed to fund Ecosapiens’ carbon projects, Nihar Neelakanti told Metaverse Post:
“For our alpha collection, we’re working with carbon credit provider Northern Kenya Rangelands Project, the first large, landscape-scale soil carbon project in the world. It’s a nature-based carbon removal and avoidance project that uses a novel regenerative practice to double the soil’s carbon capture potential from 300,000 tons per year to 600,000 and prevents carbon from being emitted in the first place. We plan to expand our portfolio of climate projects to reach far and wide, from seagrass to kelp to even biochar.”
While some argue that NFTs, which rely on blockchain technology, contribute to carbon emissions, Neelakanti said that Ecosapiens reconciles that with climate action by operating on the Ethereum blockchain, which famously made the switch last year from the more energy-intensive consensus mechanism proof of work to proof of stake.
To encourage people and businesses to transition to a green economy and reduce their carbon footprint, Ecosapiens will provide a range of digital infrastructure and resources, including NFTs, carbon infrastructure, chat groups, and even a comic series.
Ecosapiens has already amassed over 17,000 community members on Discord and has partnered with reputable projects such as Pudgy Penguins.
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About The Author
Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
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Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
