Open Earth
Open Earth is a nonprofit research organization developing open-source technologies for environmentally conscious use cases.
Website: https://www.openearth.org/
HQ: Marina Del Rey, California, United States
Active Markets: Global
Problem Addressed
Climate resilience efforts face many challenges. Projects encounter barriers in funding, navigating complex information about carbon goals and concepts, utilizing costly and fragmented existing data systems, or tracking metropolitan area emissions. Existing efforts and systems fall short of achieving goals, which are themselves insufficient to address the growing crisis.
Project Description
Open Earth uses emerging technologies such as blockchain, AI, and IoT to create accessible, adaptable infrastructure to facilitate collaborative, decentralized, environmentally resilient solutions. The organization has developed a number of projects, including AI-driven climate data tracking for cities and municipalities; climate accounting systems aimed at helping global communities achieve Paris Agreement emissions reduction targets, including a partnership with the United Nations Framework Convention on Climate Change; the development of “nature based currencies”, or digital currencies deriving value from ecosystem protection and natural capital as a reserve asset for environmental stewardship and capital generation; a marine ecosystem measurement, reporting, and verification (MRV) system to certify and finance protection of marine habitats; carbon pricing tools for corporate carbon reduction incentivization; and an open source interoperable network for solar fintech platforms to democratize solar energy impact investing.
Business Data
Status: Active
Constituency Served: Carbon credit purchasers, carbon credit sellers, climate-impacted communities
Networks: Chain not specified
Known Investors: Patrick J. McGovern Foundation
Additional References: N/a
Progress to date
In 2021, Open Earth partnered with the Social Alpha Foundation to develop a collection of 8 unique carbon negative non-fungible tokens inspired by the climate crisis. The tokens, designed by top NFT artists, sold for prices between $20,000 and $6 million on NFT marketplace, Nifty Gateway.
Business Model
Revenue model not disclosed.
Traction
Open Earth has collaborated with organizations such as the United Nations, Yale Open Lab, the MIT Media Lab, and the World Bank.