Open Forest Protocol (OFP), a state-of-the-art open forest measurement, reporting, and verification platform built on carbon-neutral blockchain, announced that it had raised US$4.1 million in a pre-seed round with 17 investor groups. The platform was backed by several angel investors as well as VC technologists from Shima Capital, Übermorgen Ventures, Not Boring Capital, Mercy Corps Ventures, Byzantine Marine, Big Brain Holdings, and Valor Capital.
What is Open Forest Protocol?
Frederic Fournier, a Swiss scientist, and Michael Kelly, an American web3 expert, founded OFP, a platform that combines the knowledge of environmental, climate, and blockchain experts from around the world. Founded in 2021 with a blockchain-based measurement, reporting, and verification (MRV) system, OFP is already collaborating with nearly 40 afforestation and reforestation projects around the world. These initiatives will be the first in history to utilize OFP‘s fully blockchain-native MRV technology.
With the Open Forest Protocol, forest projects of all sizes can track, report, and verify their data on the afforestation process. This helps everyone along the entire value chain, from local communities to the voluntary carbon market.
About Open Forest Protocol
Open Forest Protocol is a carbon-neutral blockchain-based platform for open forest measurement, reporting, and verification. OFP is a public protocol with legal headquarters in Zug, Switzerland, and a team of developers in Ukraine, local experts in East Africa and Central America, engineers and economists in the US, and legal and governance executives in Western and Northern Europe.
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