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Flowcarbon’s planned Goddess Nature Token (GNT) never launched, and a September 2024 Forbes investigation reported that the company had been offering refunds to some purchasers after years of delays. That reporting does not establish that Flowcarbon shut down, that every buyer was repaid, or what happened to each purchaser after the story appeared.
What was Adam Neumann’s crypto startup?
Flowcarbon is a climate-finance venture co-founded by Adam Neumann, the former WeWork chief executive. It proposed using blockchain tokens to represent carbon credits. Its planned token, called Goddess Nature Token (GNT), was described as backed one-to-one by carbon credits, according to Forbes’ September 2024 reporting.
The idea was to make carbon-credit transactions available through a digital token. That is not the same as an ordinary purchase of an offset: a buyer needs to know which underlying credit is represented, whether it remains transferable or has been retired, and who can claim the emissions benefit. The available sources do not establish that GNT launched or provide evidence that tokenization itself would make credits more transparent or environmentally sound.
Why did GNT fail to launch?
Forbes reported in September 2024 that purchasers had waited years without the token launching. People familiar with Flowcarbon’s outreach told the publication that the company pointed to market conditions and resistance from carbon registries. Flowcarbon spokesperson Jennifer Owens said the company had been offering refunds to retail GNT buyers since the prior year because of industry delays, while continuing to grow the business.
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Registry rules were part of the reported backdrop, but the available account does not establish that one registry decision alone caused the non-launch. Forbes said Verra had prohibited the creation of instruments or tokens based on retired credits in May 2022 while it considered a solution intended to prevent fraud and uphold environmental integrity. Verra spokesperson Lara Kennedy told Forbes: “Verra stands by its decision made in May 2022 to prohibit the practice of creating instruments or tokens based on retired credits.”
How much money was involved?
| Figure | What the reporting establishes |
|---|---|
| $70 million | Flowcarbon announced this amount in funding in 2022, according to Forbes’ 2024 report; investors included Andreessen Horowitz. |
| At least $38 million | Forbes reported that at least this much of the $70 million was raised through GNT presales. It said it was unclear whether the figure included retail buyers. |
| $4 million | Flowcarbon announced that Fifth Wall Climate Tech made a $4 million strategic purchase of GNT while the token was in presale. The announcement does not establish whether Fifth Wall later received a refund. |
The $38 million figure should not be treated as a confirmed total of individual consumer purchases: Forbes explicitly said the inclusion of retail buyers was unclear. Flowcarbon’s company announcement described Fifth Wall’s purchase as a strategic presale investment, not a completed token launch.
Did Flowcarbon refund GNT investors?
Forbes reported on September 12, 2024, that Flowcarbon had been issuing refunds to purchasers in recent weeks. The company’s statement referred specifically to refunds offered to retail GNT buyers and described the reason as industry delays. This establishes a reported offer and refund activity, not that all purchasers qualified, accepted, or received their money.
Forbes also reported, based on a contract it reviewed, that the refund release included a broad waiver of claims against Flowcarbon and affiliates as well as confidentiality terms. That is a description of the reported document, not a court finding; the story does not establish that every purchaser received identical terms or signed the release. A purchaser considering any proposed release would need to review the actual agreement and get appropriate legal advice before signing.
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The cited reporting is from September 2024. It does not verify Flowcarbon’s operating status or the final refund outcome for every purchaser as of October 8, 2026. It also does not establish that the company closed, that all eligible buyers were repaid, or that Fifth Wall received a refund. Those points should remain unresolved absent newer, verifiable information.
For readers trying to assess the practical lesson, the central distinction is between a proposed token and an issued, usable asset. In this case, Forbes reported that GNT had not launched, while the company said it was offering refunds amid industry delays. The available sources do not show a completed token product or a full accounting of purchaser outcomes.
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