The MCO2 token, launched by MOSS, was designed to fund five voluntary carbon market projects in the Amazon, all registered under Verra’s Verified Carbon Standard (VCS). These projects focus on forest conservation through REDD+ (Reducing Emissions from Deforestation and Degradation) initiatives. Below is a breakdown of the projects and their respective carbon offsets:
- Fortaleza Ituxi REDD Project (Brazil): 998,210 carbon offsets (32% of the total)
- Agrocortex REDD Project (Brazil): 728,444 carbon offsets (24% of the total)
- Florestal Santa Maria Project (Brazil): 611,641 carbon offsets (20% of the total)
- Amazon Rio REDD+ IFM (Brazil): 140,000 carbon offsets (5% of the total)
- Madre de Dios Amazon REDD+ (Peru): 579,936 carbon offsets (19% of the total)
Together, these projects generated over 3 million verified carbon offsets, supporting efforts to preserve vital Amazon ecosystems.
Tokenization and Mechanics
MCO2 tokens were issued as ERC-20 tokens on Ethereum, Polygon, and Celo blockchains using a one-way bridge system, where each token is backed by a carbon credit from the listed projects. When tokens are retired—used to offset carbon emissions—they are burned, and corresponding updates are made in Verra’s VCS registry. As of August 2025, there are 2,851,014 MCO2 tokens in circulation, with a 24-hour trading volume of $57 and a price of $0.1412, a significant 99.33% drop from its all-time high in January 2022. Tokenization of new credits stopped in May 2022 following Verra’s prohibition on further tokenization.
Market Positioning and Challenges
MOSS marketed MCO2 as a pioneering opportunity for individuals and companies to purchase tokenized carbon credits without needing a VCS registry account or paying transaction fees. Launched when carbon credits were priced around $15 and the market was free of major controversies (such as those later highlighted by The Guardian and The New Yorker), MCO2 targeted REDD+ projects to appeal to environmentally conscious buyers. The whitepaper emphasized its role as a tool for offsetting carbon footprints rather than an investment vehicle.
Despite initial interest, demand for MCO2 tokens remained low. Large companies preferred working with brokers offering consultancy services, and the tokenization process may have confused potential buyers. Additionally, Verra’s 2022 ban on tokenization significantly reduced market traction.
Current Status
MOSS’s online presence has diminished, with minimal activity on social media platforms like Telegram, Facebook, LinkedIn, and X. The official website is currently unavailable, further limiting engagement. Approximately 10% of the 3 million tokenized carbon units have been retired, allowing some individuals and companies to offset their carbon footprints without direct access to the VCS registry.
Conclusion
The MCO2 token represented an innovative attempt to democratize access to carbon credits through blockchain-based tokenization. By supporting Amazon conservation projects, MOSS enabled carbon footprint offsetting without the need for a VCS registry account. However, low demand, driven by corporate preferences for traditional brokers and confusion around tokenization, limited its success. Verra’s ban on tokenization further curtailed its potential. The one-way bridge model has become less relevant, as buyers now prefer options to select specific carbon credits or receive the underlying credits directly. For carbon tokenization to succeed in the future, it must align with standard-approved mechanisms to build trust and confidence among buyers.
