Metasphere Labs Inc. announced a non-binding Memorandum of Understanding (MOU) dated March 27, 2024 with Pure Sky Registry LLC (Pure Sky) in a move that underscores the burgeoning importance of real-world assets (RWAs) in blockchain technology. Under this MOU, the Company is exploring a commission to integrate Pure Sky's pioneering carbon credit registry with blockchain technology, marking a significant advancement in environmental sustainability efforts. Pursuant to the MOU, the Company will also deliver a comprehensive statement of work (SOW) that will detail the scope, timeline, and responsibilities for the integration of the Pure Sky registry web application with the Pure Sky Decentralized Autonomous Organization (DAO) and carbon credit registry smart contracts.

This SOW will serve as the basis for any future contractual agreement regarding the project. The engagement is timely, reflecting a growing trend in the integration of traditional financial mechanisms with blockchain technology, as demonstrated by BlackRock's venture with Coinbase to launch the BlackRock Institutional Digital Liquidity Fund. This move signifies the financial industry's growing recognition of the potential of RWAs, of which carbon credits are a prime example, and digital assets to revolutionize the financial landscape.