Ask HN: Is genetically modified trees to capture CO2 possible?

I had this idea going on in my mind for a while. Is there any research or startup or company that is working on trees farming. I mean maybe genetically modify trees so they grow in a few years to an usable state and we could start cultivating them like any other agriculture good. Why I am interested is that this could be amazing to the planet. First it would make wood very cheap and we could start using a lot more. As I understand trees and wood in general captures a lot of CO2 so if we build stuff from it (houses, furniture, decorations etc) it would lock that carbon. It could also reduce usage of plastics that we need to extract oil to make (and it's much nicer too, we usually buy plastic stuff because it's so much cheaper). Cheap wood plus stricter regulation would protect natural high value forests as it would not be economical to compete with wood farmers in most of the cases. This would further increase carbon capture and protect our nature. Is this idea crazy? What I am missing? Or is it tried but couldn't be done yet?