With the negative stigma surrounding the amount of energy cryptocurrency uses, it’s about time crypto projects step up and start to make a difference from inside the industry. One project that entirely focuses on helping crypto go green is IMPT – a blockchain-based carbon credit ecosystem.
Putting Carbon Credits on the Blockchain
IMPT’s mission is to positively impact the environment by connecting socially responsible brands with businesses and individuals seeking to reduce their carbon footprint. In addition, they intend to provide a straightforward method for users to buy, sell, and retire carbon credits online.
Carbon credits are permits that represent carbon emissions removed from the atmosphere, with one carbon credit representing one ton of carbon dioxide removed.
By law, large companies are often required to purchase carbon credits to offset their carbon footprint that results from their industrial output. However, although large companies have obligations to buy carbon credits, small businesses and individuals are often hesitant to enter the market due to its fragmented and complex structure.
IMPT is an ecosystem that seeks to change the carbon credit market by helping users easily buy, sell, and retire carbon credits
The ecosystem is comprised of the following;
- A Carbon Marketplace
- A Shopping Platform
- A Social Platform
- Carbon Credit NFTs
Users can purchase carbon credits directly from the Carbon Marketplace when it launches in 2023.
As mentioned, today’s carbon credit market is fragmented, making it difficult for individuals to enter as they have limited pricing data with no method to know if they are purchasing genuine carbon credits. The great thing about the IMPT carbon credits is that they are issued as NFTs on the blockchain, providing buyers complete transparency and traceability, and helping them be sure they are genuine.
When an individual or business wishes to retire a carbon credit, the NFT is sent to a burn address and is removed from circulation. Additionally, users will receive unique collectible NFTs after retiring a carbon credit – created by unique artists. These collectible NFTs could potentially start a new environmentally conscious trend of their own, providing additional incentives to retire carbon credits.
Earn Carbon Credits With Regular Lifestyle Shopping
IMPT will also create a shopping platform that allows users to earn carbon credits while doing regular daily shopping. The project has partnered with global top-tier retailers and brands, each ready to allocate a specific percentage of their sales margin for environmental projects.
When a user purchases products from the shopping platform, the sales margin is held in their account as IMPT tokens until they have enough tokens to purchase a carbon credit.
This unique feature will help individuals reduce their carbon footprint while naturally shopping for regular items they already require.
A Global Score to Track Impacts on Carbon Footprints
IMPT will also create a social platform that incentivizes individuals and organizations to become more environmentally conscious and friendly. The social platform will help users measure their impact on their own carbon footprint and will provide the world’s first global score as a metric to track.
The global score will give businesses and individuals a ranking to measure their impact relative to other users across the globe.
All Eyes are on the IMPT Presale
IMPT is now ready to start a series of presales for its native platform token. The “Early Adopter” phase sold 90 million tokens in a matter of weeks as investors rushed to be a part of the crypto that is helping the industry go green.
The next presale is “Phase 1”, starting at the beginning of October. In the first presale, 600 million tokens will be offered at $0.018. This will last for a month, and then “Phase 2” will begin, seeing 660 million tokens offered at $0.023. Finally, the third presale is “Phase 3,” which will see 540 million tokens offered at $0.028.
The public sale will occur after the three presales phases are complete, expected by February 2023 at the latest.
Ethereum Stepping Into Energy Efficiency
In case you’re wondering, IMPT is a carbon-zero company, and the platform is hosted on the Ethereum network. The Ethereum blockchain recently entered into a Proof-of-Stake blockchain, which reduced energy consumption by up to 99.95%, making it the perfect fit for IMPT. Furthermore, Ethereum’s ability to partition data and scale upward ensures a future-proof blockchain for the project.
To find out more, consider joining the project’s official Telegram group and follow them on Twitter.