IMPT has recently revealed that it has raised more than $5 milliom in the pre-sale of its native IMPT token and that this milestone was reached in under 48 hours. For the Ethereum-based platform, which intends to leverage blockchain technology and NFTs to create a decentralized, open, equitable and sustainable market for carbon credits, this constitutes a big early success.
Such rise positions IMPT for significant gains after it receives its first exchange listings, based on other coins like Tamadoge that have had equally successful pre-sales this year. The coin will be sold in three stages, with the first stage offering it for $0.018 before eventually increasing to $0.028.
This will account for 60% of the coin’s total supply. Just like Tamadoge, the IMPT coin has been designed to rise in value and serve as a sustainable investment to investors and stakeholders.
Some of the benefits of investing in this coin and how they plan to achieve their goals are discussed in detail below :
• Environment Protection:
IMPT creates a platform where users can buy carbon credits while shopping for everyday basic necessities. Alternatively, they could just buy them from the platform. Tokenizing carbon credits enables users to obtain them as NFTs.
Additionally, the NFTs are shown in a decentralized ledger that is transparent to everyone, guaranteeing transparency and traceability, and then the burned NFTs are transferred to a null address when the user uses up their carbon credits.
Eventually removing their NFTs from circulation. The blockchain keeps track of the NFT and this transaction is no longer available like every transaction.
Participants on the platform are listed on a distributed ledger, and their assets cannot be tampered with, preventing fraud and duplicate counting. In addition, when consumers retire their carbon credits, they get original NFTs made by artists as a replacement. These NFTs can be traded by users within the market.
• Community Building :
Users can access hundreds of globally significant environmental projects through IMPT, which aims to lower carbon emissions and benefit the environment. Thousands of the biggest retail brands participate in IMPT.io as well as brands that dedicate a certain proportion of their sales margin to environmental initiatives. It builds up in the form of users’ accounts and sustainable business relationships between members and holders of IMPT coins.
• User Reward System:
The users collect these tokens until they have enough quantity of their preferred carbon credits. Therefore, users can keep doing their regular shopping while saving the world. Through IMPT, each person and every organization can measure their environmental impact. By enabling everyone to have an IMPT.io score on a social network, IMPT intends to enable everyone to track their level of influence.
The platform will make use of impact points, which are rewarded to businesses and consumers for their successful efforts to combat climate change.
As a result, IMPT.io will be a unique service that enables users to both lessen their carbon footprint and benefit the environment while also tracking their environmental sustainability impact. This transparency in announcing and rewarding community participation has attracted more investors and has helped to increase the value of the IMPT coin.
• Provision of a Carbon emission offset service:
Carbon emissions removal from the atmosphere is represented by carbon credits, commonly referred to as carbon offsets. A process that lowers greenhouse gas emissions might be referred to as a carbon credit. One ton of carbon dioxide can be emitted with one carbon credit.
Carbon credits are created by any authorized project that cuts, eliminates, or collects emissions can generate carbon credits. People and organizations can buy these credits directly from carbon capture companies or through an intermediary to offset their carbon emissions. Carbon credits can then be used effectively by enterprises to cut back on their carbon emissions. The carbon emission offset framework is given a transparent and sustainable plan that makes it worth the investor’s funds, this is done by making sure that no more than one carbon credit can be associated with a single emission reduction. This is a fact because the global carbon offset market is considered to be a billion-dollar industry. The total carbon offset market comprises mandatory and voluntary markets, which are valued at around $271 billion and appr. $2 billion respectively. This is a lucrative industry brought to investors through IMPT tokens.
• Creation of a standardized Carbon market :
The carbon emission offsetting market of today is complicated and divided. Many people and companies are hesitant to enter it because of this.
For instance, a lack of pricing information makes it difficult for service users to determine whether they are paying a reasonable price. Scams that prey on people ready to invest in environmental projects have also proliferated across a wide range of businesses.
Some of the most typical limits and frauds involved with using carbon credits include :
- Asking investors to fund a nonexistent project.
- Overestimating the potential quantity of carbon credits a project can produce.
- Utilizing unused credits to double-sell carbon credits and selling the same allowances to multiple customers.
- Not following the correct retirement processes.
- Lack of necessary documentation to support and demonstrate the project’s legitimacy.
How IMPT plans to address these challenges
IMPT plans to make the process of earning carbon credits affordable for each member of society. Users won’t need to go through complex procedures to purchase or invest in a carbon credit. The IMPT platform will allow them to acquire carbon credits and help the planet while doing their regular shopping and without changing their habits.
Besides supporting multiple projects (not only large-scale projects), IMPT has also collaborated with hundreds of impact projects all over the world.
IMPT elaborates on a variety of ways that would encourage both individuals and organizations to contribute to positive climate change. These include giving users collectible NFTs for retiring their carbon credits and establishing the IMPT.io score, where users can earn points for their efforts and measure how impactful they are.
Once on the platform, the carbon credit is tokenized and the user receives it in the form of NFT. To avoid the problem of double spending, from the moment of tokenization the carbon credit will exist only in the form of NFT, which will be displayed in a decentralized registry and can be tracked by users.
When the user exhausts a carbon credit, this data will be shown as a public, irreversible, and permanent transaction on the blockchain ledger. This transaction is recorded on the blockchain and the NFT is deemed no longer available, which helps prevent any type of fraud.
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