Within two weeks of the start of its presale, the IMPT token has already attracted $5 million from ESG-conscious investors. The online fundraising is the start of the IMPT.io mission to revolutionize the carbon credit industry through accessible carbon offsetting.
IMPT turns shopping into a carbon-offsetting experience
IMPT.io says it will make it easy for shoppers to manage carbon credits using a blockchain-based offset mechanism. Joining the IMPT.io network in this endeavour will be many top consumer brands. The team says it has already signed affiliate partnership deals with retail outlets, including Amazon. That means any shopping a consumer does on Amazon via the IMPT widget could help save the planet.
Other brands IMPT.io has affiliate shopping deals with include Microsoft, Bloomingdales, GameStop, River Island, Macy’s and Electrolux.
Each retailer will donate a proportion of the sales made through the IMPT.io widget or app. It is up to the retailer how much they wish to donate to the audited environmental, social and governance (ESG) projects that have been selected by IMPT.io. Consumers will be able to choose from among their favourite brands by comparing the various sales margins for green projects offered by each.
When an individual shops online with the IMPT.io widget or in-store using the app, they earn IMPT tokens that can then be exchanged for carbon credits.
How the IMPT token combats climate change
The project’s other core feature is to facilitate the buying, selling and ‘retiring’ of carbon credits on a blockchain marketplace. By using blockchain technology, fraud in carbon credit trading can be eliminated and transparency brought to the fore. Each time someone buys an IMPT token they can convert it into a carbon credit, which in turn can be listed on the IMPT.io marketplace as non-fungible tokens (NFTs).
In addition, the IMPT token incentivises the retiring of carbon credits by exchanging them for collectible NFTs designed by recognized artists.
The retiring of credits is achieved by burning them – a process whereby the tokens are sent to an address on the blockchain that can only receive tokens (not send them), effectively removing them from supply.
Along with accumulating IMPT tokens when shopping, consumers can buy the IMPT token direct on the IMPT website. Individuals can then choose to either burn the credits to offset their carbon footprint, and receive in return a collectible NFT, or list the carbon credits on the IMPT marketplace.
IMPT makes protecting the environment profitable for consumers and businesses
IMPT says it appeals to ESG-focused investors who want to put their money to work to stop environmental degradation by supporting green initiatives such as renewable energy and the curtailment of deforestation.
The project’s overriding strategic contribution is to show how that premise can be turned into an everyday reality for both shoppers, retailers and investors.
Broadridge Financial Solutions estimates that ESG assets will be valued at around $30 trillion by 2030. IMPT says it is thinking big because the challenges faced by humanity in tackling climate change require solutions that work at scale
The team behind the project is led by highly experienced business executive CEO Denis Creighton. “IMPT will help each of us to make our own personal beneficial impact – and together that can significantly strengthen the urgent task of protecting and improving our planet,” the company said in a statement this week.
How do you get involved with IMPT?
To get involved in this green revolution powered by blockchain technology, an individual or corporate entity can simply connect a crypto wallet at impt.io and buy IMPT with ETH or USDT (Tether stablecoin). If prospective buyers don’t have ETH, they can buy using a card securely on the IMPT site, and then make their IMPT token purchase. In the first stage of the presale IMPT is priced at $0.018. In the second stage, which will begin after $10.8 million worth of tokens are sold, the price rises to $0.023.
