Crypto prices across the board have been suffering over the course of the last few days.
The meltdown of FTX has been a complete disaster for the industry, as one of the largest crypto market makers and one of the largest crypto hedge funds took out an extreme amount of leverage and then stole their clients’ deposits.
Putting carbon credits on the chain
One of the main goals of the IMPT ecosystem is to completely change the way that carbon credits are handled and to set an example to the rest of the industry.
As of now, carbon credits are issued in a rather opaque manner by centralized counter parties and can only be used to incentivize companies to reduce their carbon emissions.
The goal of IMPT is to ensure that consumers also have a financial incentive to reduce their carbon emissions. Companies that aren’t pollutants and have high ESG scores are onboarded to the IMPT platform.
If users purchase products from these companies through the IMPT shopping widget, they can earn IMPT tokens as cash back, which can then be redeemed for carbon credits as NFTs.
The process of redemption involves burning the IMPT, meaning that the supply is constantly decreasing over time.
Over 25,000 companies now onboarded
One of the most significant trends over the course of the last few years has been the trend of green investing and ESG.
The nexus of ESG investing and the world of cryptocurrencies ought to be a natural one since there are so many ways that the two industries overlap.
The IMPT team has currently managed to onboard over 25,000 companies to their shopping platform through their affiliate program.
Industry giants such as Microsoft, Netflix, River Island, and Macy’s have all been onboarded, meaning that consumers can now be rewarded at a range of ESG-compliant companies for their purchases.
Companies that aren’t onboarded to the IMPT platform may end up losing business as consumers are incentivized to change their habits with the environment in mind.
The IMPT presale has now raised $12.8m
The IMPT presale continues to go from strength to strength as the team continues to raise more capital by the day.
Currently, the team behind IMPT has successfully managed to raise $12.8m for their project, which is astounding when one considers that we are in the depths of a bear market.
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