Key Takeaways:
- IMPT Token is the latest entrant into the large cryptocurrency market
- Aimed at reducing global carbon footprint, the token links the carbon credit market with blockchain technology
- The project has already raised over $2.6 million in phase one of its token sale
YEREVAN (CoinChapter.com) — IMPT token is making headlines in the crypto market. While the industry is yet to recover from the prolonged crypto winter, the new ‘green crypto’ is here to help the environment by helping reduce global carbon footprint. Hopeful investors are already swarming the project, hoping to cash in on the next big altcoin. Thanks to the response, IMPT coin has already raised over $2.6 million in stage 1 of its presale.
What is the IMPT Token?
To reduce the emission of environmentally harmful gases into the atmosphere, such as carbon dioxide (CO2) or carbon dioxide equivalent gases (CO2e), Governments issue a certain amount of carbon credits to companies. Each carbon credit represents one metric tonne of CO2 or CO2e.
When the companies do not use the full amount of credits allocated to them, they can sell to other companies. This has created an entire lucrative carbon credit market.
“The total carbon offset market comprises mandatory and voluntary markets, which are valued at around $271 billion and approximately $2 billion (as of 2021),”
the whitepaper claims.
As a project, IMPT token hopes to link blockchain technology with this carbon credit market. Users can buy or sell their carbon credits through the platform while helping reduce carbon footprints on the earth. Because of this environmentally friendly feature, the IMPT token has been dubbed the “green crypto”.
These carbon credits are minted into nonfungible tokens (NFT), which helps prevent any fraudulent activities. Because each NFT is unique, no one can double-trade in their carbon credits”.
“IMPT connects users with hundreds of impactful environmental projects around the world with the purpose to reduce carbon emissions and help our planet. IMPT also engages thousands of the largest retail brands that allocate a specific percentage of sale margin for environmental projects,”
the project’s whitepaper further reads.
By buying carbon credits, owners have the right to burn them, thus removing the credits, or the right to pollute, from the market. In return for retiring these credits, users get NFTs which they can trade for cash.
IMPT token, which is the native currency of the blockchain, facilitates these transactions.
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Over $2.6 million raised
The project, launched on October 3, 2022, has already registered some impressive results. Within the first 24 hours, it raised over $150,000.
In what comes as further testimony to the project’s initial success, it successfully sold over $2 million worth of IMPT coins in the first week alone.
According to its website, in the ongoing Phase 1 of the token sale, investors have already entrusted over $2.6 million to the initiative.
According to the project’s whitepaper, there will be three billion IMPT tokens in total. From these, 15% will go into the ecosystem, while 5% has been allocated to the team behind the platform. Developers will spend an additional 10% on marketing and early adopters will get 10%.
The remaining 60% will go through three official presales, with the first two both selling 22% and the third and final one selling 18%.
However, as is the case with most new projects, investors are skeptical. Some wonder if this will be a rug pull, asking the community to help understand it.
While the initiative in itself is great, it is too early to say if the project will get the wild adoption needed from businesses. However, IMPT token investors could make some serious profit if companies chose to support the initiative.
