A brand new eco friendly crypto called IMPT has now raised $11m for its platform, in the mission of redefining the market of carbon credits for the better.
Making carbon credits more transparent
The carbon credits markets are notoriously difficult to navigate and extremely opaque. This means that it is very difficult for them to be easily traded, which opens the door for large market inefficiencies.
Blockchain means that NFTs can be traded in a seamless manner 24/7, without relying on counterparties in order to facilitate the trades themselves, since smart contracts can do this.
Not only does this make the entire process more efficient, but it also means that it is more transparent.
When one shops through the IMPT shopping platform with ESG friendly brands (of which more than 25,000 have now onboarded via the IMPT affiliate programme), they are rewarded for cash back in IMPT tokens.
The level of cash back will vary from brand to brand, with some choosing to allocate a higher percentage of the total spend to cash back rewards.
The rise in the ESG industry
One of the reasons that investors are so bullish on the IMPT project is the fact that both cryptocurrency and ESG industries have been going parabolic in their importance over the past decade, and IMPT hopes to capitalise on the nexus of the two.
By 2030, Broadridge Financial Solutions expects the total value of the ESG industry to have reached $30 trillion, and the carbon credits industry alone to have reached $50 billion.
One of the main reasons for this is thanks to the fact that investors around the world are mandated to invest in ESG companies with a specific percentage of their portfolio, and this makes it easier for “greener” companies to attract more capital than those that pollute the environment or are deemed to be net negative for humanity.
IMPT stands at the crossroads of these two industries, and hopes to perform well because of it.
IMPT has now raised $11m
The Dash 2 Trade presale has been extremely successful thus far, and has now raised in excess of $11m within a matter of weeks.
This is particularly remarkable when one considers that crypto is currently in the depths of a bear market, and the macroeconomic situation more generally has also been bearish as of late.