Eco-Friendly Investing is in the News Again and This Crypto Just Raised $12.5 Million – Time to Buy?
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Eco-friendly and ESG investing continues to be in the news amid rising fuel and energy prices and inflation.
IMPT is one new crypto project that has investors excited for a greener future, with the protocol set to use blockchain technology to help fight the climate crisis.
It will do that by transforming carbon credits into NFTs, making them fully tradeable on an open market and cutting fraudulent activity.
The project is attracting huge interest from investors and has raised nearly $13 million in less than a month and is among our best crypto presales of the year.
Carbon credits are a permit that allows its holder - usually businesses and corporations - to emit greenhouse gas through manufacturing and logistics by offsetting their carbon footprints.
One credit is equal to one ton of CO2 and the credits fund verified conservation projects.
While the mandatory carbon market is worth almost $300 billion annually, the voluntary market is tiny in comparison.
However, it is set for rapid growth in the next decade and could be worth as much as $100 billion per year according to a Bloomberg estimate.
IMPT will transform carbon credits into NFTs and is developing a marketplace where investors can buy, sell, or hold them as long-term assets and to offset their own carbon footprint.
Holders can also 'retire' their carbon credits and permanently remove them from the supply.
By turning them into NFTs and housing them on chain, IMPT will also reduce fraud - such as bogus permits and double counting - by having them exist on an immutable and transparent ledger.
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