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This New Crypto is Expected to 85x by 2023 – Here’s Everything You Need to Know

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The cryptocurrency market has had a disappointing 2022, with its total cap sinking from $2.33 trillion on January 1 to just under $1 trillion today, making for a decline of 57%. However, while the overall picture has been underwhelming, a number of smaller and newer altcoins have beaten market averages, with such tokens including ApeCoin, Lido, Quant, Ethereum Classic, and Tamadoge.

There’s a good chance that one more new altcoin can be added to this list: the Impact Project (IMPT). The Impact Project is a platform that uses the Ethereum blockchain and NFTs to incentivize more environmentally friendly behavior among consumers and businesses alike, allowing users to trade carbon credits.

It has just announced the presale for its native IMPT token in the past 24 hours, offering interested investors the chance to acquire 1 IMPT for $0.018. And at a time when the market’s demand for proof-of-stake and ecologically positive blockchains appears to be growing, this presale has a very good chance of selling out.

This New Crypto is Expected to 85x by 2023

Looking at the Impact Project’s whitepaper, its avowed aim is to help “each individual and business offset their carbon footprint in an easy and secure way.”

It intends to do this by combining its own IMPT token with a tokenization platforms for carbon credits, with carbon credits being tokenized as NFTs. By offering a marketplace for NFT-based carbon credits, the Impact Project will not only let individuals and businesses offset their carbon footprint, but also let those individuals and businesses that have already offset their footprint receive financial rewards for doing so.

Interestingly, the Impact Project is teaming up with “hundreds of impactful environmental projects around the world” and with “thousands of the largest retail brands” that allocate a percentage of their sales to environmental products. Its through such partnerships that the platform’s users will be able to acquire carbon credits, which they will be able to do in one of two ways.

“With our platform, users can acquire carbon credits while doing their regular shopping. Alternatively, they can simply purchase them on the platform,” says its whitepaper.

Such a setup has a two-pronged positive effect on the environment. On the one hand, it simply links consumers with environmentally friendly projects and brands, with their purchases funding whatever initiatives these projects and brands may have going.

On the other hand, it establishes an innovative, blockchain- and NFT-based system for carbon credits, with users able to gain such credits either through responsible shopping or through a direct purchase. Either way, the accumulation of carbon credits contributes to each user’s IMPT.io score, which provides each user with the opportunity to “earn points for their efforts and measure how impactful they are.”

What’s interesting about the Impact Project’s use of the Ethereum blockchain is that, once a carbon credit has been acquired by a user, it is tokenized on the platform, with the user receiving it in the form of an NFT. This prevents the double spending of credits, while it also prevents credits from being used again after they have been retired.

In the Impact Project’s view, such a framework will eliminate many of the problems that currently plague the market for carbon credits as it currently exists, such as overvaluation of credits, fraud, overselling of allowances, and not following proper retirement procedures. By digitalizing everything on a transparent and irreversible blockchain, the Impact Project believes it will make the carbon offset market fairer and more efficient. 

85x Gains by 2023?

With these promising foundations in place, the Impact Project launched the first stage of its presale for its IMPT token yesterday. This initial stage makes the coin available for $0.018, with the second and third stages planned to set the price at $0.023 and $0.028.

The first stage is due to run until it sells out, or November 3 if it doesn’t. Based on other projects with interesting fundamentals that have also had their presales this year, it’s likely that it will sell out, with the Impact Project setting a hard cap of 600,000,000 IMPT, worth around $10.8 million.

It has already sold over $150,000 in a little under 24 hours, which is good going for token and project that has yet to receive too much attention. However, with the cryptocurrency ecosystem currently focused on environmentally friendly blockchains (e.g. Ethereum’s transition to proof-of-stake), much more could be sold in the coming days.

And going by what the market has seen with presales such as Tamadoge’s,  IMPT has every chance to experience big gains in relation to its presale price once it receives its initial listings. TAMA, for example, has jumped by over 1,000% over its presale price of $0.01, so if IMPT were to do the same, it could be selling for around $0.2 not long after it becomes tradable.

See our best crypto presales article for more upcoming tokens set to launch this year or in early 2023.