IMPT, a blockchain-based carbon-offsetting ecosystem designed to connect leading global retail brands with socially responsible individuals seeking to reduce their carbon footprint, has launched the first iteration of its retail shopping platform, available at IMPT.io and on Google Play. The platform will also be available to download on the App Store in the near future. IMPT is giving consumers the tools to acquire and retire carbon credits while doing their regular shopping across thousands of its affiliate retail brands, including Amazon, Nike, and Samsung.
Each time a user buys a product while shopping on the IMPT platform, a percentage of the total purchase price will be allocated to their account in the value of IMPT tokens. Consumers can use accumulated tokens to acquire carbon credits that are provided in the form of an NFT. These carbon credits can then be allocated to a range of environmental projects of their choice, giving shoppers a direct stake in global sustainable development. The platform connects socially conscious consumers with pioneering brands, demonstrating their commitment to fighting climate change, driving customer loyalty with a novel use-case, and allowing individuals to have a direct impact.
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Denis Creighton, CEO of IMPT, said: “IMPT’s vision is to offer every member of society a simple, affordable, and efficient way to combat climate change. Consumers are looking for innovative ways to spend less and adopt a more sustainable lifestyle. We want to empower consumers to not only offset their carbon emissions but also measure their impact in a responsible and social way that encourages friendly competition. That is why we’re introducing the IMPT Impact Card, so that people using the platform can measure the impact of their everyday shopping decisions and challenge their friends and family to make positive choices for the planet.”
Upon retiring their carbon credits, users will receive collectable NFTs and earn points towards an IMPT score that measures the overall impact of their purchase history which will be tracked on their Impact Card. The IMPT Impact Card is a Non-Fungible soulbound token that allows users to record every carbon credit they retire and track their positive progress one transaction at a time. Users can utilise the in-app search function to browse thousands of their favourite brands by location, category, or description. Additionally, by using the app, shoppers can avail of rewards in the form of discounts ranging from 5 to 45 percent, depending on the brand.
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By 2037, the carbon offset market is expected to be worth $1 trillion. Built on blockchain, IMPT adds a layer of security and transparency to the carbon credit market and helps to overcome the traditional problem of double-spending by ensuring that each carbon credit on the platform exists as a redeemable NFT. When redeemed, the carbon credit is retired from the network and the burned NFT is sent to a null address, making it easy for users to track carbon credits in the system.
Users can access the IMPT platform by creating an account that they can connect to their wallet to generate and store IMPT tokens. When IMPT users accumulate a sufficient number of tokens, they can exchange them for carbon credits. Users can choose from one of 18 environmental carbon credit projects, allowing them to play a direct role in how their carbon emissions are offset.
Creighton added: “This is the next step in realising our true vision for IMPT. We’re building a global network of people to play their part in combating climate change, simply by taking small actions in their everyday lives.”
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