This new crypto is expected to be 85x by 2023

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

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

It has just announced the pre-sale of its original IMPT token in the last 24 hours, offering interested investors the opportunity to acquire 1 IMPT for $0.018. And at a time when market demand for proof-of-stake and ecologically positive blockchains seems to be growing, this pre-sale has a very good chance of selling out.

This new crypto is expected to be 85x by 2023

Looking at the Impact Project’s whitepaper, the stated goal is to help “every individual and business offset their carbon footprint in a simple and safe way.”

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

Interestingly, the Impact Project teams 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. It is 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 earn carbon credits while doing their regular shopping. Alternatively, they can simply buy them on the platform,” the white paper says.

Such a setup has a twofold positive effect on the environment. On the one hand, it simply connects consumers to eco-friendly projects and brands, with their purchases funding whatever initiatives those projects and brands may have underway.

On the other hand, it establishes an innovative, blockchain and NFT-based system for carbon credits, with users able to obtain such credits either through responsible shopping or direct purchase. Either way, accumulating carbon credits contributes to each user’s IMPT.io score, which allows each user to “earn points for their efforts and measure their effectiveness.”

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

In the Impact Project’s view, such a framework would eliminate many of the problems that currently plague the carbon credit market as it exists today, such as overvaluation of credits, fraud, overselling of allowances and failure to follow proper retirement procedures. By digitizing 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 phase of the presale for its IMPT token yesterday. This initial phase makes the coin available for $0.018, with the second and third phases planned to set the price at $0.023 and $0.028.

The first leg will run until sold out, or November 3rd if it doesn’t. Based on other projects with interesting foundations that have also had pre-sales this year, it is likely to 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 just under 24 hours, which is good for a token and project that has yet to gain too much attention. But with the cryptocurrency ecosystem focused on green blockchains (e.g. Ethereum’s move to proof-of-stake), much more could be sold in the coming days.

And from what the market has seen with pre-sales like Tamadoge’s, IMPT has every opportunity to experience big gains over the pre-sale price when it receives the first listings. TAMA, for example, has jumped over 1000% above its pre-sale price of $0.01, so if IMPT were to do the same, it could be selling for around $0.2 not long after it gets traded.

See our best crypto presale article for more upcoming tokens launching this year or early 2023.