imagin launches NFT initiative with a sustainability theme
imagin, CaixaBank’s digital services and lifestyle platform, has ventured into the NFT universe. Specifically, imagin is rolling out the first collection of “tokenized” digital illustrations that will reflect the support given to projects with a positive social impact. The aim of the initiative is to reward users who contribute to the sustainability challenge proposed by imagin. Namely to remove 100 tonnes of plastic from the sea.
This first collection of NFTs from imagin is titled “Clean the oceans”. This consists of illustrations inspired by marine animals that document and provide traceability for each user’s specific contribution to this sustainability challenge. It is the first European to use blockchain to demonstrate the impact of end-user involvement in ESG initiatives.
NFT contains specific information about the plastic removed from the ocean as a result of each user’s contribution. This includes details of the date the waste was collected, the port where it was unloaded, the recycling facility where it was processed and the second life given to the recycled material, which is usually used to produce furniture. The digital asset also includes the unique identifier that certifies its location in the blockchain. This is then transferred to the wallet assigned to each customer.
Each NFT also contains a unique illustration. The collection was designed by a creative team that used advanced digital art resources, including artificial intelligence. The result is a reimagining of the deep seabed and the animals that live there.
Imagin is promoting the project to highlight its credentials as a digital leader in sustainability. The project also shows the role that blockchain technology can play in sustainability.
Imagin’s initiative was carried out in collaboration with Fireblocks, a partner that stores the private keys of the digital assets. KPMG acts as an advisor in the project with ioBuilders generating the NFTs.
Imagine NFT ESG initiative: rewarding customers
Contributions to the sustainability challenge are made by direct deposit of payslips. imagin will collect 1 kg of plastic from the ocean for every new user who deposits their paycheck as part of a new customer acquisition program. The goal of the challenge is to collect 100 tonnes of plastic during 2023. Each user’s contribution to the challenge by direct deposit of payslips will be documented through an NFT.
Once the token reflecting their participation is generated, users will be able to view the NFT automatically as part of a new feature in the imagin app designed to store this type of digital asset. imagin’s NFT cannot be stored in wallets outside of imagin, nor can it be sold or traded in any way. The only way to see it is by taking part in imagine’s sustainability challenge. The user will be able to share the image of the NFT on social media or with contacts.
The commercial initiative also includes a payment of €150 to the account of all users who directly deposit their paycheck with imagin for the first time if their paycheck exceeds €1,000. There is a €50 reward if the amount deposited is less than this amount.
More than 4 million fantasies
imagin is a lifestyle platform promoted by CaixaBank. Specifically, it offers digital, financial and non-financial services that help its users, mainly young people under the age of 30, with their daily lives. It currently has a community of 4.2 million users.
