Everything You Need to Know About This New Cryptocurrency, Which Is Predicted to Increase by 85x by 2023

Jamie Larson

• 4 min read
Everything You Need to Know About This New Cryptocurrency, Which Is Predicted to Increase by 85x by 2023

The cryptocurrency market had a terrible year in 2022, with its entire market capitalization falling by 57% from $2.33 trillion on January 1 to little under $1 trillion today. Although the general picture has been unimpressive, a handful of smaller and more recent altcoins—including ApeCoin, Lido, Quant, Ethereum Classic, and Tamadoge—have outperformed market averages.

There's a strong likelihood that the Impact Project will be the final new altcoin to be added to this list (IMPT). The Impact Project is a platform that allows users to trade carbon credits and leverages the Ethereum blockchain and NFTs to encourage more environmentally friendly behavior among both consumers and enterprises.

In the last 24 hours, it has just announced the presale for its native IMPT coin, giving interested investors the chance to buy 1 IMPT for $0.018. And this presale has a very high possibility of selling out at a time when the market's desire for proof-of-stake and environmentally friendly blockchains appears to be rising.

By 2023, this New Crypto is Predicted to Rise 85x.

According to the whitepaper for the Impact Project, this organization's stated goal is to "assist each individual and business in offsetting their carbon footprint in a simple and secure method."

By combining its own IMPT coin with a platform for tokenizing carbon credits—carbon credits are tokenized as NFTs—it aims to achieve what it wants. The Impact Project will help people and businesses offset their carbon footprints and get financial rewards for doing so by providing a market for NFT-based carbon credits.

It's interesting to note that the Impact Project is collaborating with "thousands of the largest retail companies" and "hundreds of influential environmental programs around the world" that dedicate a portion of their revenues to environmental items. The platform's users will be able to purchase carbon credits through such collaborations, and they will have a choice between two methods for doing so.

"Our platform allows customers to purchase carbon credits while conducting their normal business. As an alternative, consumers can just buy them on the platform "the whitepaper claims.

Such a configuration benefits the environment in two ways. On one hand, it merely connects customers with environmentally friendly projects and businesses, with their purchases backing any initiatives these projects and brands may be involved in.

On the other hand, it creates a cutting-edge, blockchain- and NFT-based system for carbon credits, allowing users to earn such credits through ethical purchasing or a direct purchase. Each user's IMPT.io score, which enables them to "earn points for their efforts and quantify how influential they are," is influenced by the accumulation of carbon credits in either case.

An intriguing aspect of the Impact Project's use of the Ethereum blockchain is that after a user purchases a carbon credit, it is tokenized on the network and sent to them in the form of an NFT. This stops credits from being used twice and also stops credits from being utilized after they have been retired.

According to the Impact Project, a structure like this would solve several issues plaguing the carbon credit market today, including overvaluation of credits, fraud, overselling of allowances, and improper retirement procedures. The Impact Project thinks that by digitizing everything and placing it on a secure blockchain, it would improve the efficiency and fairness of the carbon offset market.

Gains of 85x by 2023?

The Impact Project recently started the first phase of its IMPT token presale with these encouraging foundations in place. The price of the coin is currently $0.018, with the second and third stages expected to put it at $0.023 and $0.028 respectively.

The first stage is scheduled to run through November 3 if it doesn't sell out. The Impact Project has established a hard cap of 600,000,000 IMPT, or about $10.8 million, and expects it to sell out based on other projects with compelling fundamentals that have also had presales this year.

It has already raised more than $150,000 in just under 24 hours, which is impressive for a coin and project that hasn't gotten much attention. However, given that the cryptocurrency community is presently focusing on blockchain technologies that are favorable to the environment (like as Ethereum's switch to proof-of-stake), much more could be sold in the days to come.

Additionally, IMPT has a good probability of seeing significant gains in proportion to its presale price after it receives its initial listings based on what the market has seen with presales like Tamadoge's. If IMPT followed the same trajectory as TAMA, which has increased over 1,000% from its presale price of $0.01, it might start trading at roughly $0.2 not long after it becomes tradable.

More forthcoming tokens scheduled to launch this year or in early 2023 can be found in our post on the best cryptocurrency presales.