Question 1

What is it?

Accepted Answer

The IMPT token is a cryptocurrency that forms an integral part of an innovative carbon-offsetting loyalty programme. It links the principles of blockchain technology with carbon credits. The token represents carbon credits in the form of non-fungible tokens (NFTs) which users can track on a decentralized ledger, ensuring transparency and traceability. The token is based on the Ethereum blockchain, and a total of three billion IMPT tokens are set to be minted.

The IMPT platform is a unique project that gives everyone the opportunity to support hundreds of environmental projects worldwide in a simple way that doesn’t require changing daily routines. It allows users to shop with thousands of their favorite brands through the platform and earn IMPT tokens, which they can then convert into carbon credits to contribute to reducing global carbon levels.

Question 2

What is it used for?

Accepted Answer

The IMPT token is primarily used for acquiring carbon credits on the IMPT platform. When users shop on the platform, a percentage of the total purchase price is allocated to their account in the form of IMPT tokens. These tokens can then be used to obtain carbon credits that are provided as NFTs. These credits can be allocated to a range of environmental projects, giving users a direct stake in global sustainable development. Moreover, the IMPT tokens can be exchanged for carbon credits from one of 18 environmental projects, allowing users to play a direct role in offsetting their carbon emissions​.

Additionally, the retirement of carbon credits offers users collectable NFTs and points towards an IMPT score that measures the overall impact of their purchase history, tracked on their Impact Card. The platform also rewards shoppers with discounts ranging from 5 to 45 percent, depending on the brand, which can be availed using the app​.

Question 3

Who created it?

Accepted Answer

The IMPT platform and its token are the brainchild of a team of six individuals, led by its CEO, Denis Creighton. Creighton is an Irishman with a significant background in the IT sector, having previously managed companies such as Conduit and Data Fusion International, both based in Ireland. However, plans are in place for the platform to transition control to a decentralized autonomous organization (DAO) in the future.