Tokenizing Sustainability: Imagin's NFT Collection to Clean the Oceans
Imagin, CaixaBank's digital platform, introduces the first European NFT collection "Clean the oceans," reflecting each user's contribution to the sustainability challenge to remove 100 tons of plastics from the sea.
Imagin, CaixaBank’s digital services and lifestyle platform, has entered the world of non-fungible tokens (NFTs) by launching the first collection of "tokenised" digital illustrations. The aim of the initiative is to reward users who contribute to the sustainability challenge proposed by imagin, which is to remove 100 tonnes of plastics from the sea. The first collection of NFTs, titled “Clean the oceans”, consists of illustrations inspired by marine animals that document and provide traceability for each user's specific contribution. It is the first European blockchain-based project that demonstrates the impact of end-user involvement in ESG initiatives.
The NFTs contain specific information on the plastic removed from the ocean as a result of each user’s contribution. This includes details on the date the waste was collected, the port where it was offloaded, the recycling plant where it was processed and the second life given to the recycled material. The digital asset also includes a unique identifier that certifies its location in the blockchain, which is then transferred to the wallet assigned to each customer.
Each NFT also contains a unique illustration designed by a creative team that used advanced digital art resources, including artificial intelligence. The collection reimagines the deep ocean floor and the animals that live there.
Imagin is promoting the project to showcase its credentials as a digital leader in sustainability and to highlight the role of blockchain technology in the field. The initiative was carried out in collaboration with Fireblocks, a partner that stores the private keys of the digital assets. KPMG is acting as an adviser on the project, with ioBuilders generating the NFTs.
Contributions to the sustainability challenge are made by direct depositing paychecks. For every new user who direct deposits their paycheck as part of a new customer acquisition programme, imagin will collect 1kg of plastic from the sea. The goal of the challenge is to collect 100 tonnes of plastic over the course of 2023. Each user’s contribution to the challenge will be documented through an NFT.
Once the token reflecting their participation is generated, users will be able to see the NFT automatically as part of a new feature in the imagin app designed to store this kind of digital asset. Imagin’s NFT cannot be stored in wallets outside imagin, nor can it be sold or traded in any way. The only way to see it is by taking part in imagin’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 made to the account of all users who direct deposit their paycheck with imagin for the first time if the paycheck exceeds €1,000. There is a reward of €50 if the sum deposited is less than that amount.
Imagin is a lifestyle platform promoted by CaixaBank, offering digital, financial and non-financial services to its users, mainly young people under 30. It currently has a community of 4.2 million users.