Investors worldwide are on the lookout for the next big, promising altcoin. With Bitcoin ($BTC) already out of reach for many investors, there’s more interest than ever in new projects with plenty of promise as traders seek new ways to diversify their portfolios after the downward trend of the major cryptocurrencies in 2022.
Eco-friendly tokens are the new rave, with proof-of-work-based cryptocurrencies facing the ire of regulators and the global crypto community in light of environmental crises across the world. In this article, you’ll see why eco-friendly tokens like SOL, TAMA, and IMPT are well on course to pump like crazy come 2023. Read on!
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Why Eco-friendly Cryptocurrencies?
The first cryptocurrency, Bitcoin, runs a consensus mechanism called Proof-of-Work. This mechanism is the basis of the mining or creation of new Bitcoins. On the Bitcoin blockchain, miners compete to solve the complex mathematical puzzles required to validate and add new blocks to the chain. This process, known as “mining,” is power-intensive, as specialized computer hardware is required to process these complex algorithms.
In places like China, where most crypto mining is done, energy is generated via coal, devastatingly impacting the environment. As a result, mining rigs consume a lot of power, leaving massive carbon imprints in the atmosphere. For example, one NFT unit sold on Ethereum’s blockchain has a carbon imprint comparable to a one-hour flight.
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Recently, Ethereum switched its Proof-of-Work-based mechanism to the more energy-efficient Proof-of-Stake model. However, many popular altcoins are yet to adopt more energy-efficient models.
Renewed consciousness and concern for the environment in the face of global warming are resulting in increased interest and demand for eco-friendly cryptocurrencies. While there are many new tokens, Solana, Tamadoge, and IMPT stand well-placed to deliver maximum returns to investors in the new year.
Let’s take a closer look at these cryptocurrencies.
IMPT Overview
IMPT is a carbon-offsetting network with more than 10,000 brand partners. Essentially, this blockchain-based carbon credit ecosystem connects users to significant environmental projects all over the world with the aim of improving the planet and reducing carbon emissions. You can purchase IMPT tokens by visiting its official website and connecting your wallet to the presale platform.
The IMPT network carefully checks all of its supported projects and ranks them based on their environmental impact. These audits ensure that the brands follow the Global Certification Protocols. You can invest in any of the projects via the IMPT widget or the upcoming IMPT app.
Each token can be swapped for carbon credits, which are subsequently converted and minted into NFTs. The carbon-footprint-offset NFTs are then “burned” in exchange for a collectible equivalent. IMPT’s carbon marketplace essentially allows investors to trade or retire their carbon credits, with the incentive of receiving unique, collectible NFTs.
Tamadoge Overview
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TAMA is the latest meme coin in town, packed with actual utility to shame the traditional meme coins. The likes of Shiba Inu and Dogecoin enjoyed market popularity due to their association with a social-media-trending meme. However, they have little to no utility outside of being means of digital payments.
Tamadoge takes meme coins to a whole new level through its unique Play-to-Earn system, where users can earn and compete with other users with their unique TAMA NFTs. Furthermore, TAMA’s fixed market supply, coupled with the project’s “burning” of tokens every few years, is reminiscent of the approach that made Bitcoin the premier cryptocurrency. This method guarantees a more upward trajectory for tokens than most other approaches.
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Although TAMA has only been around for a few months, it’s undoubtedly making big strides in the crypto market, with collaborations with other Metaverses and big-name exchange listings well underway.
Solana Overview
Founded by Anatoly Yakovenko in 2017, Solana is an open-source Web 3.0 project that implements a unique, efficient, and permissionless blockchain to support DeFi technology and decentralize the global financial system. Solana’s mission is to support all high-growth and high-frequency blockchain applications and to democratize the world’s financial systems.
The Solana blockchain uses a unique version of the energy-efficient Proof-of-Stake model called Proof-of-History (PoH). Today, SOL’s market supply stands at a little over 500 million tokens, with a market cap of $11.9 billion and a fully diluted valuation of $17.1 billion.
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As per recent reports, the blockchain is highly energy efficient, with its carbon intensity dropping from 201g CO2 per kWh to 198g CO2 per kWh in December 2021.
Reasons TAMA, IMPT, and SOL Will Pump in 2023
2022 has been a poor year for the biggest names in the crypto industry, with many tokens tanking in market value. However, SOL, IMPT, and TAMA promise to be the next big thing in the industry for the following reasons:
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Promising Launches
A token that launches to widespread acceptance and approval by the crypto community is bound to do well in the long run. Today, IMPT’s project has over 10,000 brand partners. TAMA launched to an eye-watering $20 million presale, while Solana’s 2021 boom saw it become the fastest growing token of that year.
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They are Energy-efficient
Increasing concern for global warming disasters is mounting pressure on the blockchain industry to revolutionize its mechanisms and reduce carbon imprint. DeFi giants Ethereum, in their recent merge, completed the switch to a more sustainable consensus mechanism, and this trend is set to continue for the foreseeable future.
As a result, environment-centric tokens like TAMA, SOL, and IMPT are guaranteed to have their demands increase exponentially in the coming year.
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They’re NFT-based
The blockchain industry is moving from single-use, payment-oriented tokens to ecosystems that offer more utility. TAMA, SOL, and IMPT are all NFT-based tokens, and their popularity is sure to grow, as will their demand and market values in 2023.
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For instance, Solana’s Degenerate Apes NFT collection sold out in about 10 minutes, contributing to a rise in the token’s value. As more and more enthusiasts, collectors, gamers, and artists jump on the NFT bandwagon, we’re sure to see associated tokens like TAMA, SOL, and IMPT increase in value in the coming year.
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Efficient Tokenomics
The key to a crypto project’s success is tokenomics or the economics of its ecosystem. Tokens with no real-world utility tend to perform poorly, given that they’re only designed to be capitalized on by pump-and-dump investors.
TAMA, for instance, burns a certain quota of its tokens every few years to reduce supply and keep prices high. Its unique reward system for its Play-to-Earn games ensures that much of the value in its liquidity pool ends up in the hands of the users.
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On the other hand, Solana is backed to remain relevant in the coming years due to its support for DeFi apps. Additionally, TAMA’s NFT and environment-oriented approach guarantees that its value will rise in the long term.
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Whales are Accumulating Eco-friendly Tokens
As the realities of Ethereum’s Merge kick in, we see that the crypto whales are stacking eco-friendly tokens like TAMA, SOL, IMPT, and more. All are fast-growing tokens, and with such interest from institutional investors, it’s only a matter of time before supply dwindles, and their values soar.
Conclusion
If you don’t have any of these tokens in your portfolio, you’re missing out big time! After the difficulty of 2022, 2023 promises to be a fresh start for investors and enthusiasts smart enough to invest wisely. Hence, you can consider investing in these eco-friendly cryptocurrencies today.
