imagin launches sustainability themed NFT initiative

imagin, CaixaBank’s digital services and lifestyle platform, has ventured into the NFT universe. Specifically, imagin is rolling out the first collection of ‘tokenised’ digital illustrations that will reflect the support given to projects with a positive social impact. The goal of the initiative is to reward users who contribute to the sustainability challenge proposed by imagin. Namely, to remove 100 tonnes of plastics 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 utilising blockchain that demonstrates the impact of the involvement of end users in ESG initiatives.

The NFT contains 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, which is normally used to manufacture furniture. The digital asset also includes the unique identifier that certifies its location in the blockchain. This is is then transferred to the wallet assigned to each customer.

Every NFT also contains a unique illustration. The collection has been designed by a creative team that used advanced digital art resources, including artificial intelligence. The result is a reimagining of the deep ocean floor and the animals that live there.

Imagin is promoting the project to highlight its credentials as a digital leader in sustainability. The project also showcases the role that blockchain technology can play in the field of sustainability.

Imagin’s 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.

Imagin NFT ESG initiative: rewarding customers

The contributions to the sustainability challenge are made by direct depositing paychecks. imagin will collect 1kg of plastic from the sea for every new user who direct deposits their paycheck as part of a new customer acquisition programme. The goal of the challenge is to collect 100 tonnes of plastic over the course of 2023. Each user’s contribution to the challenge by direct depositing their paycheck 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.

More than 4 million imaginers

imagin is a lifestyle platform promoted by CaixaBank. Specifically, it offers digital, financial and non-financial services helping its users, mainly young people under 30, with their daily lives. It currently has a community of 4.2 million users.