News and resources on ESG data and technology, Impact Investing and Sustainable Finance initiatives and best practices.

CaixaBank's imagin launches NFT collection

Source: CaixaBank

imagin, the digital services and lifestyle platform promoted by CaixaBank, has ventured into the NFT universe through the first collection of 'tokenised' digital illustrations that will reflect the support given to projects with a positive social impact.

The goal of this initiative is to reward users who contribute to the sustainability challenge proposed by imagin: to remove 100 tonnes of plastics from the sea.

This first collection of NFTs from imagin is titled “Clean the oceans” and 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 project in Europe that, through blockchain technology, 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, including 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, and which 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, combined with fantastical, dreamlike elements.

Through this project, imagin cements its stance as a digital leader in sustainability, and reasserts its commitment to relying on innovation to implement its model for sustainable projects and a first-rate user experience. The project highlights the crucial role that blockchain technology can play in the field of sustainability, as a tool that can verify the actual impact of these kinds of actions.

This imagin initiative was carried out in collaboration with Fireblocks, a partner that stores the private keys of the digital assets; KPMG, as advisers on the project; and ioBuilders, which generated the NFTs.

For everyone who takes part in the sustainability challenge by direct depositing their paycheck with imagin

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 through various actions and initiatives. 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 us for the first time if the paycheck exceeds €1,000, and of €50 if it is less than that amount.

Once this first collection runs out, imagin is considering creating a new series of NFTs to reward the involvement of its community members in the three sustainability challenges that the platform is focused on: the protection of forests, the conservation of seas and oceans, and the social transformation.

Positive impact on the planet and on society

The initiative is part of the set of sustainability-based products, services, contents, agreements and initiatives that imagin, through imaginPlanet, develops in order to have a positive impact on the planet and on society as a whole. Through imaginPlanet, initiatives are launched in support of social and environmental causes, both internal and promoted by individuals or organisations supported by imagin.

imagin's sustainability plan means that the entire business model and its entire organisation are committed to criteria of coherence, social and environmental commitment, transparency and innovation. As a result, these incentives for new customers are replacing the traditional reward for sustainability actions, such as reforestation, cleaning the oceans or donations to worthwhile causes. Similarly, besides fostering awareness of sustainability among its users, imagin promotes the adoption of sustainable habits internally in its physical spaces and the involvement of its employees in social and environmental causes, by way of programmes in partnership with leading organisations.

imagin's sustainability model has earned it a B Corp certification. This guarantees the company's compliance with the highest standards of social and environmental performance, public transparency and corporate responsibility to balance economic benefit with social purpose. imagin is the first mobile-only financial service platform to achieve this certification.

More than 4 million imaginers

imagin is a lifestyle platform promoted by CaixaBank that offers digital, financial and non-financial services that help its users, mainly young people under 30, with their daily lives and future projects. It currently has a community of 4.2 million users. This number is constantly growing thanks to the wide range of content and services, most of them free to use, ease of registration and the creation of various levels of association that, unlike traditional banks, do not necessarily imply registering as a financial customer.

In addition, the imagin application provides a range of financial products to cover the saving and financing needs of young people as they transition into adulthood and start to have their own income and their own lifestyle projects. In that regard, imagin is adhering to the characteristics that have turned it into the leading bank for young people: mobile only banking (the services are provided exclusively through the app, with no branches and no website, which solely fulfils an informative purpose), with no fees for the user and its own simple and clear language, especially suited to directly communicating with young people. 

Comments: (0)