Environmental tokens have done extremely well over the last few months. For instance, the newly launched IMPT network – a project that helps users and companies reduce their carbon footprint – was able to raise $15 million in the first stage of its presale.Jan 11, 2023 IST3 Min(s) ReadJan 11, 2023 IST2 Min(s) ReadJan 11, 2023 IST3 Min(s) ReadJan 11, 2023 IST2 Min(s) ReadNow, another environmental project that's grabbing the attention of investors is YES WORLD. The platform's native token, YES, has even set the record for the highest gains recorded on the first day of listing.
But what is YES WORLD, how does it work and why is it growing in popularity? Tag along to find out.The YES WORLD project: What is it?The YES WORLD project is the brainchild of Dr Sandeep Choudhary, an active member of the Save Earth Foundation. Choudhary has devoted his life to raising awareness around climate change, protecting the Earth's ecosystem and restoring balance in our environment.Also Read: YES WORLD hits 100k token holders — inches towards 2 million transactions countYES WORLD is a blockchain-based Climate Tech initiative. At the heart of the project is a blockchain-based carbon credit marketplace where individuals and companies can create, buy, and sell carbon credits.
The use of blockchain can help solve issues that have long plagued the traditional carbon offset market.One of the biggest issues for the carbon offset industry is the double spending of carbon credits, where bad actors sell the same carbon allowance multiple times to unsuspecting clients. With the blockchain, the transaction history of carbon credits can be easily viewed; this should help prevent double spending on carbon credits.Another issue with the traditional carbon offset industry is the issuance of fake carbon credits. Again, YES WORLD can help solve this problem as the details of every carbon credit can be verified through the blockchain.On a side note, the project has also set up a YES WORLD Venture Fund.
This fund is designed to financially support upcoming projects related to sustainability and environmental conservation. It's just one more way that YES WORLD is trying to affect a positive change in the world.The YES tokenAside from a carbon credits marketplace, YES WORLD also offers play-to-earn (P2E), move-to-earn (M2E), shop-to-earn (S2E) and staking platforms. In addition, it also features an NFT marketplace where users can launch and trade NFTs with ease.
Central to all these components of the YES WORLD ecosystem is the project's native token, YES.YES is the BEP-20 utility token of the YES WORLD platform. It can be used across multiple components of the YES WORLD ecosystem. For instance, users that play games on the YES WORLD P2E platform can earn rewards in YES.
They can then use these YES tokens to buy in-game items or make real-life purchases.The same applies to YES WORLD's M2E platform, where users are rewarded in YES tokens for walking and other physical activity. They can use these tokens to purchase upgrades in the game that will allow them to earn more YES tokens for the same physical activity. Or they can simply use these tokens to make real-life purchases.YES has plenty of utility offline as well.
It can be used at several vending machines and POS terminals across the world. Users are also rewarded with discounts for shopping with YES WORLD registered merchants and paying with YES tokens.YES price actionIn July 2022, YES was able to achieve a 4,900 percent gain within 24 hours of its first listing on the Coinsbit crypto exchange, setting a world record in the process. Such gains were quite surprising given the turmoil the crypto market was going through at the time.Moreover, the token has been able to sustain this growth since its launch.
YES is up more than 100 percent since its initial listing, going from $0.00778 in July to $0.01623 at the time of writing. The token's trading volume is also up nearly 28 percent over the last 24 hours, touching $2.4 million.The Roadmap for YES WORLDYES is already available across 80 different countries in the world and users can already pay with their YES tokens across a range of merchant stores. As such, the YES token is already inching towards 2 million transactions.However, going forward, the company plans to onboard several more merchants, including e-commerce portals.
The company has stated that before the global launch, which is supposed to take place on April 2024, it plans to onboard around 10 million merchants on the platform. This should allow users to pay for everyday expenses using YES. The company also plans to list YES on at least 50 crypto exchanges before its global launch.ConclusionFrom bridging the global demand and supply of carbon credits to building YES as a payment option for everyday expenses all over the world, the YES WORLD project has big plans for the future.
And if past performance is any indicator of future prospects, these goals are well within reach. However, crypto markets are extremely volatile and circumstances can change almost overnight. Therefore, always do your own research and invest only as much as you can afford to close completely.Also Read: YES WORLD now offering utility services in 80 countries(Edited by : Anushka Sharma)