Ecoterra: This project raises $700,000 in two weeks

700,000 dollars were raised by the ICO of the Ecoterra project, out of a goal of 2 million dollars. The funds raised should enable the startup to launch the first “Recycle-to-Earn” application on the market: recycle your bottles, cans and other containers, then get rewarded in tokens. Bring your Vittel and San Pellegrino bottles, or your Dr Pepper and Heineken cans. Scan them via an app on your phone. Bring them back to a Ecoterra bollard installed at the entrance of a supermarket. Then pocket tokens on your Ethereum wallet. That’s pretty much how the Ecoterra recycling app will work. A project that initiates the movement of Recycle-to-Earn (R2E).

An ICO with a target of 2 million dollars

By selling 1 billion $ECOTERRA tokens, the team wants to raise up to $6.7 million. We learn that a goal of 2 million, in the form of soft-cap, was also fixed. This means that fundraising could be halted as soon as the team manages to sell 30% of the tokens it intends to price.

What will the funds raised be used for? THE ecoterra white paper tells us a bit more about how the project works. In all, the project will have 4 parts : the Recycle-2-Earn application, the database of scannable products, the recycling marketplace and the carbon offsetting marketplace.

The main section is recycling mobile app. This application should allow consumers to scan the recyclable products of hundreds of everyday brands. Then, consumers will bring the containers back to a terminal and earn $ECOTERRA tokens in return.

The recycled containers will then be resold via Ecoterra to companies looking for recycled material suppliesHas recyclers and to other recycling players.

A first partnership with Belgian supermarkets Delhaize

Before the start of the presale (March 29), Mihai Ciutureanu, the CEO, had announced that the first Ecoterra terminals would be installed in the Delhaize supermarkets. The brand is number 1 in Belgium. It has 3,500 stores in 30 countries.

A more recent statement from the team says it had already started incorporating widely used, everyday products into its database of recyclable containers. These are water bottles San Pellegrino And Vitteland cans drpepper And Heineken. The logical continuation seems to be on the side of the other brands of the Nestlé group, to which belong the brands San Pellegrino and Vittel.

“It is also a major step in the progression towards forming partnerships with parent companies in the months to come”, declared Mr. Ciutureanu on this subject. Nestlé’s everyday brands include Maggi, Nestea, Nescafé, KitKat, Gerber and Purina, among others.

The iOS / Android application available in the fourth quarter of 2023

In the project scheduleit is intended that the application be put online in “Q4 2023”. The team has already defined the precise functioning of its app:

  1. Scan the barcode of a plastic/glass bottle or an aluminum can;
  2. Wait for the barcode to be recognized by instant matching with Ecoterra’s database;
  3. Find the nearest recycling station (RVM machine) in the app;
  4. Place the containers in the terminal after scanning the barcode;
  5. Take a photo of the receipt printed by the RVM kiosk via the app;
  6. Pocket tokens $ECOTERRA or some $USDT on his Ethereum address.

A key element for Ecoterra is the success of its recycled products market. As you will have understood, Ecoterra cannot accumulate recycled products indefinitely, they must in turn be resold.

THE project particularly targets brands committed to purchasing eco-friendly materials. The project counts on the interest of multinationals food industry (Nestlé, Coca-Cola, etc.), the sustainable fashion industry, the outdoor industry (Patagonia, The North Face and H&M) or even hotel industry players (Marriott, Hilton, etc.).

How to participate in the presale?

To buy $ECOTERRA tokens, you must own a crypto wallet. The price for phase 1 is $0.0040 per token. The purchase is payable in ETH, USDT or by credit card. This price will be gradually raised at each phase (the ICO has a maximum of 9), until it reaches $0.0100.

You must therefore have an Ethereum wallet compatible with ERC-20 tokens. The site recommends using Metamask or WalletConnect. Be sure to check the address of the official Ecoterra website to avoid any risk of phishing. Then connect your crypto wallet by indicating Metamask or WalletConnect.

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