What is Ethernity Chain?
What is Ethernity Chain, and how does it work? Learn all you need to know about Ethernity chain in this article.
Although many in the crypto community have yet to properly grasp the perceived value of non-fungible tokens (NFTs), the market has exploded in recent months. The NFT industry grows, with big sports teams endorsing it and celebrity partnerships surging. There are plenty of NFT marketplaces and digital art makers to choose from. Ethernity Chain is working on a community-driven platform for digital artists to create limited-edition NFT lines.
This article will inform you need to know about Ethernity chain, its token, prospective projects, and how NFTs and ANFTs (Authenticated NFTs) are gaining popularity through collaborations and celebrity endorsements.
What is Ethernity Chain?
Ethernity Chain (ERN) is an Ethereum token that drives Etherenity Chain, a marketplace for artists, athletes, and organisations to sell limited-edition, authorised NFTs and trading cards. ERN can be used to buy and sell NFTs, take part in events, and stake prizes.
Ethernity Chain also integrates Authenticated NFTs (ANFTs) and decentralised finance (DeFi) to create a new hybrid utility in crypto! The platform is also eager to take part in community initiatives. Ethernity Chain, powered by the native Ethernity Chain token (ERN), allows artists to give back by contributing a portion of their earnings to charity.
You’ll need to learn how to use a web3 wallet like MetaMask before you can engage with Ethernity Chain and most other NFT platforms.
Ethernity Chain History
The market for non-fungible tokens (NFTs) is saturated. It’s difficult to tell if what you’re buying is genuine with so many fake profiles and scams floating around. The oversaturation makes it difficult for new NFT artists to gain recognition. Consequently, this problem threatens NFT’s adoption in the mainstream.
Ethernity Chain is a blockchain-based technology that creates authenticated non-fungible tokens (ANFTs). The Ethernity Chain project, founded by crypto veteran Nick Rose, is dedicated to digital art and NFT innovation. Ethernity Chain also intends to aid in the accurate valuation of digital collectibles. It wants to leverage NFTs for social benefit and investigate the philanthropic options they bring.
Users can own unique digital artifacts and artwork tokenised and traded on the blockchain with Ethernity Chain. The sports, music, gaming, and real estate businesses will benefit from this. The potential for NFTs, however, is unprecedented. Ethernity Chain uses authenticated non-fungible tokens (ANFTs) to address this.
The Ethernity Chain ecosystem has strong partnerships with leading artists and crypto influencers, all with the common objective of promoting NFT adoption to the mainstream while supporting humanitarian causes. Ethernity Chain artists can also donate a portion of their NFT sales earnings to a charity of their choice. Given some of the project’s names, this opens up a whole new world of possibilities for blockchain charity projects and crowdfunding strategies.
Ethernity Chain has also acquired long-term support from Morningstar Ventures, Black Edge Capital, Woodstock, Genesis Block Ventures, and Spark Digital Capital following a successful major investment deal with some of the top blockchain venture capitalists (VCs).
Ethernity Chain’s Social Good
The Ethernity Chain platform has a long history of supporting charity causes. Nick Rose, the company’s CEO, has a background in environmental activism. Rose has worked to safeguard the Amazon rainforest through humanitarian activities and being an executive for Global Wildlife Conservation. The Ethernity Chain ethos makes it obvious that this project focuses on social good and long-term humanitarian projects.
What Are Authenticated Non-fungible Tokens?
Ethernity Chain’s Authenticated non-fungible tokens (ANFTs) assure users that an artist’s work is genuine. Transactions on the blockchain are visible when you buy ANFTs with Ethernity Chain. Furthermore, Ethernity Chain’s collaborations with celebrities from various industries provide added assurance when purchasing high-profile NFT products. This ensures that people are purchasing genuine products rather than scams or knockoffs.
Ethernity Chain Token (ERN)
The Ethernity Chain token (ERN), an Ethereum-based token, will be used to give liquidity to ERN pools. Participants will be able to farm their own Authenticated non-fungible tokens (ANFTs), which can be sold like any other cryptocurrency! Users will also be able to earn interest by staking the ERN token. The ERN token will also be employed for governance. This will allow holders to vote on suggestions for platform changes. The Ethernity Chain token is essential to the project’s community-centric culture and helps preserve a degree of decentralisation.
Furthermore, a percentage of every ANFT sale made on the Ethernity Chain platform will go to charity! The true potential and utility of the Ethernity Chain token will most likely expand as the platform evolves. Many crypto users are interested in learning more about the hybrid of NFT and DeFi features.
On March 8th, 2021, the Ethernity Chain’s initial DEX offering (IDO) was live on the Polkastarter platform (a decentralised platform for raising funds for Web 3.0 projects).
The total raised during the IDO was only $275,000. One of the primary reasons projects debuting on Polkastarter have achieved such great success is because of these little pre-launch fundraises. Because these projects do not raise large sums of money before launching, they may have more room for market cap increase and upward price momentum than projects that begin after raising millions, if not billions of dollars.
Ethernity Chain & BossLogic
Ethernity Chain is dedicated to connecting with its loyal supporters. On March 7th, 2021, the first “Community Drop” was held as part of this initiative. These community drops give keen collectors early access to rare NFTs and artists the opportunity to market their work to a receptive audience of crypto art enthusiasts.
BossLogic is a professional digital artist from Australia who is one of the most well-known NFT artists. BossLogic, known for his work with Disney, Marvel Studios, and other major corporations, has released his first official line of NFTs, the official Ethernity Chain x BossLogic Collection. In the first of several Ethernity Chain community airdrops, this collection of 2501 NFTs will allow loyal fans to claim the “rarest of the rare” NFTs.
BossLogic is a pioneer in the digital art field and one of the most successful NFT artists. The artist sold $3.6 million in digital paintings in February 2021 alone! This demonstrates the potential for this business to expand and the growing need for highly trained graphic designers in the NFT industry.
The official OpenSea account ‘EthernityChain’ will mint and sell this collection. Community Drops are only open to whitelisted wallet addresses within the Ethernity community. We may expect to see Ethernity Chain collaborate with other big personalities in the future.
Why NFTs Are Becoming So Popular
Non-fungible tokens (NFTs) are one of the biggest trends in crypto and Web 3.0. In recent months, the collectibles sector has faced a remarkable rebirth. This includes anything from rare in-game items to virtual estate ownership, music distribution, and mainstream projects involving celebrities, international artists, and professional sports teams.
People are willing to pay a lot of money (or ETH) to own digitally certified artwork. Grimes, a musician and Elon Musk’s wife, has sold $5.8 million worth of NFT artwork in less than 20 minutes! Jay-Z, 3LAU, Deadmau5, Imogen Heap, Kings of Leon, and Tory Lanez are renowned musicians engaging in crypto and non-fungible tokens (NFTs).
The potential of this technology is great. NFTs are increasingly popular in music, healthcare, insurance, real estate, and other fields. NFTs are attracting major players from every field. As significant figures in popular culture continue to support the use of NFTs, they have the chance to present crypto in a fresh, exciting way to their loyal audiences!
Learn more about the types of NFTS.
What is Ethernity Chain? The Final Word
Ethernity Chain and the ERN token look prepared to drive the already expanding NFT market with Authenticated Non-fungible Tokens (ANFTs), thanks to endorsements from Olive Allen, Ellio Trades, and other prominent influencers in the NFT space.
With such a large online following, and before launching, many anticipated and still anticipate widespread adoption of this platform.
This article originally appeared on the NFT Brief.