Ethernity, the team behind Ethernity Chain, has successfully completed its first DEX offer (IDO) for Polka starters. The campaign lasted up to three minutes as over 160,000 users wanted to participate in the token sale. This is an important milestone for the non-profit NFT project.
Growing NFT hype
In the past few weeks there has been a lot of hype about non-fungible tokens (NFTs). Most recently, Ethernity announced theirs Muhammad Ali Collection in collaboration with ABG, the third largest licensor behind Disney and Universal. Even Taco Bell participates Issuing an NFT for four digital art collectibles. While some consider this to be passing hype, the potential for increasing brand awareness is palpable.
Other initiatives to watch out for NBA top shot – a project that generates $ 300 million in sales – and Cent, a platform where anyone can sell their tweets for money. These are just a few examples of what blockchain technology is capable of and why the immutable character of ownership of works of art will become increasingly important in the future.
One of the projects that is getting a lot of attention is Ethernity. Even before the IDO of the project began, there was a lot of buzz about this new company. The ability to mint NFTs to support charity brings more legitimacy to this emerging industry.
The launch of this platform coincides with the ongoing FOMO surrounding non-fungible tokens. If you hit the iron while it’s hot, Ethernity will have a competitive advantage over other platforms that are still trying to find their place in this market.
A successful Ethernity IDO
As a non-profit NFT project, Ethernity was supported by numerous well-known investors, musicians and athletes. The platform focuses on donating the proceeds of digital art auctions to charity. One such example is the already mentioned upcoming “The Fight of the Century NFT”, which was created in collaboration with the Ali Foundation.
After a peak in global interest in non-fungible tokens (NFTs), platforms like Ethernity will only become even more important in the future. With the $ 3.5 million Beeple NFT collection and Christie’s enabling an NFT sale, investors from around the world are trying to get involved.
Ethernity offers an opportunity to auction [digital] Art to raise money for charity. This model attracted a lot of attention even before the ERN token sale on Polkastarter. This sale was completed within 3 minutes as investors pooled enough ether to quickly buy up the available supply.
Over 160,000 users have applied to Polkastarter to be whitelisted for this token sale. This confirms the demand for what Ethernity brings to the table. According to Polka starter statisticsA total of 454,545 ERNs were distributed to 2,580 token holders worldwide.
Unsurprisingly, Ethernity and the Ethernity Chain are seeing such steep success. BossLogic, a renowned artist who dropped NFTs posted on the Ethernity Chain on OpenSea, caused this a few questions for the popular NFT marketplace. The platform had a brief outage due to a massive surge in web traffic.
In addition, ERN token trading is now active Uniswap. Traders can explore the ERN-ETH pair, which has pooled liquidity of over $ million and a 24-hour trading volume of $ 60.3 million. An ERN is currently trading at USD 9.47, approaching the all-time high of USD 11.533 again. Considering how IDO attendees earned ERN at $ 0.3, they have already achieved a significant return on investment.
Why ethericity matters
What makes Ethernity so appealing is the way the team provides artwork created by in-house artists around the world. All digital artworks are represented by NFTs, which include unique trading cards and 3D abstracts. The commemoration of public figures, celebrities, and historical events on the blockchain creates an immutable record that will live on forever.
With a portion of all funds raised through NFT sales going towards a nonprofit, Ethernity isn’t just about buying art in a digital format. Up to 95% of all proceeds can be directed to a charity of the public figure’s choice, subject to the approval of the celebrity and the artist. Every single drop on the platform shares these details in a 100% transparent way.
Founded by early Bitcoin investor Nick Rose Ntertsas, Ethernity has several dozen of celebrity-sponsored works of art authenticated on its native blockchain.
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