Ethernity Chain is an NFT marketplace built on the Ethereum blockchain, offering users authenticated NFTs through strategic partnerships with well-known personalities in the sports, entertainment, and arts industries.
What is Ethernity Chain (ERN)?
Ethernity Chain connects the power of the NFT industry with real-world celebrities and their fan bases. Although the NFT industry is growing every day, there is a big problem. With any industry comes opportunists and scammers. Many users, when they want to buy an NFT, have to pay attention to many factors to avoid being scammed. This is an obstacle to the growth of the NFT industry.
The platform offers users authenticated NFTs, called ANFTs. It also combines ANFTs with the power of DeFi. Ethernity has built its ecosystem with a community-oriented structure. The ERN token is used to support the ecosystem.
History of Ethernity Chain
NFT and blockchain concepts are growing in popularity every day. With this popularity comes responsibilities and challenges. Above, we mentioned a few of the challenges faced by the NFT industry. Crypto master Nick Rose saw these problems and launched the Ethernity Chain project.
Ethernity Chain is a marketplace fully dedicated to NFT innovation and authenticated NFTs. In this way, the platform both increases NFT adoption and benefits users through NFTs. The ecosystem is built on NFT cards authenticated by artists, athletes, and celebrities from many different industries.
Launched in March 2021, the platform has since listed the NFT collections of notables such as Shaquille O’Neal and Lionel Messi.
Social Benefit of Ethernity Chain
While the platform’s vision is based on NFT adoption, it also offers users the opportunity to do social good. Nick Rose, the company’s CEO, is an environmentalist and philanthropist.
On the platform, users can donate a portion of the profits from NFT sales to charities of their choice. This shows that the platform has a philanthropic nature and aims to provide social benefit.
Ethernity Games
Ethernity Labs, the gaming division of Ethernity, is preparing to launch its first game project. The battle royale game called Exorians Universe is still under development. However, according to the information received from the platform, it is possible that popular people such as Messi and Bruce Lee will take part in the game.
In addition, Ethernity users, collection owners, and ERN token holders will have certain privileges in the new game. The ERN token is also planned to be the in-game currency.
Ethernity DAO
Ethernity, a community-driven platform, recently announced the Ethernity DAO. Users who wish to join the DAO and have a say in governance must fulfill the following requirements:
- 10 ERN in their wallet, or
- 10 ERN in Fixed Staking, or
- 10 ERN in Stone Farming, or
- 1 LP token staked, or
- 1 Ethernity NFT, or
- 1 Genesis Satoshi NFT
At least 24 hours before the votes, the above minimum requirements are checked by Ethernity. Users who fail to complete the requirements are not eligible to participate in the voting. Each member can only cast one vote during the voting process.
ERN Token
ERN is a native governance token built on the Ethereum blockchain to support the ecosystem and achieve long-term sustainability. Users can use ERN in several different ways. These are:
- Purchase of aNFTs: Used for trading authenticated NFTs within the platform.
- LP Staking: Users wishing to participate in the Lp staking program need to provide liquidity to the ERN/ETH trading pair on Uniswap v2.
- Fixed Staking: It is a fixed staking method that allows users to earn more ERN tokens by locking their tokens for a certain period.
- Satoshi Staking: Users can stake Ethernity Genesis NFTs, created in tribute to Bitcoin founder Satoshi Nakamoto. Users who stake Ethernity Genesis NFTs are rewarded with 10 ERN tokens every 24 hours.
- STONES Farming: Users can lock ERN tokens through stone farming. In return, they receive STONES, an internal currency that has no value and cannot be traded. STONES are used to participate in events and airdrops organized by the platform.
The ERN token has been used by many users since the platform’s launch. At the time of writing, ERN is trading at $3.74, up 91.55% in the last 24 hours, according to CoinMarketCap data.
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