June 24, 2021

Ethernity IDO Concludes Within Minutes As NFT Hype Intensifies

4 min read

Ethernity, the group behind Ethernity Chain, has actually successfully concluded its Initial DEX Offering (IDO) on Polkastarter. The project lasted all but 3 minutes, as over 160,000 users wanted to participate in the token sale. This marks a considerable turning point for the charity NFT task.

Growing NFT Hype

Over the previous few weeks, there has been a lot of buzz related to Non-Fungible Tokens (NFTs). Most just recently, Ethernity announced their Muhammad Ali collection in partnership with ABG, the 3rd most significant licensor behind Disney and Universal. Even Taco Bell is getting in on the action by releasing a NFT for four digital art collectibles. While some may see this as a momentary buzz, the capacity for increasing brand name awareness is concrete.

Other initiatives to take notice of consist of NBA Top Shot – – a task raising$300 million in sales – and Cent, a platform where anybody can sell their Tweets for money. These are simply some examples of what blockchain innovation can, and why the immutable minting of artwork ownership will end up being more vital in the future.

One of the tasks attracting a lot of attention is Ethernity. Even before the project’s IDO began, there was a lot of buzz surrounding this brand-new endeavor. Having the ability to mint NFTs as a method to assist support charitable causes brings more authenticity to this nascent market.

The launch of this platform coincides with the ongoing FOMO surrounding Non-Fungible Tokens. Striking the iron while it’s hot will provide Ethernity an one-upmanship over other platforms still searching for their location in this market.

A Successful Ethernity IDO

As a charity NFT task, Ethernity has actually gotten support from various popular investors, musicians, and athletes. The platform focuses on donating the earnings of digital art auctions to charity. One such example is the previously mentioned upcoming “The Fight of the Century NFT, produced in collaboration with The Ali Foundation.

Following a peak in global interest for Non-Fungible Tokens (NFTs), platforms such as Ethernity will just end up being more essential moving on. With the Beeple NFT collection raising $3.5 million and Christie’s assisting in an NFT sale, financiers from all over the world are attempting to participate the action.

Ethernity provides a method to auction off [digital] art to raise money for charitable causes. This design has actually attracted a lot of attention even ahead of the ERN token sale on Polkastarter. That sale concluded within 3 minutes, as financiers had pooled together adequate ether to rapidly purchase up the readily available supply.

Over 160,000 users used to Polkastarter to end up being whitelisted for this token sale, more validating the need for what Ethernity brings to the table. According to Polkastarter’s data, an overall of 454.545 ERN has actually been distributed to 2.580 token holders worldwide.

It is not surprising to see Ethernity and Ethernity Chain note such steep success. BossLogic, a popular artist who dropped NFTs issued on the Ethernity Chain on OpenSea, triggered some problems for the popular NFT marketplace. The platform experienced a quick blackout due to a huge rise in web traffic.

Moreover, the ERN token trading is now live on Uniswap. Traders can explore the ERN-ETH pair, which has more than $ million in pooled liquidity and keeps in mind $60.3 million in 24-hour trading volume. One ERN is currently trading at $9.47, nearing the all-time high of $11.533 once again. Thinking about how IDO participants gotten ERN at $0.3, they have already seen a substantial investment return.

Why Ethernity Matters

What makes Ethernity so attractive is how the team provides art work developed by internal artists worldwide. All digital artworks are represented by NFTs, that include unique trading cards and 3D abstracts. Commemorating public figures, celebrities, and historical occasions on the blockchain creates an immutable record that will live on permanently.

As a portion of all funds raised through NFT sales will approach a charitable company, Ethernity isn’t just about buying art in a digital format. Up to 95% of all proceeds can be forwarded to a charity of the public figure’s choice, depending on the celeb and artist’s agreement. Every individual drop on the platform will share these details in a 100% transparent manner.

Ethernity is founded by early Bitcoin investor Nick Rose Ntertsas and has a number of dozen celebrity-backed artworks confirmed on its native blockchain.

Disclaimer: The details provided here does not make up financial investment recommendations or a deal to invest. The statements, views, and opinions revealed in this short article are exclusively those of the author/company and do not represent those of Bitcoinist. We highly advise our readers to DYOR before investing in any cryptocurrency, blockchain job, or ICO, particularly those that ensure revenues. Additionally, Bitcoinist does not ensure or suggest that the cryptocurrencies or projects released are legal in any specific reader’s place. It is the reader’s responsibility to understand the laws relating to cryptocurrencies and ICOs in his/her nation.