Ethernity Chain (ERN) is a community-driven platform built on the Ethereum blockchain that provides an online marketplace for limited edition, validated NFTs (aNFTs) from leading names in the industry. entertainment and creative industries.
Through strategic partnerships with some of the leading names in sports, entertainment, art, content and digital collectibles, Ethernity is focused on innovating the NFT space by unifying it with decentralized finance (DeFi) to provide transparency and authentication.
Its official launch in March 2021 is heralded by American broadcaster Bruce Buffer, who has also launched his aNFT collection on the platform. Since then, notable figures like Shaquille O'Neal and Lionel Messi have also listed their NFT collections on Ethernity Chain.
The native token of the ERN platform, Ethernity is focused on driving mainstream NFT adoption as the industry transitions to Web3 and the metaverse.
First, you need to connect your MetaMask wallet to interact with Etherity Chain.
Since Etherity is based on Ethereum, it is poised to profit from the Ethereum Merge that recently moved Ethereum from a PoW to PoS model. As a result, the platform will be faster, more scalable and energy efficient.
After The Merge , Ethernity announced that they will only support NFTs that are compatible with the Ethereum PoS chain.
In addition, Ethernity has a DeFi platform on which users can leverage ERN for LP staking, farming STONES, fixed staking and Satoshi Staking.
While both OpenSea and Ethernity are Ethereum-based NFT marketplaces, both have quite different approaches to NFT adoption.
As one of the most popular names in the NFT space, OpenSea has a high trading volume and has millions of NFTs. However, the platform has faced backlash from artists and investors due to increasing scams and thefts by hackers.
Validation is a significant challenge on OpenSea, as anyone can create and bid on their NFT on the platform. Furthermore, all proceeds from the sale of NFTs are shared between the platform and the merchant.
Meanwhile, Ethernity is constantly around authenticity, endorsing rare and limited anNFTs such as digital artworks and trading cards created by top artists. Users can easily verify the authenticity of the NFTs with the official Ethernity Chain blue seal located above the collection.
Nick Rose Ntertsas is the CEO and co-founder of Ethernity Chain and Ethernity Labs. He is a well-known environmentalist and crypto enthusiast. Nick believes that the Ethernity platform can help merge NFT adoption with social good by bringing together like-minded artists for this purpose.
The project is supported by a team of experienced technologists, such as Mac Pholea (Chief Engineer), Evangelios Diamantis (CFO) and Adrian Baschuk (CCO), among the top talent. other.
Its strategic partners and investors include Kenetic, BlackEdge Capital and Morningstar Ventures.
ERN is the token that powers the Ethernity ecosystem. It is utility enabled to provide ultimate value to the owner. Its use cases are as follows.
Ethernity has an NFT marketplace where art lovers and NFT enthusiasts can buy and sell authenticated NFTs using ERN. Three-quarters of ERN tokens collected from NFT transactions, such as auctions and direct sales, are locked in a smart contract for two years.
ERN is also used to purchase Ethernity Bundles, which contain aNFTs curated by the Ethernity creative team, including rare and exclusive anNFTs.
ERN is also used to reward long-term holders and users of Etherity Chain. The LP staking program requires Ethernity's community to provide liquidity for the ERN/ETH trading pair on Uniswap V2.
Liquidity providers for the liquidity pool are issued ERN-ETH-LP-UNI-V2 (LP) liquidity provider tokens representing their share of the pool. At the end of 30 days, liquidity providers are rewarded using ERN with APY levels ranging from 100% – 300%.
Another DeFi product on Ethernity is fixed staking, which allows ERN holders to lock their tokens for a period of time to earn more ERN.
There are different types of rewards that you can earn through fixed staking on Ethernity:
ERN can also be earned through staking a special NFT, Ethernity Genesis: Satoshi, created in memory of the original Bitcoin creator, Satoshi Nakamoto. Satoshi NFT holders can earn 10 ERN tokens every 24 hours for each Satoshi NFT staked. They can be accumulated for up to 360 days.
ERNs are also used to facilitate farming STONES on Ethernity. While it does not possess any monetary value and is non-transferable, STONS can be used to redeem NFTs managed on Ethernity Chain and participate in exclusive Real-life STONES Events. STONES can only be earned by farming ERN through the MetaMask wallet.
Profiting farming on Ethernity generates 1,000 STONES for every ERN generated every 24 hours. Failure to commit in advance will cost you 70% of your profits.
Etherity has also partnered with Polygon to enable ERN connections between Ethereum and Polygon. This partnership will bring full cross-platform compatibility to Ethernity, which will create more utility for ERN holders.
Polygon Network also offers a cheaper, faster and more energy efficient way of NFT mining than Ethereum.
Ethernity's strategic move to merge DeFi's utility with validated NFTs is timely, because NFT scams and fraud cases are rapidly increasing. The platform not only helps drive NFT adoption but also gives art lovers the opportunity to contribute to charity and social work.
Upon its launch in March 2021, the price of Ethernity Chain skyrocketed, from $6.30 on March 8 to a peak of $73.86 on March 27. correcting in the following weeks to find support at $4.98 in mid-May 2021.
After a push to $22.24 on August 21, 2021, the price of ERN began to decline and stagnate between $2 and $3 in the second half of 2022.
CoinCodex predicts that it can reach $25.53 by 2025. Price Prediction also predicts its price to increase to $10.24 by 2025 and jump to $70.85 by 2030. Meanwhile, DigitalCoinPrice forecast that the ERN price will increase gradually, possibly reaching a maximum of 7.48 USD in 2025 and 15.24 USD in 2030.
Authenticity is an important factor when trading NFTs. Etherity Chain is interested in providing a community driven platform to access validated NFTs. Its sincere strategy of promoting social and charitable benefits with its project is also an angle that can promote further NFT adoption.
By leveraging DeFi, Etherity hopes to provide ERN holders with value and utility. As the demand for NFTs continues to grow, the Ethernity ecosystem is sure to thrive as it provides a legitimate place to discover validated, proprietary NFTs.
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