Ethernity Chain merges DeFi with NFTs in a new market.
The asset is launched on Polkastarter with an IDO on March 8.
Digital artists will create celebrity-approved NFTs for the first collection
The latest decentralized non-fungible tokens (NFT) platform is Ethernity Chain. The project will be deployed on the decentralized exchange (DEX) powered by Bitcoin Trader.
The NFT (tokens non-fungible) are all the rage in 2021. Sales reached record levels of more than 140 million dollars in just thirty days. The demand for platforms offering this type of digital asset is also increasing. An opportunity for decentralized finance (DeFi)?
For this reason, Ethernity Chain plans to launch an authenticated NFT-DeFi crossover project.
According to the announcement, the new platform has completed a private fundraiser with strategic investors such as Morningstar Ventures and Black Edge Capital.
It is now moving forward with an IDO (Initial DEX Offer) public sale of its ERN token on March 8. The project chose the Polkastarter exchange to facilitate this sale.
Merger of DeFi with NFTs
NFT collections such as CryptoPunks and NBA Top Shot have sold like hotcakes recently. Over $ 47 million worth of NFT NBA Top Shot has reportedly been sold in the past 24 hours.
The new platform will feature NFT trading , allowing artists and collectors to merge in a growing decentralized market.
„Ethernity Chain will take advantage of DeFi technology and merge it with NFTs to create an exclusive pipeline to rare content while collecting works featuring well-established digital artists.“
Etherenity claims to have joined forces with the Winklevoss twins , Swedish DJ and record producer Alesso, sports mogul Michael Rubin, soccer players Christian Vieri and Paolo Maldini, among others, to promote cryptocurrency collectibles .
The first collection will feature works by digital artists such as Mad Dog Jones and Esteban Diacono, who will create unique celebrity-endorsed NFTs.
There are a number of well-established NFT markets already, including OpenSea , Nifty Gateway, and Rarible, but this will be the first Polkastarter-based.
Polkastarter is an incubator specializing in fundraising projects on the Polkadot network. With Ethereum gas costs reaching record highs, more startups are looking for alternative networks such as Polkadot and the Binance Smart Chain.
Cours du POLS et du DOT
Polkastarter’s native POLS token took a hit lately with a 16% drop, falling back to $ 4.23. While the asset is a bit behind its all-time Feb.16 high of $ 7.50, it has still gained over 500% since the start of 2021.
The DOT also has also declined by 10% on the day, falling to $ 34 after its own record above $ 43 on 20 February.