Launched on March 8th, 2021, Ethernity's main purpose is to allow traders to take advantage of the increasing popularity of non-fungible tokens (NFTs).
Today, we will cover the following topics:
- About Ethernity Chain (ERN)
- What Are Authenticated NFTs?
- How does Ethernity Chain work?
- Technical Analysis
- Why is ERN The Coin of the Week?
About Ethernity Chain (ERN)
What is Ethernity Chain?
Ethernity Chain serves as a vibrant marketplace for authenticated NFTs (a-NFTs) on Ethereum and Polygon networks. Partnering with notable names in sports, art, and entertainment, Ethernity showcases exclusive NFT collections featuring figures like Shaquille O'Neal, Lionel Messi, and Muhammad Ali
In addition to its NFT offerings, Ethernity drives a decentralized app ecosystem in collaboration with global icons and brands, encouraging broader participation in web3 and blockchain communities.
Founded by cryptocurrency veteran Nick Rose Ntertsas, Ethernity Chain is dedicated to leveraging digital art through non-fungible tokens, offering a diverse range of NFTs crafted by renowned artists and endorsed by celebrities.
Ethernity Chain’s Social Good
Ethernity Chain is deeply committed to social impact initiatives. CEO Nick Rose, with a background in environmental activism, has spearheaded efforts to protect the Amazon rainforest through his involvement with Global Wildlife Conservation.
The ethos of Ethernity Chain underscores its dedication to advancing social welfare and fostering sustainable charitable endeavors.
Polkastarter IDO
On March 8th, 2021, Ethernity Chain initiated its IDO on Polkastarter, raising $275,000.
Its modest pre-launch fundraising strategy sets it apart, leading to support from heavyweight VC firms such as Morningstar Ventures, Spark Digital Capital, and Back Edge Capital.
Meanwhile, Polkastarter has emerged as a leading crypto launchpad, facilitating successful projects like Bridge Mutual and SuperFarm.
Despite its humble beginnings, Ethernity's success highlights Polkastarter's role in supporting reputable DeFi and NFT projects, underscoring the platform's significance in the crypto fundraising landscape.
What Are Authenticated NFTs?
Ethernity Chain maximizes the versatility of NFTs by introducing its proprietary Authenticated NFT design, known as ANFTs, and by entrusting them with a specific utility.
Ethernity Chain pioneers ANFTs, ensuring the genuineness of artists' creations. Transactions are transparent on the blockchain, offering visibility when acquiring ANFTs via Ethernity Chain.
The platform's collaborations with celebrities across diverse sectors provide added assurance when investing in high-profile NFTs, safeguarding users against scams and counterfeit products.
How does Ethernity Chain work?
Here is what users can do within the Ethernity Chain:
Purchasing an NFT
Users can purchase authentic NFTs (aNFTs) on Ethernity's marketplace. The project denominates NFTs in ERN tokens and locks 75% of the collected tokens in the reserve for two years.
Fixed Staking
Users can stake their ERN for rewards in both ERN and exclusive NFTs.
Satoshi Staking
Satoshi Staking involves earning ERN tokens through staking the unique NFT, Ethernity Genesis. Holders of the Satoshi NFT can receive 10 ERN tokens per day, with the ability to accumulate them for a maximum of 360 days.
Liquidity Mining
Users may provide liquidity on the Uniswap ETH-ERN pair to participate in the LP staking incentive program.
STONE Farming
Users have the option to stake ERN to farm STONES, which they can then utilize to access exclusive NFTs, tickets for real-world events, and virtual experiences.
Technical Analysis
From a technical perspective, following a 360% surge, ERN has been trading in a correction phase.
Currently, ERN is approaching a massive support zone marked in green. As long as the support at $3.3 holds, we will be looking for buy setups on lower timeframes, anticipating a continuation towards the $7.4 resistance level.
Why is ERN The Coin of the Week?
This week, we've chosen ERN because it revolutionizes the NFT marketplace with its innovative authenticated NFT and DeFi features, such as staking rewards and farming options, making it a DeFi-NFT crossover platform.
Moreover, it harnesses the influence of influential figures worldwide to add an authentication layer to non-fungible tokens, enabling artists to showcase their talent on the blockchain.
Moreover, from a technical perspective, it is currently hovering around a massive support zone, providing us with an opportunity to capitalize on the upcoming bullish impulse movement.
Thanks for tuning in to this week's coin of the week! We appreciate your readership and enthusiasm for exploring the crypto landscape with us.
See you next week for another coin of the week! 🚀
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