What is Ethernity?

What is Ethernity?

What is Ethernity? To answer that, let’s start by addressing the problem. Digital assets have been on the rise lately. However, there lacks a platform that allows users to safely purchase Digital Assets and also supporting charitable causes for those in need. Few platforms are able to truly allow NFT collectors and NFT artists to work hand in hand in creating a better environment for our world.

The Solution: Ethernity

The Ethernity is a project’s founder is Nick Rose Ntertsas, a long-standing cryptocurrency investor. Ethernity is a platform that hopes to explore digital art with the help of non-fungible tokens (NFTs) and the various opportunities available. The NFT space has been a thing ever since CryptoKitties in 2017 where the highest selling cat sold for ~247 ETH! So the platform has definitely seen a lot more introduction with Ethernity now coming in to make more NFTs highly collectible. In addition, Ethernity will launch various NFT arts and collections and each one will be unique, highly collectible, and potentially ownable by you! 

Ethernity Collections

What exactly are NFTs?

You’ve probably heard a little about NFTs. The industry has simply EXPLODED in the past few months with people spending more than 230 million on NBA Top Shot highlights and Beeple’s “Everydays – The First 5000 Days” selling for 69 million at Christies! NFTs are very simple to understand. They stand for Non-Fungible tokens. They are basically a unique token that is not interchangeable. Furthermore, the unique attributes of the token makes it impossible for it to be replaced or exchanged. You can think of NFTs as tokenzied versions of real-world assets or even digital assets. NBA’s Top Shot is a good example of this as it takes real life NBA highlights and turns them into NFTs. 

Read more about NFTs here!

Enough about NFTs, let's talk more about Ethernity…

The Ethernity will enable users to own unique digital artifacts and artwork. All of these are tokenized and will be traded on the blockchain. Many of the assets will be relating to gaming, music, sports, and the real estate industries. However, the overall scope for NFTs is enormous. So Ethernity Chain will address this with the help of Authenticated non-fungible tokens (ANFTs). With the platform’s close ties to major artists and crypto influencers, the platform hopes to bring mainstream adoption to the NFT world while also supporting charities! Moreover, Ethernity Chain artists can pledge a part of the revenue earned from NFT sales to a charity of their choice. This will open up a whole new opportunity for blockchain charity projects and fundraising models. 

Through a few simple steps, artists and NFT collectors can sell/purchase NFTs easily on the platform!

The Native Token, ERN

The Ethernity Chain token known as ERN is built on Ethereum. The token will provide liquidity to ERN pools. The token will enable participants to farm unique Authenticated non-fungible tokens (ANFTs) which can be traded just like other cryptos! Users can also use the token to participate in staking and earn interest. Moreover, the ERN token will is also for governance. This allows users to participate and make key proposals and changes to the platform. The Ethernity Chain token will also be the key to the community-centric ethos of the project helping to maintain the fundamental idea of decentralization. 

How Ethernity's ERN Token Works

You mentioned ANFTs, can you tell me more?

Ethernity Chain’s Authenticated non-fungible tokens (ANFTs) will give users confidence in the authenticity of the artist’s work. Every time a user purchases ANFTs through Ethernity Chain, the transactions will be transparent on the blockchain. Furthermore, Ethernity Chain has extensive partnerships with celebrities across a vast range of industries adding an additional layer of confidence when investing into the high-profile NFT merchandise. This will also provide users with more confidence that they are buying legitimate products and are not being scammed. 

Ethernity Stones?

Starting on March 24th, the Ethernity STONES will be available to users on the Ethernity Chain. So you can redeem STONES for curated and selected Ethernity NFTs available to STONE holders via the Ethernity Chain platform. Users can get STONES by using ERN tokens to farm STONES. The process is extremely simple, it is as follows

  1. Connect Metamask wallet that holds ERN tokens to Ethernity.io
  2. Click on Farm STONES

 

The yield for the STONES will be calculated depending on how many ERN tokens that are locked into the farming contract. For each ERN token that is locked into the farming contract, you will earn 1000 STONES per 24 hours. So there will be no fractional STONES, and the staking yields are non-divisible and will be stored on the farming contract in units of 1000. If you were to remove your ERN tokens halfway through the 24 hour cycle, you will receive 0 STONES. *Note that you must stake your ERN tokens for a FULL 24 hours in order to receive the STONES yield.

STONES will be held in the farming contract and locked into the address that users used to farm STONES. Users cannot withdraw STONES to another wallet. STONES are non-transferable, and have no monetary value, and users cannot redeem STONES for ETH or ERN. So STONES will be strictly redeemable for curated and specific NTFs available on the Ethernity Chain platform only. 

Check out more about Ethernity!

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