NFT DeFi Platform Ethernity Chain to Launch on Polkastarter

Share Article
In Brief
  • Ethernity Chain merges DeFi with NFTs in new marketplace.

  • It's launching on Polkastarter with a March 8 IDO.

  • Digital artists will create celebrity endorsed NFTs for the debut collection.

  • promo

    Want to learn how to trade? Get a beginners guide from _BeInCrypto Academy_ now!

The Trust Project is an international consortium of news organizations building standards of transparency.

The latest decentralized non-fungible token (NFT) platform to launch is Ethernity Chain. The project will roll out on the Polkadot-powered decentralized exchange (DEX).



NFTs have been all the rage in 2021. Sales have hit record levels of over $140 million in just thirty days. The demand for platforms offering these scarce digital artworks is also increasing.

Because of this, Ethernity Chain is planning to launch an authenticated NFT-DeFi crossover project.



According to the announcement, the new platform has completed a private fundraising round with strategic investors such as Morningstar Ventures and Black Edge Capital.

It will now move ahead with an IDO (Initial DEX Offering) public sale of its ERN token on March 8. The project has chosen the Polkastarter exchange to facilitate this sale.

Merging DeFi with NFT

NFT collections such as CryptoPunks and NBA Top Shot have been selling like hotcakes recently. Over $47 million in NBA Top Shot NFTs have reportedly been sold in the past 24 hours alone.

The new platform will allow on-chain trading of NFTs, allowing artists and collectors to merge in a growing decentralized marketplace.

“Ethernity Chain will leverage the technology of DeFi and merge it with NFTs to create an exclusive pipeline to rare and collectible content from prominent figures and well-established digital artists.”

Etherenity claims to have joined forces with the Winklevoss twins, Swedish DJ and record producer Alesso, sports tycoon Michael Rubin, soccer players Christian Vieri and Paolo Maldini, and others to promote the crypto collectibles.

The debut collection to be launched will include works from digital artists such as Mad Dog Jones and Esteban Diacono, who will create unique celebrity-endorsed NFTs.

There are already a number of well-established NFT marketplaces including OpenSea, Nifty Gateway, and Rarible, but this will be the first based on Polkastarter.

Polkastarter is a cross-chain incubator for projects to raise capital on the Polkadot network. With Ethereum fees hitting all-time highs, more startups are looking to alternative networks such as Polkadot and Binance Smart Chain.

POLS and DOT Price Update

Polkastarter’s native token POLS has taken a hit in the marketwide correction with a 16% slump on the day falling back to $4.23. Although its a bit behind its Feb. 16 all-time high of $7.50, it has still gained over 500% since the beginning of 2021.

DOT has also taken a 10% hit on the day, dropping back to $34 after its own all-time high above $43 on Feb. 20.  

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Share Article

Martin has been writing on cyber security and infotech for two decades. He has previous trading experience and has been actively covering the blockchain and crypto industry since 2017.

Follow Author

Trade with the Best Crypto Signals - guaranteed profits with over 70% accuracy

Join now

Want to learn how to trade? Get a beginners guide from BeInCrypto Academy!

Learn now