Recently we have been seeing a lot of new projects in the NFT niche, tokens that by now are all over the news, both on crypto websites and mainstream media outlets like Forbes, CNN, BBC and so on. It has become clear that NFTs are here to stay for the long haul and make history, so it is clear that this is not a bubble or a hobby technology. For this reason, an increasing number of high-profile investors are entering the sector, financing or creating projects closely linked to NFTs. One such project is ETHERNITY, which was launched a few days ago through an IDO on Polkastarter. Ethernity’s token is ERN, a token that so far has been performing very well. But let’s see what Ethernity is!
Ethernity is a digital platform that helps artists create, publish and sell NFTs. The operation is really simple and consists of these 6 steps: An artist (or sportsman or whoever wants to) creates a digital artwork; this work is authenticated by experts; the maximum supply of the artwork to be auctioned is determined; the winners of the auction can now mine the NFTs linked to that artwork; a small part of the earnings is sent to charities and finally the owners of the NFTs are able to resell their tokens. In short, a quick and fast process that will help many people get started in this new world of NFTs.
Ethernity.io started with a first collection of NFTs but many more will follow and some of these NFTs can be obtained by farming STONES tokens or by staking ERN tokens, the governance token of the whole project. The ultimate goal of Ethernity is to attract people from any niche, including Entrepreneurs, Football Legends, Football Players, Singers and Musicians, Hollywood Actors and Icons from around the world. At the moment only Bosslogic’s Shadowless Base Collection is available on the site in 2500 units. The popularity of NFTs has recently reached incredible heights, surpassing both the number of searches for the word ICO at its peak in 2017.
The Ethernity project has a public team and a respectable founder, who has been present on-chain for a decade already: Nick Rose Ntertsas. To get to know him better, we recommend visiting his official website.
The ERN Token
As already mentioned, the token at the base of the project is called ERN and was launched via an IDO on Polkastarter. Like all IDOs, this one has also been incredibly successful, starting out with a price of just $0.275 and reaching today’s $10. In short, it’s been a meteoric rise that has resulted in a lot of money for the lucky few who have secured a place in the IDO.
The maximum supply of ERN is 30,000,000 units, while the current circulation is less than 5 million tokens. Taking into account today’s price and supply data, today’s market cap is around $40M, while the fully diluted market cap is already at $290M. Although the IDO started with a very low price, the All-time low recorded by CoinGecko is around $3, while the All-Time high is a whopping $13 (touched 2 days ago). Considering that NFTs have an incredible hype and that behind the project there is a very respected person in the industry, these figures may grow further in the coming months.
It is worth remembering that the ERN token is not only used for the governance of the project but will also give access to exclusive NFTs in future collections, so holding it could be a great idea. The token is currently tradable on Uniswap, Bilaxy and Gate.io (listing announced this morning). There is no shortage of liquidity, so no slippage problems with large purchases! Happy trading to all!