Quick Summary
- Ethernity Chain is a special NFT marketplace offering authenticated NFTs. Ethernity Chain specializes in unique NFTs of popular icons and figures like Messi, Muhammad Ali, and many others.
Even if you are not a crypto guy, you must have heard chatter about NFTs on social media. The NFT buzz is taking over the way the art is represented and reshaping the concept of ownership. Ethernity Chain introduces the Unique Concept of authenticated Non-Fungible Tokens (A-NFTs) by providing the licensed and authenticated digital art directly generated by the “Icons”.
These “icons” can be brands, artists, creators, or celebrities. The platform has minted many NFTs of famous icons like Tony Hawk, Muhammad Ali, Fernando Tatis, Messi, and others.
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A-NFT Model
An easy way to explain NFT would be to expand the abbreviation and say ‘Non-Fungible Token’. The term ‘Fungibility’ might provide a little hint but doesn’t explain the whole concept. If we go a bit technical then NFT is a novel and non-interchangeable unit of data, stored on the blockchain to provide an authenticity certificate to anything associated with it. Too technical? In simple words, real-world assets are provided authenticity and ownership certificates through NFT.
A-NFT standard adds more value to the art and guarantees the originality of the artwork enhanced by the transparency of blockchain transactions. This model and standard of minting NFTs involve both the influencer and the artist. The share of NFT sales is agreed upon between the influencer and the artist at the time of creating the artwork agreement.
Now the public figure or influencer and artist can choose to donate a part of their NFT sales ranging from 5% to 95% to the charity of their choice. NFT Marketplace of Ethernity charges a fee of 5% for enabling the sale when you buy an NFT. An additional roughly 5% is charged as a marketplace fee/gas fee.
The process of Ethernity Chain A-NFTs is simple
- An artist creates the digital artwork of an influencer/icon
- The artwork is authenticated by the influencer/Icon
- Both agree on profit share and the share to charity
- The artwork is made available through sales and auctions
- Charities and ERN holders get a share from every NFT transaction
Three parties are benefiting mainly from these sales. The first being said are the artist and the influencer, the second is the Ethernity being a middle man or marketplace, and the third and last are the charities and ERN holders.
Conclusion
Fundamentally, the project is strong and with more sportsmen and celebrities coming in it can prove to be the next BNB coin and more due to the unique use case and deflationary model of the token. Ethernity is a giant step towards the A-NFT which provides proof of ownership and is a guaranteed way of leveraging blockchain technology. With big names like Jason Hauser, the famous artist, Ethernity will pave its way to being a giant ecosystem in the crypto space and so will raise the ERN’s token price.
more to read
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Passive Income From NFTs In 2022
NFT World News Social Media: Twitter, Instagram, Telegram, Tiktok, Youtube
sources: ethernity
author: Rene Remsik, mnmansha
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
