Ethernity Chain is a community-driven, decentralized platform specializing in producing limited edition nonfungible tokens and trading cards. ERN is the ticker symbol of this platform's ERC-20 native utility token.
In its debut collection, Ethernity Chain released signed NFT-based portraits of celebrities called authenticated NFTs. These Ethereum-based aNFTs were sold in the platform's marketplace via auctions or direct sales. A part of the profits from these aNFT sales went to charities of the celebrities' choosing.
ERN is the standard token used to purchase digital art on the platform. It can also be used to buy physical collectibles, to stake for rewards or to participate in the platform's governance decisions. Ethernity Chain also has a farming option for its users by which ERN tokens can be used to farm STONES, which then be used to buy NFTs.
The total supply of ERN is 30 million tokens. Of this, 9.2 million tokens were pre-mined and distributed at a private-round price of $0.275. Additionally, 1 million tokens were distributed via an initial DEX offering, or IDO, on PolkaStarter. Finally, 3.6 million ERN were allotted as staking rewards for holders.
On March 15, 2021, Ethernity Chain executed a liquidity rewards program to incentivize the ERN/ETH liquidity pool on Uniswap and distribute more ERN tokens.
Users can obtain ERN by exchanging other cryptocurrencies based on the relative ERN price, and they can use ERN to purchase aNFTs. However, 70% of the profits from aNFT sales are locked to refuel the staking rewards pool. Since the ERN price depends on the value of these aNFTs, ERN charts can show high volatility.
Nick Rose Ntertsas is the founder and acting CEO of Ethernity Chain. Ntertsas has formerly worked as the chief digital officer at Global Wildlife Conservation and was one of the early-stage investors in the e-scooter company Bolt.
Ethernity Chain has worked with several celebrated names from music, sports and entertainment, including Lionel Messi, NHL star Alexander Ovechkin, Nas, the Winklevoss twins, MMA legend Anderson Silva and many more.
In early 2021, the Ethernity Chain team completed a private fundraising round with the help of strategic investors that included Morningstar Ventures, Black Edge Capital, Spark Digital Capital and more. Then, on March 8, 2021, the platform released its first NFT-meets-DeFi project via a public sale on Polkastarter.
The Ethernity Chain platform functions as the intersection of a DeFi platform and an NFT marketplace. It specializes in producing digital art authenticated by prominent public figures and then sold as aNFTs.
The ticker for the native token of Ethernity Chain is ERN.
Artists can upload their art to the platform, which is then authenticated and converted to an aNFT. Limited editions of that aNFT are put up for sale, which users can then buy with ERN. ERN tokens can also be used for staking and farming within the platform's ecosystem.
For example, STONES, another Ethernity Chain ecosystem token, can be bought and farmed with ERN to be later used to redeem curated aNFTs.
You can buy ERN from OKX exchange. OKX offers the ERN/USDT trading pair.
Before you begin trading with OKX, you need to create an account. Then, to trade ERN/USDT, click "Basic trading" under "Trade" on the top navigation bar.
If you do not have USDT, you may buy USDT with your preferred fiat before swapping it for ERN in the trading terminal.
Alternatively, visit our new OKX Crypto Calculator. Select ERN and the desired fiat that you would like to convert to view the estimated live conversion price.