Ethernity Chain announced a plan for IDO on Polkstarter. Pokstarter will handle the NFT DeFi project’s fundraising process, and public users can buy $ERN tokens to invest in Ethernity Chain.
The IDO process by Ethernity Chain is the second step for fundraising after it has successfully raised private funds from some significant investment firms.
Ethernity Chain plans to provide a platform for buying and selling various NFTs on-chain. The IDO will help it find the required money for faster development and promotion.
Raising Money in a Fully Decentralized Manner
Fundraising for blockchain projects has seen various shapes in the past years. ICO was one of the most famous ways for teams to find individual and enterprise investors. But it faced lots of scrutiny because of the scams that happened in the past years.
Now, IDO is introduced as a more secure way to raise money for these kinds of projects. Pokstarter is one of the leading platforms to provide the IDO opportunity for teams.
Ethernity Chain is the latest project to leverage the platform for fundraising. It will initially launch on Polkstarter, and interested users can buy $ERN tokens on that platform.
Ethernity Chain has successfully raised money from strategic investors like Morningstar Ventures, Black Edge Capital, Spark, Woodstock, and GBV. In other words, the first phase of fundraising is finished, and the team is now looking for ways to raise more money from individual users. It gives the chance to participate in the project from the first phases to the Ethernity community.
Polkstarter, a platform built on Polkadot, is an excellent option for blockchain teams looking for fundraising or auctions. It provides the opportunity to create cross-chain pools and auctions in a decentralized manner. The decentralized and interoperable environment in Polkstarter decreases the risk for token holders. Earnings and rewards will be more for investors and token holders in this platform, too.
Ethernity Chain plans to merge DeFi features with NFTs. It has been successful to partner with famous names in the blockchain ecosystem. According to the press release:
“To date, Ethernity Chain has joined forces with the Winklevoss twins, Cameron and Tyler, Swedish DJ and record producer Alesso, sports tycoon Michael Rubin, soccer players Christian Vieri and Paolo Maldini, and others to promote collectible works by digital artists including Mad Dog Jones, Bosslogic, Klarens, and many others.”
Ethernity Chain claims to provide a pipeline to rare and valuable digital collectibles (NFTs) in a decentralized, secure way. Regarding the considerable interest in NFTs, we can expect tremendous growth for Ethernity Chain.