Ethernity Chain
Crypto Overview
Purpose and Utility
Ethernity Chain is a platform that authenticates and licenses digital artwork and collectibles, particularly NFTs. The ERN token serves as the native currency for purchasing authenticated NFTs, particularly from notable figures in sports, entertainment, and art. The platform claims to donate a portion of proceeds to charitable causes.
Business Model Evaluation
The core business model revolves around creating and trading authenticated digital collectibles, with a focus on celebrity-backed NFTs. The platform acts as a marketplace and authentication service, which aligns with halal principles as it involves the exchange of digital assets with clear ownership rights.
Real-World Adoption
The platform has secured partnerships with various celebrities and athletes, including Muhammad Ali Enterprises, Tony Hawk, and several football stars. The marketplace remains active with regular NFT drops and trading activity.
Platform Development
The project maintains regular development activity, focusing on platform improvements and new NFT collections. The team consistently releases updates and new features for their marketplace.
Token Distribution and Governance
ERN tokens are used for marketplace transactions and platform governance. The token distribution includes allocations for team members and advisors with standard vesting periods, which is typical for blockchain projects.
Additional Considerations
The platform's focus on authenticated digital collectibles and charitable giving aligns with Islamic principles. The marketplace operates transparently, and the exchange of digital assets represents real ownership transfer.
Crypto Impact
To assign a comfort level investing in Ethernity Chain from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Ethernity Chain.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.