Ethernity (ERN) is an effort to cash in on fans’ insatiable appetite for sports and entertainment collectibles.
Thus, Ethernity claims to be the “world’s first authenticated & licensed” NFT platform. The platform includes a marketplace that sells digital nonfungible token (NFT) cards images.
Currently, Ethernity is focusing on images similar to baseball cards or trading cards. For example, they have AFA Argentina football legends, Shaquille O’Neal, Luis Suarez, Dan Marino, , and Dak Prescott cards. There are also images based on movie James Dean and the icon DeLorean sports car of Back to the Future fame. There are also some images from the Heavy Metal comic books.
Ethernity Collectibles for sale
Oddly, there are also images from the Associated Press or AP, America’s oldest newswire service, which has 160 years worth of iconic news photos. For example, they have an NFT of the iconic image of US Marines raising the flag on Iwo Jima during World War II. That NFT sells for $57,450 on Ethernity’s marketplace.
There are also NFTs of the US Space Force, Marilyn Monroe, and bizarrely the Winklevoss Twins. The card commemorates the Twins’ Bitcoin (BTC) investments and portrays them as superheroes.
Oddly, NFTs of Mohamad Ali and Skateboard Legend Tony Hawk are in the entertainment section. Additionally, there is some original artwork by Jason Heuser.
Hence, unlike some of its competitors, Ethernity (ERN) actually has some NFT collectibles for sale. Moreover, you can apparently buy the NFT collectibles with US dollars.
Ethernity has plans to sell avatars in the future. No details of the Avatars are available. They are also planning an Ethernity mobile app.
The Ethernity (ERN) Marketplace
The business plan for Ethernity is to partner with famous brands, sports icons, entertainers, and digital artists to create NFTs. Ethernity operates markets and auctions for NFTs.
They will release limited editions of authenticated NFTs for sale in Ethernity’s marketplace. The Ethernity marketplace allows authenticated NFT (aNFT) owners to sell collections.
Ethernity users buy Ethernity (ERN) and use it to buy certain aNFTs. Users can farm to earn Stones which they can redeem to buy exclusive NFTs. They claim Ethernity locks in 75% of the profit sales on a long-term basis. This profit the staking platform and generates rewards for users.
Users can stake Ethernity’s liquidity pool, farm Stones, do Fixed Staking, and perform satoshi staking. The staking is used to generate liquidity, which makes Ethernity’s marketplace work.
They also claim users can sell physical collectibles and participate in real-world experiences and events with ERN. Ethernity works with the Polygon Bridge. The Polygon Bridge is an app that allows the Metamask, Coinbase, Bitski, and WalletConnect wallets to store cross chain assets. Cross chain assets connect different blockchains, for example, Ethereum (ETH) and the Binance Smart Chain.
Currently, users can purchase Ethernity (ERN) through Coinbase, Binance (BNB), Crypto.com, OKX, KuCoin, Huobi, Gemini (ironically owned by the Winklevoss Twins), Uniswap, and Gate.io. Thus, they are trying to make it easy to buy and use Ethernity.
So what is an NFT, anyway?
A non-fungible token is a record on a blockchain that conveys rights to a physical or digital asset.
In other words, you can describe an NFT as a digital deed of ownership. For example, Ethernity’s Luis Suarez NFTs convey ownership in Luis Suarez collectibles. Other collectibles Ethernity’s NFTs convey ownership to include James Dean’s autograph available for $131,30, a $1,313 James Dean 3D icon, and a $1,197 James Dean Digital Gold Medal.
I don’t know what the demand for these collectibles, but somebody thinks there is a market for them. Given the prices, people pay for some sports collectibles. For example, the 1952 Mickey Mantle baseball card that Heritage Auctions claims sold for $12.6 million 28 August 2022. CNN claims the Mantle cards is to the most expensive piece of sports memorabilia ever sold.
How Big is the Sports Memorabilia Market?
Hence, there is a market. Although many people will claim collectors are suckers spending fortunes for worthless items. However, those suckers pay actual money for those items.
The Sports Memorabilia Market was worth $26.1 billion in 2021, Market Decipher estimates. Moreover, the sports memorabilia market could grow to $33 billion in 2022 and $227.2 billion by 2031, Market Decipher claims.
Interestingly, Market Decipher includes NFT Sports Collectibles in the Sports Memorabilia market. Market Decipher also places Sports Trading Cards in the Sports Memorabilia market. Ethernity is trying to tap both markets by selling NFT Sports Trading Cards.
What Value Does Ethernity Have?
Cynics will say there’s a theoretical market for Ethernity (ERN) but is there an actual market for it? Well, Mr. Market seems to think so.
For example, Ethernity (ERN) was CoinMarketCap’s fourth most trending cryptocurrency on 1 October 2022. CoinMarketCap gave Ethernity a $3.44 Coin Price, a $54.638 million Market Capitalization, a $103.068 million Fully Diluted Market Cap, and a 24-Hour Market Volume of $70.287 million on 3 October 2022.
They base those numbers on 15.904 million ERN Circulating Supply, and a Total and Maximum Supply of 30 million ERN. The Circulating Supply accounts for 53% of ERN’s Total Supply. Ethernity was CoinMarketCap’s 343rd largest cryptocurrency on 3 October 2022.
In contrast, Ethernity was CoinGecko’s 391st ranked cryptocurrency on 3 October 2022. CoinGecko gave Ethernity Chain (ERN) a $3.55 Coin Price, a $53.058 million Market Capitalization, a $103.672 million Fully Diluted Valuation, a $69.949 million 24-Hour Trading Volume, and $5.549 million in Total Value Locked on 3 October 2022. They base those numbers on a Circulating Supply of 15.561 million ERN and a Total and Maximum Supply of 30 million ERN.
So yes, Ethernity offers some value. If you are seeking a cryptocurrency and DeFi app, that could cash in on sports collectibles and NFTs. Ethernity could be it.