Metaverse News

Ethernity Raises $20 Million to Build out its Ecosystem

Celebrity focused NFT protocol, Ethernity, has raised an astounding $20 million via its latest round of seed funding. As a result, it will expand its operations to cover a wider range of Web3 products.

The money was raised through a number of individual investors, venture capital firms and blockchain companies. Thomas Vu, Michael Rubin, Black Edge Capital, Ripple, Algorand, and Polygon Studios and many others all played their part. As a result, Ethernity has launched its umbrella platform, Ethernal Labs, a new branch of operations which will oversea its wider Web3 development.

Ethernal Labs will build out a veritable suite of NFT and blockchain applications, taking the platform from a singular marketplace, to an all-in-one Web3 ecosystem. Plans include several marketplaces, celebrity fan tokens, avatars, an open metaverse, and an entire play-to-earn gaming sphere.

Furthermore, to keep things ticking over, Ethernal Labs will link up with the Ethernity Chain’s native token. Therefore, $ERN will provide governance and stability to the platform, paving the way for a meteoric rise throughout the coming year.

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