Philanthropy-focused blockchain platform Ethernity Chain (CCC:ERN-USD) is up more than 100% over the past 24 hours after launching via Initial Dex Offering (IDO) on Monday. The rally in ERN coin follows an announcement Ethernity will produce a collection of Muhammad Ali NFTs.
The announcement comes on the 50th anniversary of the “Fight of the Century” between Ali and heavyweight champion Joe Frazier. Proceeds from the Muhammad Ali NFT sales will be donated to the Ali Center. Yesterday, Ethernity conducted an IDO for its utility token ERN coin via Polkastarter.
Ethernity Chain is an NFT platform with an emphasis on raising money for charitable causes and has received endorsements from Gemini cofounders the Winklevoss twins as well as a number of celebrities. Its ERN coin is used for participation in exclusive sales and grants holders voting rights on policy changes to the ethernity network.
While the Ethernity platform is still in its infancy, Ethernity Chain conducted an NFT sale with digital artist BossLogic on Sunday, March 7, that crashed NFT marketplace OpenSea after causing a two-times surge in traffic.
ERN coin had seen trading volume of more than $36 million over the preceding 24 hours at the time of writing.
On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.