Ethernity Marketplace Review
Ethernity Marketplace is an NFT Marketplace where you can trade limited edition NFTs and trading cards created by new artists. The NFTs or trading cards will be authenticated by "icons". The marketplace is launching soon (meaning early 2021) and is registered in the Cayman Islands.
The blockchain that Ethernity Marketplace will be built upon is that of their own native token: the ERN Token.
The following step chart describes the process of NFT creation to NFT-sale quite nicely, at this particular platform:
What is an NFT Marketplace?
An NFT Marketplace is a marketplace for NFT. So far so good. But what is an NFT?
NFT is an acronym for “Non-Fungible Tokens”. Something which is fungible is replaceable. For instance, one kilo of 24 karat gold is – at least in theory – replaceable with any other kilo of 24 karat gold. When something is non-fungible, it means that it is unique, and not replaceable with any other item out there.
Although NFTs are conceptually similar to cryptocurrencies, these digital assets might represent antiques & artworks, collectables like trading cards, and other items with unique features. These tokens are stored cryptographically in a blockchain network for authentication and validation. Even when transacting, each token is sold as a whole, unlike cryptocurrencies which are divisible into smaller units. NFTs lose their value when split into smaller portions, however, they can be duplicated by the artist and each additional copy can be sold separately (but the total number of duplicates will then always be known).
Ethernity Marketplace Focus
The key focus of Ethernity Marketplace is, as mentioned above, limited edition NFTs and trading cards authenticated by "icons". It is not entirely certain yet what "icons" means, but we're assuming that it will be famous entrepreneurs, athletes, musicians and the likes.
Layout of Ethernity Marketplace
Different NFT Marketplaces present their NFTs, the latest bid and the remaining time of an auction etc. in different ways. What you are most comfortable with viewing and using is up to you and no one else. As the Ethernity Marketplace has not launched yet, we are not yet able to show you how the layout will look like (where you compare and place bids on different NFTs). As soon as Ethernity Marketplace is open to the general public though, we promise you that we will post descriptive pictures here in no time.
Ethernity Marketplace Fees
When you buy an NFT somewhere, it is customary for the relevant NFT Marketplace to charge a fee for enabling the sale. This fee is typically a percentage of the NFT's sale price. This can be compared with how regular art galleries normally take a share of the sale of any paintings etc. hanging in the gallery when a sale is executed.
At Ethernity Marketplace, you will have to pay 5% (on average) to Ethernity Marketplace. In addition to this, you will have to pay marketplace fees/gas fees, amounting to roughly 5%.
Accordingly, if you purchase an NFT worth USD 90 at Ethernity Marketplace, you will normally have to pay USD 100.
Ethernity Marketplace Payment Methods
A few of the NFT Marketplaces out there accept deposits and payments via credit or debit card, and some even accept PayPal-deposits and withdrawals.
Ethernity Marketplace doesn’t allow withdrawals or deposits through credit/debit cards or PayPal. Accordingly, you need to have a previous holding of the cryptos supported by Ethernity Marketplace in order to be able to interact on this particular marketplace.