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Ethernity is a platform that offers authenticated and licensed NFTs featuring well-known figures such as Lionel Messi and Shaquille O’Neal. It has announced a Layer-2 solution on the Ethereum blockchain.
This development aims to address the challenges faced by major brands in adopting blockchain technology.
Ethernity Unveils Layer-2 Blockchain
The new Ethernity Chain Layer-2 solution will enhance privacy, lower transaction costs, and simplify user interfaces. It will include security measures and utilize AI for implementing Digital Rights Management (DRM) controls. This aims at preventing counterfeit trading and protecting creators’ intellectual property.
Nick Rose Ntertsas, Co-Chief Executive Officer at Ethernity, stated that the move to Layer-2 will improve how entertainment brands engage with their audiences using Web3 technologies. He highlighted the intention to offer developers a more navigable, sustainable, and secure environment.
“Our goal is to revolutionize how entertainment brands engage with their audiences through Web3 technologies. With this evolution into a Layer-2, we are expanding our capabilities and providing a navigable, sustainable, and secure environment for brands to create cutting-edge entertainment products and experiences,” Ntertsas stated.
Ethernity Chain has been recognized for its role in NFT, particularly with licensed digital collectibles. The upgrade to Layer-2 is designed to enhance privacy and improve overall engagement and interaction within the entertainment industry.
The solution includes AI-driven security features, reduced gas fees, and full compatibility with the Ethereum Virtual Machine (EVM). This facilitates easier access for users and global entertainment brands.
Looking ahead, Ethernity is preparing to launch several projects on this new infrastructure, including the Fanable App, a marketplace for real-world asset collectibles set to be available on mobile platforms soon. Exorians, a new sci-fi franchise and Web3 game, and 0xLoans, a peer-to-peer lending protocol using NFTs as collateral, are part of their upcoming initiatives.
This strategic move could impact how the entertainment sector integrates with Web3 technologies, offering new opportunities for both enthusiasts and brands.