- In a new use case, Ekta is bridging physical assets with the world digital world on its cross-chain mainnet
- Ekta launched its mainnet on January 11 after completing a $5m funding round from funding and private sales
- For the future, Ekta has outlined the whitelist for its NFT marketplace that would bring physical asset owners into the world of digital art
- The Ekta decentralized financial services will allow users to lend and borrow without collaterals
Believing that blockchain has the power to disrupt the prevalent systems but cannot exist without those systems, Ekta aims to bridge the physical assets and communities with the digital world of cryptocurrencies.
Not only a blockchain project, but Ekta also focuses on sustainability. Ekta is looking to develop natural capital conservation, cleantech, wise tech, ocean startups, alternative medicines, permaculture, and aquaponics.
Raising over $5m in seed funding and private sales, the vision and goal of Ekta has caught the attention of many investors. So, how has EKTA performed in the market since its launch?
Recent Developments
On January 11, Ekta announced its cross-chain mainnet on the back of a $5m funding round from funding and private sales. EktaChain is primarily for our partners to test and develop for this initial period.
Following its mainnet launch, Ekta has announced the release of a new website, migrating from ektaworld.io to ekta.io.
Ekta also launched the Ektascan to give users real-time blocks being validated. There are currently 22,300 Ekta blocks, with the network having an average block time of 15 seconds.
Despite just launching, approximately 62% of the 33,000,000 EKTA in circulation are currently staked in different pools.
At the moment, the public cannot access Ekta. However, Ekta has announced that the public will be able to access functions when the EktaBridge and EktaHybex launch.
Future Events
According to Ekta, its EktaBridge (to give users access to transfer tokens and/or arbitrary data from one chain to another) and Ekta Hybex (hybrid exchange) are expected to launch in the coming weeks.
As a new project, Ekta has announced that the platform would support the creation of non-fungible tokens (NFTs) in the future. On January 12, Ekta announced the incoming launch of its NFT Whitelist.
Through the Ekta NFT marketplace, Ekta will provide a novel way for NFT creators and the owners of physical assets represented as NFTs to connect with consumers. In addition, Ekta would be releasing a MetaTrees NFT collection in Q1.
Ekta has announced for the future, it will also provide decentralized financial services through a decentralized exchange (DEX) and lending & borrowing features. However, unlike conventional decentralized financial services, Ekta has revealed that its users will not be limited to collaterals being a requirement.
Price Updates
Ekta (EKTA), the native token of the Ekta ecosystem, currently trades at $0.3702, following an 8% drop over the last 24 hours. Ekta’s $4.5 million market cap places it as the 5,623rd largest cryptocurrency.
On the Flipside
- Ekta’s launch into the already established NFT and DeFi markets would mean the project would need to compete against already established projects in the sector
Community
Although just making its debut in the crypto space, Ekta has gathered strong followership, thanks to its visionary team and promising roadmap.
The Ekta community fondly calls themselves Ektarians and doesn’t hesitate to talk about the project. One user, @SimpliciaGarcia, wrote about the project;
I really do admire this project.Their purpose in making the world much better is beyond amazing. The wholesomeness is just WOW!! Can't wait for more to come, more power to the team!@cryptogmaria wrote about the project;— Simplicia Garcia (@SimpliciaGarcia) January 13, 2022
Primary reason why I fell in love with @ekta_ioI am impressed with their vision of helping people from lower income areas to have better access to capital, and to #Crypto, as well. Talk about inclusivity!More info: https://t.co/87rEI2CD2h#NFT #Metaverse #NFTs https://t.co/OSmv5Ep18VWhile the project still isn’t publicly available, Ekta keeps its community active with regular updates of the progress of the project and giveaways. Ekta recently tweeted;— Maria (@cryptogmaria) January 10, 2022
Congratulations to @canadianjacs, @drapin_dp, @MaynaWins, @mperkins37 & @jmesws for winning $1,000 worth of ETH.Stand by for an email to claimWhy You Should Care— Ekta (@ekta_io) January 14, 2022
By creating a bridge between both worlds, Ekta has the opportunity to be involved in multiple use cases and bring new economic opportunities for everyday people.
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