LOS ANGELES--(BUSINESS WIRE)--First paragraph, second sentence of release dated February 10, 2022, should read: The announcement follows a $20 million raise during its seed round, with investors including Riot Games Head of Creative and former League of Legends Lead Producer Thomas Vu, Fanatics owner Michael Rubin, Steel Perlot (CEO Michelle Ritter and Chairman Eric Schmidt), Kenetic, Black Edge Capital, Morningstar Ventures, Ripple, Algorand, Banter Capital and Polygon Studios, among others.
The updated release reads:
ETHERNAL LABS RAISES $20 MILLION IN SEED ROUND TO CONTINUE BUILDING AN NFT TECH, METAVERSE, AND PLAY-2-EARN GAMING GIANT BASED ON ETHERNITY’S LICENSED IP
The offering combines two NFT & metaverse marketplaces, a social platform for fan tokens, avatars, and white label solutions on a one-stop-shop virtual ecosystem
Ethernity, the original authenticated (aNFT) platform, is excited to announce Ethernal Labs, a first-of-its-kind incubator and technology studio leveraging the interactivity and utility of web 3 technologies. The announcement follows a $20 million raise during its seed round, with investors including Riot Games Head of Creative and former League of Legends Lead Producer Thomas Vu, Fanatics owner Michael Rubin, Steel Perlot (CEO Michelle Ritter and Chairman Eric Schmidt), Kenetic, Black Edge Capital, Morningstar Ventures, Ripple, Algorand, Banter Capital and Polygon Studios, among others.
Ethernal Labs will serve as an all-in-one destination for athletes, musicians, celebrities, and digital creators of all stripes to launch their own NFTs and community tokens, providing their audiences with exciting new forms of digital engagement. Through the offerings on Ethernal Labs, fans will be able to purchase unique collectibles and merchandise, access exclusive rewards and giveaways, and participate in the burgeoning world of experiences on the metaverse, all on a fully authenticated and secure blockchain platform.
Ethernal Labs is creating an entirely new ecosystem of decentralized apps to bring the world’s largest brands, artists, and individuals to the blockchain. Through these applications, Ethernal Labs will act as a studio-like gateway and creative partner in bringing notable figures and brands into the NFT & metaverse ecosystem through verified marketplaces for digital assets, exclusive real-world and virtual experiences, augmented reality offerings, avatar creation, metaverse integration, and P2E gaming. Plus, Ethernal Labs is pioneering cross chain interoperability across its verticals.
“Ethernal Labs is the frontrunner in connecting renowned IPs and P2E Gaming, enabling brands and artists to redefine ownership and engagement through blockchain technology,” said Thomas Vu, exec producer of Arcane and League of Legends. “The digital assets space will be bolstered by studios leveraging web 3 technologies, and Ethernal Labs will foster experiences that expands the possibilities of new metaverses.”
In the second quarter of 2022, Ethernal Labs is set to launch EyeCandy, a decentralized auction marketplace that is building a whole new creative economy within the blockchain ecosystem. EyeCandy will introduce an entirely new way for both traditional and digital artists to sell their unique single-edition 1 of 1 artworks and build a thriving collector community around their work.
Through Ethernal Labs revolutionary social platform Fanable, notable figures will be able to interact with their fans through fan token utility. Community members will have the opportunity to interact both with each other and with content creators through real-time polls and interactive opportunities, giving fans a voice in the decisions of their preferred creators, teams, and celebrities.
The Ethernal Labs ecosystem will be organized around the native ERN token, which will provide utility and access to users and partners across all of the platform’s offerings. Users will be able to use the token to buy and trade not only digital collectibles, but also in real life, virtual, and augmented reality experiences. Ethernal Labs is working to expand these offerings and provide exclusive and previously-unseen content from leading artists, media brands, and content creators bridging the physical and digital divide.
“We are incredibly excited to be pushing the metaverse forward with Ethernal Labs,” said Ethernity CEO and Founder Nick Rose. “The power of the ERN token, in conjunction with the variety of platforms and branches that will be available to users, offers the platform unmatched potential in terms of what we can offer to both users and creators. We hope to make Ethernal Labs a provider of gaming, art, and media - essentially, a studio system or incubator for the world of NFTs and the Web 3 creator economy.”
This announcement marks the latest move into virtual experiences for Ethernity. In October, Ethernity created the first virtual reality theme park with in-world commerce, in which users could participate in virtual experiences and auctions. As a cross-chain platform with the largest collection of authenticated NFTs available on any platform, Ethernity will be leveraging its market power with innovative technology and a desire to bring new experiences to consumers. Ethernal Labs offers a continuation of Ethernity’s vision of authenticated, utility-based NFTs, collectibles, and real-world and virtual experiences, all offered through the latest technology on the blockchain and in digital creation. Ethernal Labs: a studio-like model for the NFT and web3 ecosystem.
More information can be found at https://ethernallabs.com/.
Ethernity is the groundbreaking authenticated NFT project which auctions verified artwork featuring the top artists and stars from sports, music, film, gaming, tech, history, and entertainment. Each of these digital artworks is represented as a non-fungible token (NFT). The pieces feature well-known public figures and a portion of all funds raised from the endeavor will be donated to charitable causes. Ethernity combines the utility of DeFi and merges it with NFTs to create an exclusive pipeline to rare, collectable content from notable figures and well-established digital artists.