Ekta Token Rallies 2.9 Billion Percent Within a Week of Its Blockchain Launch

Ekta token managed a 2.9 billion percent rally in seven days but sits at a fraction of its all-time high.

Ekta Token Rallies 2.9 Billion Percent Within a Week of Its Blockchain Launch

Photo Credit: Twitter/ Ekta

Ekta delivered a mammoth return of 2,893,266,376 per cent in the last seven days

  • Ekta blockchain went live on January 11
  • The project managed to raise $5 million in seed funding
  • The Ekta blockchain bridges physical assets and communities on-chain

Ekta, a new cross-chain blockchain project that enables physical assets to be represented as digital analogues has shot into prominence after a 2,893,266,376 percent increase in value over the past seven days. The token's value surged from $0.00000001396 to $0.4039, as per CoinMarketCap data which means that an investment of Rs. 1,000 could ideally turn into returns Rs. 2,989.32 crore. The surge in the token's value appears to have happened shortly after the project finally launched its blockchain named EktaChain.

Ekta has managed to raised over $5 million (roughly Rs. 37.14 crore) in seed funding and private sales so far, but despite of the EKTA token's enormous rise in value, the price of the token has managed to climb to only a fraction of its all-time high of $10.42 (roughly Rs. 774). The Ekta token had reached its all-time high back in September 2021, after a 25 times rise within a short period.

Launched back in August 2021, Ekta began as one of the first blockchain projects to aims at merging the physical world with the on-chain world. In the Ekta ecosystem, physical assets can be represented as digital analogues, through the launch of company's self-developed NFT platform and marketplace.

This trading and exchange venue for NFTs will be a blockchain-based cross platform ecosystem for the sharing and trading of physical assets represented in a digital format. Through the Ekta NFT marketplace, Ekta provides NFT creators and the owners of physical assets to be represented as NFTs to connect with consumers and brands through their digital collections.

The NFTs that will be available on this platform will represent ownership, total or fractional, of a physical asset, such as real estate, a right to use a property, a piece of a beach frontage. Ekta will allow its users to tokenise this and more assets, ranging from utilities to properties located around the globe.

Unlike most token projects, Ekta's mission is to fuel the development of projects aimed at cleantech, smart tech, ocean startups, alternative medicines, permaculture, and aquaponics.

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Further reading: blockchain, Ekta token, cryptocurrency, NFT
Shomik Sen Bhattacharjee
Shomik is a senior sub-editor at Gadgets 360. As someone who's screened the consumer tech space for the past four years, he's now shifted focus to the crypto-verse. When not converting currency values in his head, you may find him in an intense five-a-side football match or grinding out the newest Destiny 2 weekly challenge on his Xbox. You can reach him for tips or queries at ShomikB@ndtv.com. More
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