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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