Ekta, the Blockchain Project that Truly Integrate the Physical World with the Web3 World, Acquired a Funding of $60 Million

Place/Date: - July 1st, 2022 at 12:02 pm UTC · 5 min read
Source: Ekta

Ekta, the Blockchain Project that Truly Integrate the Physical World with the Web3 World, Acquired a Funding of $60 Million
Photo: Ekta

On June 17 this year, Ekta acquired a funding of $60 million, led by Global Emerging Markets, a New York-based alternative investment group. The amount of this round of financing is quite remarkable, especially under the recent market climate, and it demonstrates the market’s recognition of Ekta’s mode.

Ekta, one of the first blockchain projects that truly integrate the physical world with the Web 3.0 world, aiming to Tokenize real-world assets.

Back to Ekta itself, its three biggest visions are as follows:

  • Firstly, to break through the barriers which have long been separating the Web 3.0 world and reality.
  • Secondly, the company has quietly spawned many products to materialize those goals, such as to protect the natural resources upon which humanity relies, and to obtain sustainable benefits from their protecting and managing them.
  • Thirdly, to distribute assets and resources and improve people’s quality of life.

And these visions are far from empty slogans, and ever since its inception.

Infrastructure

Ekta released staking dApp

In December 2021, Ekta released its first product, Staking DApp. It is Ekta’s reward system for early adopters. Users can provide liquidity and stability to the entire Ekta ecosystem by staking EKTA Token, and they receive generous interest in return. According to the official data, the APR of the staking pool amounts to 18%, with a lock-up period of 60 days.

ekta

Ekta launched EktaChain – the cornerstone of ecosystem

The EktaChain main network was launched in January 2022. It is based on Hyperledger Besu technology and allows secure, high-performance processing of transactions in public networks. It has 16 nodes and can execute 400 transactions per second in theory. With the development of EktaChain, the number of nodes and TPS will continue to increase. The blockchain browser EktaScan was released at the same time,which allows users to view all transaction and block history on EktaChain.

Ekta launched EktaBridge – ecological cross-chain bridge of Ekta

As a new public chain, EktaChain is still relatively weak in its ecological construction and infrastructure. Therefore, interoperability is essential for the current EktaChain. Thus, EktaBridge was officially released in just one month after the main net was launched.

EktaBridge is a cross-chain bridge that breaks through the barriers between EktaChain and other blockchains. Users can connect to EktaChain from other networks, which enables cross-chain interaction between main networks.

Core Ecosystem

In addition to the above-mentioned products that have been released, Ekta still has a number of products under development. Some have yet to be officially released, and they are the real core components of Ekta.

Ekta portal

ekta

Ekta Portal is the world’s first plug-and-play end node, which adopts a Plug to Earn model where users simply plug in and start earning passive income.

Ekta Portal rewards will be distributed linearly for ten years at a rate of 10,000 EKTA per day. This rate will remain the same regardless of how many Ekta Portals are running. This means that the more rewards users can earn the sooner they start using the project.

Ekta Portal consists of dual elements in itself – the physical Ekta Portal device as the RPC endpoint, and the Ekta Portal NFT as the unique key to activate the device. It guarantees the privacy, censorship resistance, uptime and decentralization of the network.

Ekta real estate

Ekta has partnered with real estate developers in Bali to tokenize real properties they own and sell them to global customers. However, these real estates are still too expensive for most and the threshold of investment is too high. Therefore, Ekta innovatively created F-NFTs to solve the problem.

Unlike traditional NFTs, each F-NFTs can be decomposed into many smaller NFTs, which means that people can only purchase part of the property ownership of the house, which significantly lowers the threshold for acquiring physical assets.

In this way, users can purchase tokenized real estate within their acceptable price range and simultaneously generate passive income through rental returns and appreciation of the asset itself.

However, Ekta’s ambitions go far beyond this. Applying F-NFTs to the real estate sector is just Ekta’s first attempt at tokenization. In Ekta’s plans, these F-NFTs could be extended to forests, protected areas, coral reefs, or any object in the real world. By tokenizing these natural assets, natural resources can be better protected and human beings will also obtain sustainable benefits from nature at the same time.

MetaTrees

ekta

MetaTrees is a blockchain game dedicated to connecting the virtual world with the physical world. It hopes to incentivize people to protect the environment through tokenization and games.

MetaTrees adopts the PLANT-TO-EARN mode, which enables players to rip the benefits of digital assets while protecting the environment.

Users can earn digital assets and Verified Carbon Units (VCUs) while playing the game., and every VCU earned represents one ton of CO2 removed from the atmosphere. This is achieved through Ekta’s collaboration with environmental and afforestation projects.

The focus of this game is to guide people to rethink social values, redefine their way of life, and reshape the natural world, so as to create a society codependent with nature.

Conclusion

From some of its designs, it can be sensed that Ekta has always been implementing its core concepts – returning to reality, protecting nature, and distributing wealth more fairly.

But it is also true that Ekta is still a developing project and it still has a long way to go in many aspects. However, judging from its current development, we can clearly feel that Ekta is unconfused about its direction. It really captures one of the biggest pain points of today’s crypto ecosystem, that is, the problem of connecting itself with reality. Ekta has responded to this problem by bonding encrypted assets with real ones.

The effectiveness of this method will require plenty of time and projects to reveal, but the logic behind it is hard to ignore. Therefore, we might as well wait and see about the development of Ekta.

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