Ekta NFT Ecosystem Raises $60M from Global Emerging Markets (GEM)

Ekta NFT Ecosystem Raises M from Global Emerging Markets (GEM)

Ekta, one of the first layer-1 blockchain and NFT companies that bridge real-world physical and tangible assets to blockchain technology, has secured $60 million in an investment commitment despite a downturn in the market. With this investment commitment from Global Emerging Markets (GEM) Digital Limited, Ekta is set to continue building its ecosystem of platforms and products that connect real-world utility and value to end-users.

Ekta started in 2021 in the midst of COVID as a response to the economic crisis stemming from the global pandemic. Headquartered in Bali, Indonesia, the founding team saw an opportunity to decentralize real-world assets through blockchain technology and offer streamlined access to displaced communities, especially in Etka’s home region of Southeast Asia.

Berwin Tanco, founder and CEO of Ekta, said:

“We’re honored to have GEM in the Ekta family as we share a similar vision of how blockchain technology must evolve to truly make an impact on the lives of everyday people. While 10% of people on the internet hold crypto, we aim at onboarding the next 10% by building true utility and value for them.”

Since its start, Ekta has been building an ecosystem of platforms and products, including Ekta NFT Marketplace, a hybrid exchange called Hybex and nonfungible tokens (NFTs) backed by real-world utility with the mission of improving lives and communities.

Ekta NFT Marketplace

While the NFT space exploded in 2021, the market has seen a correction due to a lack of true utility for many projects. Ekta’s vision for its NFT marketplace is to connect real-world assets such as property, precious metals, music, media and art on its platform.

Ekta Island

Ekta Island is a prime example of Ekta’s vision of asset-backed NFTs. Based on a company-owned island minutes from Bali named Gili Gede, Ekta Island consists of 16 hectares of land, 46 hectares of ocean in its bay, and one of 20 marina licenses issued in Indonesia. Through NFTs, the Ekta team is developing the island as the world’s first blockchain-fueled physical space and offering fractional investment opportunities and access to Web3 for everyday people.

Ekta Portal

As the world’s first endpoint node that rewards operators with crypto, Ekta Portal is another product through which Ekta is bridging the real world with blockchain. By activating the device via an Ekta Portal NFT, operators can start earning from a daily rewards pool of 10,000 Ekta (EKTA). Owning an Ekta Portal NFT auto-whitelists tokenholders for all of Ekta’s NFT offerings, including Ekta Island and MetaTrees.

MetaTrees

MetaTrees is a blockchain game world where players can earn crypto while also playing an active role in preserving real-world natural resources. In addition to gripping lore and stunning artwork, MetaTrees also incentivizes reforestation initiatives, both on Ekta Island and in partnership with environmental organizations.

The commitment of new capital from GEM is a vote of confidence in Ekta’s vision of how blockchain technology must tie back to real-world assets in order to evolve. Ekta will use the new funding to continue building Ekta’s technical teams and resources and further develop its Ekta NFT Marketplace, NFT collections and hybrid exchange.

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Source: igaming