Bali, Indonesia, Aug. 19, 2021 — Ekta, the first truly simultaneous on-chain and physical community, will soon launch its own cross-chain mainnet through the Ekta token initial DEX offering on Aug. 20. The IDO will be held on Ekta through its own decentralized application.
What is Ekta?
Ekta is the first cross-chain blockchain project to truly merge the physical world with the on-chain world to create value in both. In the Ekta ecosystem, physical assets can be represented as digital analogs through the launch of Ekta’s own nonfungible token platform and marketplace. This new 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 will provide a novel way for NFT creators and the owners of physical assets represented as NFTs to connect with consumers and brands through their digital collections.
In the world of Ekta, NFTs represent ownership rights, fractional ownership or use of land, starting in Southeast Asia. This could include a resort villa, a piece of beach frontage or a right to marina usage. Ekta will extend this functionality to real estate, property and utilities all over the world. For example, through Ekta, a fractionalized ownership in a forest could be made available in a virgin forest with a goal of offsetting carbon, or entire ecosystems could be protected through ownership on the blockchain.
Throughout Ekta’s early lifecycle, the team will look to work closely with land and real estate developers in Southeast Asia who are keen to collaborate on our vision of building a truly inclusive and sustainable ecosystem, where the digital and physical worlds collide. Through Ekta, communities from Indonesia and beyond will be empowered to come together through blockchain modules that enable transparent, instant and secure transactions that facilitate the efficient exchange of capital. Ekta’s focus on building and rewarding communities starts from day one.
Ekta rewards its communities
Ekta’s staking reward system is a unique way of rewarding its initial backers and community members while incentivizing Ekta holders to stake for the long term. At the beginning of the IDO, only 15% of the total supply of Ekta is released, with 10% allocated for purchase. The remaining 85% of Ekta is released slowly over time as smart contract mining rewards for Ekta holders who stake their tokens.
For example, 100 Ekta purchased at the IDO will become 531 Ekta in a year’s time. If the price of Ekta stays the same in its initial year, the APY will be 431%. For Ekta, building and rewarding its communities is key to achieving its vision of using blockchain to give everyone a chance at a better life.
Berwin Tanco, co-founder and CEO of Ekta, said:
“Ekta is the first blockchain project that empowers our users and communities to build a physical world with us, one that is centered around unity, entrepreneurship and decentralization. With Ekta, we can meaningfully raise the adoption of blockchain in Southeast Asia and empower socially responsible technology projects and entrepreneurs to find like-minded individuals in a collaborative and decentralized ecosystem.”
Through a combination of blockchain and decentralized governance systems, Ekta’s core physical infrastructure will be built with the future of democratized access in mind. These founding principles, closely mirroring the original tenets of blockchain itself, will serve as foundations of value on which all of Ekta’s communities and users will ultimately benefit.
In essence, instead of a solution looking for a problem as with many projects which have come before, Ekta will focus on the real-world — developed through the blockchain. Ekta’s next mission is to bring decentralized finance startups to its platform and launch its first components.
For more information, read the Ekta white paper here.
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Founded in 2021, Ekta is a blockchain that builds infrastructure for connecting blockchain with the physical world. It focuses on integrating traditional industries and businesses as well as physical assets so that the utility and value of blockchain can be universally accepted through a true utility in daily life. Ekta is located in Bali, Indonesia. Its blockchain solutions include decentralized exchange, decentralized finance, NFT marketplaces and tokenization of real-world assets.
To learn more, please visit Ekta’s website.