At Enjin, we envision an advanced virtual economy, where non-fungible tokens (NFTs) are usable and accessible to everyone, everywhere.
Today, we announced a significant step toward that future: Efinity, a dedicated NFT blockchain, built on Polkadot.
Polkadot's decentralized, interoperable protocol, paired with development support by Parity Technologies, will make this NFT network and its next-generation features possible, from crafting and fuel tanks, to discrete accounts and the Efinity Swap AMM.
The tech is there, but expanding the possibilities of what NFTs are and what they can do will take more than just vision and code.
To help develop Efinity, we've raised $18.9M via a sold-out private sale of Efinity's native token, EFI.
Led by Crypto.com Capital, DFG Group, and Hashed, the funding round will support the Efinity parachain, network, and strategic growth of the ecosystem.
The private sale was also supported by BlockTower, Blockchain.com Ventures, Hypersphere, LD Capital, HashKey Capital, Arrington XRP Capital, Fenbushi, Iconium, D1 Ventures, Kenetic, Animoca Brands, DeFi Alliance, Digital Renaissance Foundation, CMT Digital, Capstone, Amaiya, Andromeda, BlockArk, GBV Capital Master Ventures, PNYX, and an extensive list of other firms and individuals.
We are humbled and grateful to have the support of an incredible group of forward-thinking partners who believe in our ideas and the potential for a truly decentralized, open digital economy.
“We are strong believers in the potential of NFTs and are confident the Enjin team will play a pivotal role in developing the infrastructure required to meet that potential. As a co-founder of Crypto.com, I understand how hard it is to bring game-changing ideas to life. We’re proud to have led this funding round and will continue to support Maxim and his team throughout their journey.”
— Bobby Bao, Co-founder and Head of Corporate Development & Capital of Crypto.com
“At DFG, we believe in supporting products that will solve major issues in Blockchain, such as efficient and low-cost transaction solutions in the gaming industry. The services offered by Efinity are a clear example of a much needed upgrade to a whole industry that will soon be completely placed on top of Blockchain and will need secure, trustless and verified transactions for a frictionless gaming experience. Finally, we hope that Efinity can develop a high-quality infrastructure in the future, and we look forward for it being able to develop a standard for the NFT field of the Polkadot ecosystem.”
— James Wo, CEO and Founder of DFG Group
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"Efinity will provide an opportunity for creator to mint multi-chain tokens and move them to other compatible blockchains hassle-free. Truly building tools for creators and developers to reach mainstream users and provide modern experiences without worrying about unpredictable business overhead caused by gas fees and multi-chain environments."
— Baek Kim, Senior Associate at Hashed
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“Choosing a winner in NFTs is difficult. We’re excited by Efinity because they’re building a platform with out of the box tools to make creator’s lives easier. This should benefit a pretty broad base of artists and game developers on the Polkadot network.”
— Jack Platts, Co-founder of Hypersphere
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"We've been working closely with the Enjin team for almost 3 years. They have an incredible ability to spot technology trends, particularly with regards to blockchain gaming and NFTs, where they've been an industry pioneer. Efinity is the logical next step for NFTs as it removes friction for both developer and consumer adoption and will help blockchain reach an entirely new userbase."
— Samuel Harrison, Managing Partner of Blockchain.com Ventures
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"Efinity is one of the best projects we came across, and we are proud of backing it from the very beginning. It is the missing piece that will bring the Enjin Platform to be usable by millions of users, and reduce the barriers to adoption for blockchain gaming. Users will no longer have to know what a wallet or smart contract is. It will be a seamless integration. Efinity will allow to embrace the blockchain as a new tool to build collectible assets inside of any game. The potential of the combined Enjin and Efinity tokens are amazing and will disrupt the way we think of NFTs and gaming."
— Fabio Pezzotti, Founder & CEO of Iconium
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"The Enjin team has proven solid credentials in the crypto-space and has already seen remarkable traction applying NFT-related technologies and standards to various business sectors. Having seen the vision and roadmap of Efinity, we are convinced of it pulling off a great coup on the mass adoption of NFTs. It is our honor to be part of this great cause."
— Roland Sun, General Counsel of Fenbushi Capital
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“We are very delighted to be an early investor of Efinity. It builds the brand new Paratoken standard and NFT infrastructure in Polkadot ecosystem, which unlocks the new possibilities of cross-chain NFT ecosystem. The team has deep understanding of the pain points for NFT participants and developers, as their project Enjin has proven to be one of the leading pioneers in blockchain industry. We believe they can provide a more user-friendly gaming/NFT experience, and further enable game developers to onboard the mainstream users.”
— Yu Zongmin, Investment Director of HashKey Capital
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"As the pioneer and creator of the NFT standard on Ethereum, Enjin has done remarkable work in the past few years to prove that they are the most successful and professional team in the NFT and gaming space. We firmly believe the biggest hurdles of Ethereum transaction fees and scalability can be resolved by Efinity, and enable mainstream adoption of NFTs in gaming. We are so excited to be involved with this ambitious project to make NFT economy affordable and accessible to everyone."
Yi Lihua, Founder of LD Capital
In this rapidly growing space, we're grateful to have a longstanding community and world-class group of partners supporting us on this journey, and we cannot wait to see what it brings.
If you're equally passionate about the present and future of NFTs, dig into our whitepaper and join the movement!
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