Enjin recently announced that it has set up a $100 million fund to accelerate its development in the metaverse space.
In the announcement published today, it was stated that the fund, called the Efinity Metaverse Fund, will be used to support game and NFT developers in the Enjin ecosystem.
Enjin’s move comes after Facebook and Microsoft’s Metaverse move.
While the $100 million fund is expected to be used for the development and integration of projects in the Efinity and Enjin ecosystem, the following statements were used in the announcement:
“We have created a $100 million Efinity Metaverse Fund to embody our support for our ecosystem partners and make the decentralized Metaverse a reality.
Metaverse is everywhere these days.
Social media platforms, media outlets, and forums like Reddit were flooded with news that Facebook is Meta, after which everyone from Microsoft to Electronic Arts announced their plans to build the Metaverse and integrate NFTs into it.
At Enjin, we believe the Metaverse should be decentralized.
Today, we are proud to announce this $100M fund.”
ENJ continues to trade at $3 as of our news time.
*Not Investment Advice.