Enjin, a leading Blokchcain for play-to-win gaming platforms and NFTs, has confirmed that it has raised a $100 million metaverse fund for Efinity. According to the announcement, the cross-chain NFT network Efinity, built on Polkadot, will launch on December 2 at one of Polkadot’s parachain auctions, and if successful, Efinity will go live on the mainnet by the end of 2021.
Decentralized metaverse targeted
According to Enjin’s official statements, the $100 million fund is set aside to make the metaverse a reality. For this, the project wants to build Efinity with a team of leading developers of the industry. It was also reported that some preparations were made before the official announcement. Now it’s time to build a free, open and decentralized Metaverse.
Meanwhile, early investors of the project can earn bonus NFTs. According to the statements, Efinity supporters can now apply for crowd credit through Binance Binance. In the future, users will be able to stake ENJ, USDC, DOT, ETH and USDT for EFI rewards. Alongside the bonus NFTs, the developer team allocates 10% of the total EFI supply to crowd-credit rewards.
ENJ and EFI prices reacted immediately to the announcement!
Following the announcement, ENJ and EFI prices posted gains of over 10%. cryptocoin.com As we reported, Facebook’s rebranding as META ignited the price of related cryptocurrencies. Different metaverse coins are now firing up with new partnerships. At the time of writing, ENJ is trading at $3.05 and EFI at $1.67.
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