Enjin received $18.9 million to launch its blockchain

The Enjin team raised $18.9 million to launch the Polkadot-based NFT token and Efinity's own blockchain. Representatives of the company are confident that such a step will significantly improve the sale of games.

The latest round of funding for the Singapore-based company was led by Crypto.com, Fenbushi, DeFi Alliance, DFG Group and other industry representatives.

Another step on the part of Enjin on the way to the active development of NFT in South Korea was the partnership with Ludena Protocol. They are the creator of GameTalkTalk's social platform, which helps players communicate with each other.

Four years ago, Enjin developed the ERC-1155 NFT token standard and is now occupied by the Paratoken firewall. The company said it would allow any coin to be transferred from any blockchain to Efinity, after which it could be used inside Polkadot. In addition, the Efinity blockchain will use the unique Efinity Token (EFI) coin.

Enjin's technical director specified that the company's financing will be provided by the sale of NFT tokens. The roadmap will be presented a little later, and the launch of the first phase of the team's project is scheduled for early 2022.

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