Enjin pioneered the ERC-1155 NFT standard and shifted its focus to NFTs in 2017, building an ecosystem to add blockchain to games. Its core product is Efinity, a next-generation NFT blockchain on Polkadot designed for games, apps, enterprises, and creators. Efinity uses proof-of-stake, targets ~6-second transactions and plans to scale to 1,000 transactions per second; Enjin is also developing a Paratoken cross-chain standard and Snowfork bridges. The network will use an EFI token for transaction fees, liquidity, and yield farming through staking Enjin Coin (ENJ), with 15% of EFI supply allocated to ENJ stakers. Enjin reports hundreds of thousands of communities, more than 20 million users on its original platform, and about 40 game companies using its tools. The company has also published a five-step plan to enable carbon-neutral NFTs by 2030 and will direct the $18.9M raise toward launching and growing Efinity.

Total raised

$19M

Funding rounds

1

Latest round

Equity

Latest activity

Mar 2021