Next generation blockchain network dedicated for NFTs and blockchain gaming
Efinity, the next generation gaming blockchain by Enjin, will come to the Polkadot parachain ecosystem around March 11, 2022. The Efinity community has locked enough DOT tokens in favor of the proposal, beating competing projects during the sixth Polkadot auction.
This is quite a big deal for Enjin and Efinity. A Polkadot parachain is an advanced layer-1 blockchain, connected to a network of other parachains. This allows platforms, communities and economies to improve their interoperability and connectivity. Transaction processing also happens across the entire multichain network, all at low cost and with high speed.
Efinity will have its own token, EFI. It currently has a value of $1,01, down 0,5% over the past week. The token is already trading on Crypto.com and SushiSwap, exchanges where users can also find the RADAR token.
Efinity big for blockchain gaming
The Enjin ecosystem has always been about bringing NFTs to mainstream gaming, but network congestion on the Ethereum blockchain made it difficult to build on that vision. Therefore they launched Jumpnet, an Ethereum sidechain, earlier this year. On top of that will come Efinity, a Polkadot parachain that connects with various blockchains.
At the core of what Enjin and Efinity are building, is the idea that NFTs or game assets need to transfer smooth and swiftly between users. In addition, as is the vision of Enjin, some NFTs can be used in various games. That’s what makes the Enjin ecosystem so interesting. It offers games like The Six Dragons, Space Misfits, Lost Relics, 9 Lives Arena, Dungeon Universe and the list goes on.
Enjin has been one of the earlier believers in blockchain gaming. In 2021 the blockchain gaming market has grown considerably, reaching 1.4 million unique active wallets per day at the time of writing. While Ethereum gas fees have been outlandish, gaming thrived on alternative blockchains like Wax, BSC and Polygon. Gaming NFTs represent 20% of the $23 billion NFT market, and that market share is likely to grow. That’s $4,5 billion in NFT trading volume, not even counting the value flowing in utility and governance tokens like GALA, SAND, AXS, MANA and so on.