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News
Ecosystem
November 4, 2021

Announcing the $100M Efinity Metaverse Fund

Announcing the $100M Efinity Metaverse Fund
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We've formed a US$100 million Efinity Metaverse Fund to formalize support for our ecosystem partners, and help make the decentralized Metaverse a reality.

These days, the Metaverse is everywhere.

Social media feeds, media outlets, and forums like Reddit have been flooded with the news of Facebook becoming Meta, followed by everyone from Microsoft to Electronic Arts announcing plans to build the Metaverse and integrate non-fungible tokens (NFTs).

At Enjin, we believe the Metaverse should be decentralized.

While the primary way we're trying to make that happen is to build Efinity, as a team of NFT pioneers and industry veterans with an established global network of adopters, we have also been informally supporting select partners by purchasing the native tokens of their games and projects.

It is now time for us to turn this into an official, public, and conscious piece of our growth strategy, and support a free, open, and decentralized Metaverse.

Today, we are proud to announce the US$100M Efinity Metaverse Fund.

Introducing the Metaverse Fund

The Efinity Metaverse Fund will aim to support Enjin and Efinity adopters, and other organizations working on:

  • Enjin Ecosystem Integration: Integrating with Efinity, the Enjin Wallet, NFT.io marketplace, and the rest of the Enjin ecosystem.
  • Metaverse Projects: Building collaborative NFT projects on Efinity and Polkadot, featuring assets usable across multiple projects and chains.
  • Gaming: Enjin was forged in gaming, all the way back in 2009. We'll support gaming projects on all platforms, as well as projects in adjacent spaces like mixed reality (AR/VR), esports, immersive entertainment, virtual events, and similar.
  • NFT DApps & Projects:  Applications such as collectibles, digital art, music,  tokenized data apps, and Web 3.0 and cloud applications.
  • Decentralized Infrastructure: Building cross-chain and multi-chain infrastructure.
  • Pioneering Projects: Going boldly where no one has gone before, and building in other areas related to the Metaverse, NFTs, and Efinity's core infrastructure.

Our team will consider equity investments in seed / Series A fundraising rounds and purchases of new project native tokens for potential use in our ecosystem.

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Featured Token Purchases

EnjinStarter

EnjinStarter is our affiliated launchpad for Efinity, and we purchased EJS tokens in their initial DEX offering. EnjinStarter incubates and accelerates early stage projects, particularly those building in the Enjin/Efinity ecosystem, and hosted the IDOs of Defina and Gaia in October 2021. Our team will review projects launching on EnjinStarter, including for future support as they grow. EnjinStarter also helps developers explore monetization through sales of NFTs.

Forest Knight

Forest Knight is a mobile fantasy turn-based strategy game in which players build teams of heroes to fight against evil in an unknown land of Chronville. The game was one of Enjin’s earliest adopters in 2018.

Kingdom Karnage

Kingdom Karnage, a turn-based NFT trading card game, was also among our earliest adopters in 2018. In May of this year, the team released its beta, integrating NFTs on Ethereum. High gas fees prompted Kingdom Karnage to make the switch to JumpNet, and the Ethereum-based in game assets were disabled and recreated. Enjin committed to be the first purchaser of Kingdom Karnage’s new $KK token.

Splinterlands

Splinterlands is a blockchain-based strategic trading card game featuring fighting monsters. The game surpassed 100,000 daily active users and 1.2 million transactions in August 2021.

Announcing the $100M Efinity Metaverse Fund
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