Enjin hopes to diversify its meta universe through a new $100 million fund

Enjin, a blockchain gaming platform, is establishing a new fund to support the development of the Metaverse ecosystem and make it more decentralized.

Enjin is a startup company behind Efinity, a blockchain focused on non-fungible tokens (NFT). It has established a $100 million fund to support Efinity adopters and other related projects. Announce Thursday.

“It’s time for us to transform it into an official, public and conscious part of our growth strategy, and support the freedom, openness and decentralization of Metaverse,” Enjin said, adding that it will consider funding a seed round China makes equity investments and token purchases to cultivate the ecosystem.

The new fund called “Efinity Metaverse Fund” is also aimed at organizations that focus on cross-chain integration with the Enjin ecosystem and NFT cooperation projects on Efinity and Polkadot. The fund will also support game projects built on “all platforms” and other areas related to Metaverse, NFT and Efinity’s core infrastructure.

related: Sandbox raised $93 million to expand its NFT meta festival

Earlier this year, Enjin received $18.9 million in funding Investors, including the major cryptocurrency exchange Crypto.com, made its debut on Efinity, and its Polkadot-based blockchain is used in the NFT industry. Efinity’s native cryptocurrency EFI live After August 2021 20 million USD token sale In July.

Enjin’s latest move to enter the Meta Festival is to be further promoted after the social media giants at a time when the hype surrounding the concept of the Meta Festival is growing. Facebook officially changed its name to MetaThe concept of metaverse is used to describe the combination of technologies that create 3D virtual reality featuring activities such as online games and Hangouts.