Enjin launches $100 million fund to build NFT metaverse

The blockchain company Enjin announced the launch of a $100 million fund to support NFT-based game developers in the Efinity ecosystem and accelerate the development of the metaverse.

Enjin launched the Efinity platform on the Polkadot network in March 2021, after raising $18.9 million in a round led by Crypto.com and other investors.

The company noted that following the recent rebranding of Facebook to Meta, many, including Microsoft and Electronic Arts, announced plans to integrate NFTs and build a metaverse.

According to the Enjin team, such a structure should be decentralized.

The Efinity Metaverse Fund, created by the company, is intended to support startups contributing to the development of an Efinity-based metaverse.

According to the statement, the fund will invest in projects that work on integrating into the Efinity ecosystem, with a focus on cross-chain solutions, blockchain games and NFTs.

“Our team will consider equity investments in early rounds of venture funding and the purchase of native tokens of a new project for potential use in our ecosystem,” Enjin explained.

In 2020, the company launched a platform for game development on the Ethereum mainnet.

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