02/07/2021 Enjin's EFI token sale nets $20 million as NFT aspirations grow

EFI is the native cryptocurrency of Efinity, a Polkadot-based parachain developed by Enjin. The token sale, which was open to retail investors, sold out in just two-and-a-half hours.

EFI is the native cryptocurrency of Efinity, a Polkadot-based parachain developed by Enjin. The token sale, which was open to retail investors, sold out in just two-and-a-half hours. 

A public sale of EFI token on CoinList netted Enjin $20 million in proceeds, setting the stage for a successful launch of a nonfungible token, or NFT, network on Polkadot. 

McDonald’s Collaboration Sparks Doodles NFT Floor Price Surge
NBA legend Shaquille O’Neal signs $11M Astrals NFT settlement
Big Time Studios to Push ‘Play-to-Earn’ Through Binance NFT Marketplace

A total of 40,089 users participated in the token sale, which closed in just two-and-a-half hours, Enjin announced Thursday. Over 600,000 users had registered for the sale, making it oversubscribed by 15 times.

With the sale, Enjin has now raised $38.9 million in support of Efinity, the Polkadot-based blockchain for the NFT industry. Enjin’s first EFI raise netted the blockchain company $18.9 million from investors that included Arrington XRP Capital, BlockTower, DFG Group and others. 

Efinity has been designed to support both fungible and nonfungible tokens from any blockchain, including Polkadot and Ethereum (ETH). It boasts of an estimated 1,000 transactions per second, which means it has the potential to solve the cost and speed constraints of existing NFT and Ether-based protocols. 

Maxim Blagov, Enjin’s CEO, described NFTs as “the future of digital ownership, adding that Efinity is “the latest entry in our robust ecosystem to carry that future forward.” He further explained:

“As a scalable, hyper-connected blockchain with next-generation features, Efinity will provide the infrastructure needed to harness NFTs with ease, and allow creators to focus on the creative process.”

The NFT boom in 2021 helped to significantly boost the price of ENJ, Enjin’s native cryptocurrency. The token returned a staggering 1,700% in the first quarter, including an eight-fold return during the month of March. 

Since peaking at $4.00 on Apr. 9, the value of ENJ has corrected more than 70%. 

 
Arts

https://cointelegraph.com/news/enjin-s-efi-token-sale-nets-20-million-as-nft-aspirations-grow

Interesting NFTs
Jamaica Magnificat
Heyo! My name's Jamaica Magnificat. I once peed on Marie Antoinette's cat. They had it coming. Some people say I'm the Samwise Gamgee of the group. In time you'll learn how purrfect I am.
Genesis
José Delbo sent me his striking pencil sketch and powerful inked work, which I then interpreted in oil on canvas. I wanted to create a very painterly piece with obvious brush marks etc, but I was also aiming for a nostalgic feel, a kind of 1980’s superhero comic book look, the kind I grew up with. My goal with this animation was to try to recreate, in part, the creative process that both artists went through with the visual information I had. I was able to showcase my painting process more accurately as I could take photographs of my progress throughout. Consecutive images could then be layered like brush strokes over José’s drawing to create the impression that this was one continuous artwork from pencil, to ink, to completed painting. The representation of the line sketch at the beginning, then pencil/ink and lastly the paint layers being applied demonstrate both artists’ struggle for the right lines, tone, form, and colour until the work is finally completed. As the oil was still wet with each photograph the glare of my studio lights can be seen in the brush strokes. Eventually, the figure emerges and as it does, our hero comes to life, looking directly at the viewer -- but is he grimacing in approval or disgust? We will never know for sure as just before he can say anything, white paint is brushed across the canvas entirely and the process begins again. Only the bat is quick enough to escape.
#60092
By OthersideDeployer
Hope
CONGRATS!
The Damage #1/25
What's the damage?