Enjin project creates a $ 100 million fund for the development of the metaverse

The Enjin blockchain project team announced the creation of a $100 million fund to accelerate the development of itsfuture metaverse.

According to the statement, the fund, called the Efinity Metaverse Fund, will be used to support game developers and non-fungible tokens (NFTs) in the Enjin ecosystem.

In addition, the funds will be spent on creating the foundation for the integration of various projects and marketplaces within Efinity and Enjin's extended ecosystems.

Enjin launched the Efinity ecosystem as a blockchainfor NFTs on the Polkadot network back in March. At the time, the company received $18.9 million in a funding round led by cryptocurrency exchange service Crypto.com.

The fund will also be used to support projects focusing on interoperability between networks. Enjin will also aim to support blockchain games and NFTs.

In 2021, Enjin, like several other gamingtokens and NFT tokens, showed significant growth. According to CoinGecko, the value of the native asset of the ENJ project has increased by 2300% since the beginning of the year.

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