Enjin, a Singapore-based blockchain platform for non-fungible tokens (NFT), has raised $18.9m from a consortium led by exchange platform Crypto.com.
Blockchain and digital asset investment firms Digital Finance Group (DFG Group), BlockTower and Arrington XRP Capital were among the other investors.
In 2009, Enjin launched the Enjin Network, a gaming community platform, before raising $18.9m through an initial coin offering to develop a suite of blockchain products and the Enjin Coin (ENJ), an Ethereum-based cryptocurrency used to directly back the value of Enjin-powered blockchain assets.
Now Enjin has set up Efinity as an NFT blockchain built on Polkadot with a new token standard called Paratoken and hence its own native token called Efinity Token (EFI).
After a 1,700% year-to-date price rise, ENJ holders can swap them for EFI and so complete transactions on the new NFT network.
