Blockchain
Enjin Announces $100M Efinity Metaverse Fund Ahead of Polkadot Parachain Auctions
Enjin, the leading ecosystem for NFTs, today announces a US$100M Metaverse Fund for Efinity, a cross-chain NFT network it’s building on Polkadot. Enjin is also bidding for Auction Slot 4 in Batch 1 of Polkadot’s Parachain Auctions, beginning on December 2nd, 2021. If successful, Efinity will begin operating on mainnet by the end of 2021.
Efinity’s US$100M Metaverse Fund will formalize support for its ecosystem partners, through equity investments in seed or Series A fundraising rounds, and purchases of project native tokens for potential use in the Enjin/Efinity ecosystem. The fund will support adopters, as well as other organizations building and integrating with the ecosystem. This fund brings Enjin and Efinity closer to making the decentralized, cross-chain Metaverse a reality.
Oscar Franklin Tan, Chief Legal & Financial Officer at Enjin, said, “Personally hearing our adopters’ stories is one of the most fulfilling aspects of my role at Enjin. These are early pioneers of NFT gaming, who built with us through the trenches as one-man studios and are now spreading their wings. We’re eager to harness the knowledge of our team and longstanding communities to support the decentralized metaverse in a more systematic way.”
Supporters of Efinity can participate in the crowdloan immediately via Binance. Enjin will soon allow individuals to stake their DOT, ETH, ENJ, USDC, or USDT for EFI rewards. The team has allocated up to 10% of the total EFI supply to crowdloan rewards, and early contributors will also receive an exclusive NFT bonus.
Witek Radomski, Co-founder & CTO of Enjin, added “Efinity will attract a mainstream audience of creators, gamers, and NFT collectors to the Polkadot ecosystem. We’ve addressed current barriers to entry in blockchain (usability, cost, throughput) with an incredibly powerful parachain and our seamless open-source development framework. Our intention is for Enjin to be an interoperable, decentralized gateway to the worldwide Metaverse. With the backing of our global community and EFI supporters, we invite anyone who shares this vision to get involved in the parachain auctions.”
Purpose-built for NFTs, Efinity provides class-leading scalability, with internal Alpha testing at 120 million NFT mints per block with six-second block times. In support of the cross-chain metaverse, Enjin is also developing the new Paratoken Standard, which is interoperable with all chains and token standards.
Earlier this year, the Efinity private and CoinList sales raised $38.9M, led by prominent backers Arrington XRP Capital, BlockTower, Crypto.com Capital, DFG Group, Fenbushi Capital, Hashed, Hashkey Capital, Hypersphere, Kenetic, and LD Capital. The Enjin & Efinity ecosystem features over 70 game and app developers, and hundreds of NFT projects such as Microsoft Azure Heroes, Lost Relics, Kingdom Karnage, Age of Rust, and 9Lives Arena. Many of these projects will be ported over to Efinity over time.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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