What is Efinity?
Efinity is a blockchain project of the next generation that aims to empower non-fungible tokens, digital assets, and collectibles. Enjin Blockchain, the developer of ERC-1155 Token standard and the NFT revolution’s Kickstarter backer, is working on Efinity. Enjin was initially built on the Ethereum blockchain, but as their concept for a scalable, cross-chain network grew, they chose to launch Efinity. The search for a platform that offers a developer-friendly NFT experience is over for businesses and developers.
Polkadot network-based EFI created to offer door for multi-chain The NFT initiative will have its own independent economic, political, and data foundation. Polkadot will aid in the development of NFT Web 3.0 infrastructure while keeping features like security, quick transactions, and low transaction rates. The current infrastructure is giving developers a lot of trouble because it requires them to deal with expensive fees, rigid smart contracts, and no interoperability.
Since users’ income is based solely on price fluctuations in the NFT era, there is no incentive programme for actual users. Efinity has proposed a new feature called NFT highway to address this issue by getting rid of general computing on the blockchain network and putting more emphasis on token production, transfer, and acquisition. The hub for all fungible and non-fungible tokens that accepts various multi-chain paratokens is called EFI.
Efinity Price Prediction
|Month & Year||EFI Price Prediction|
|Supported chain||Ethereum, Polkadot|
EFI ICO Overview
|Date of ICO||24th June 2021|
|ICO Price||$0.20 USD|
|Partners||Crypto.com Capital, DFG, Hashed|
EFI Price Analysis
EFI, or the Efinity token, will power the platform’s cross-chain NFT network by being used to cover transaction costs. EFI Token was introduced at the start of 2021, and EFI later raised $18.9 million in market capitalization through a private sale. The Coinlist exchange will host the public Efinity sale. A 100 million supply will be made available for distribution during the public sale, with an ICO price of $0.20 USD. Similar to previous Coinlist-hosted token sales that had a strong investor reaction, the Efinity token quickly sold out.
Holders of EFI tokens will be able to participate in the governance process, which will allow them to vote on issues and participate in discussions. A holder of an EFI Token may stake their token to participate in incentive programmes or to win incentives.
NFT, digital collectibles, or other assets that are utilising Blockchain technology are expected to take off in 2021. We are aware of Engin’s ground-breaking idea for a non-fungible token in which users can engage in trade, development, monetization, and marketing. Enjin and Uniqly teamed together to create Efinity with the goal of developing actual NFT. Efinity might be the largest blockchain project in the NFT category and rank in the top 300 projects by market capitalization volume. Since Efinity is concentrating on physical NFT, which is the future of asset storage, users respond to it more favourably.