Enjin wants to decentralize its metaverse with new $100M fund

The Efinity Metaverse Fund will focus on seed equity investments for projects building Efinity. Read the full article by: Helen Partz

Key Points:

• Enjin is starting a $100 million “Efinity Metaverse Fund” to support developers as well as other related projects in hopes to make their met averse even more decentralized. This fund will also go towards organization’s focused on cross-chain interoperability with collaborative projects between Efinity and Polkadot.

• “It is now time for us to turn this into an official, public, and conscious piece of our growth strategy, and support a free, open, and decentralized Metaverse,” Enjin said.

• Metaverse tokens, like Decentraland and The Sandbox, have all been on a tear over the last two weeks after the announcement that Facebook would be building their own metaverse and even rebranding to “Meta”. Facebook also own Oculus which will already put them ahead of a lot of their competition.

• Enjin also took in $18.9 million in funding earlier this year as they continue to pave the way for innovation in their met averse and NFT production. They are also a Polkadot based blockchain which makes them even more unique as it brings NFTs to DOT.