BitWell AMA | Enjin & Efinity: Building the NFT-Powered Metaverse
Recently, Efinity, the NFT public chain, won the 6th parallel chain slot auction in Boca, and on January 14, Bryana, the head of Enjin ecology, visited the BitWell community and brought a wonderful sharing with the theme “Enjin & Efinity: Building the NFT-Powered Metaverse”.
The following is a review of the full content of this community sharing:
Moderator: Catherine, VP of BitWell Overseas Market
1. Catherine：Could you tell our community a bit more about yourself and the Enjin project?
Bryana：Hi everyone, thanks for hosting! I’m Bryana, Enjin’s Head of Ecosystem Communications. I’ve been with the company for 3.5 years and have held various roles during that time, from PR and social media, to managing our enterprise client relationship with Microsoft, and supporting daily operations.
Currently, I’m helping build out our dedicated Ecosystem team, which aims to foster and promote and thriving community of Enjin/Efinity partners and game developers.
Prior to Enjin, I worked in marketing and business development for an IP-focused law firm and a leading NFL team.
If you’re not familiar with Enjin yet, we were founded in 2009 by our CEO Maxim and CTO Witek, who built a gaming community platform that grew to 20 million users (the Enjin Network). This software has processed millions of USD in virtual asset sales, so expanding into blockchain and the world of NFTs was a natural evolution of our business.
Through their work in the gaming space, they began to see common issues faced by the gaming community, which could be solved with blockchain.
In 2017, Witek wrote the code for one of the first ever NFTs, and following that authored the advanced ERC-1155 token standard which is used widely for NFTs today. Since then, we haven’t looked back — we’ve launched an entire product ecosystem for NFTs, including a minting platform, crypto/NFT wallet, marketplace, API and SDKs for game developers, and more!
2. Catherine：What are some of Enjin’s key achievements in 2021?
Bryana：2021 was an explosive year in the NFT space, and the technology we’ve believed in for years gained mainstream attention 🌟
Likewise for Enjin, it was an exciting year of growth and expansion, as we shifted toward a multi-chain ecosystem, worked with some incredible organizations and adopters, and continued development of our robust NFT product ecosystem.
To name a few:
We kicked off the year by ENJ becoming the first gaming/NFT token approved by Japanese financial regulators, and was listed on Coincheck Japan exchange. This was a huge milestone for us and speaks to the utility and fundamentals of ENJ.
We pivoted to a multichain ecosystem, launching our gas-free, carbon-negative JumpNet blockchain and announcing Efinity as an NFT blockchain on Polkadot.
In support if Efinity, we completed a $18.9M private sale and $20M public sale of its native token EFI, which is now listed on a variety of major exchanges.
Announced NFT.io, a brand new marketplace which will be launched with some exciting partners in Q1 of this year.
We reached a milestone of 100+ official adopters in our ecosystem (games, apps, NFT projects) — you can view some of the latest here
To reiterate our commitment to the environment, we joined some important organizations including the Crypto Climate Accord and United Nations Global Compact.
To cap off a great year, we secured Slot 6 in the Polkadot parachain auctions! With over 7.7M DOT contributed, this is a huge accomplishment and vote of support from the Polkadot community, and we couldn’t think of a better way to close out the Year of NFTs.
3. Catherine：Congratulations on winning the Polkadot parachain slot for Efinity! Could you explain what Efinity is, and why you’re building it?
Bryana：Thank you! It was an incredible way to ring in the New Year 🍾
Efinity is a blockchain purpose-built for NFTs, and it’s being developed on Polkadot.
Right now, blockchains and NFT platforms are fragmented and all speak a different language (not to mention issues like congestion and sky-high gas fees on legacy networks like Ethereum!) Efinity is meant to serve as a cross-chain highway to connect them all and help them communicate with one another. It will support NFTs from any blockchain.
Here’s a bit more on that:
With Efinity, you’ll even be able to bid on NFTs from any network, whether or not they’re listed for sale! See a rare Solana-based gaming item? Place a bid and they owner can decide whether or not they want to sell. This is meant to encourage price discovery, and help the market collectively determine true value of tokens and projects.
Efinity is fast, cheap (transactions costing mere pennies), and eco-friendly — which is a concern of many NFT skeptics — and includes features that will significantly lower the barrier to entry to NFTs. Right now, the process for getting involved in NFTs can be complicated and expensive for everyday / non-crypto users, and the same goes for blockchain games. Average gamers don’t know what a crypto wallet is, let alone how to set it up.
“Discrete accounts” is one of these solutions. Game developers will be able to let their players jump right in and start playing. It’s like a “Cloud” wallet that can be claimed at a later time by the player. The account could be originally owned by the developer, who can then pass ownership to the player once they’re ready.
4. Catherine：What are Enjin’s upcoming priorities? How is Enjin using Efinity to support and build an open, NFT-powered Metaverse?
Bryana：2022 is the year we will round out our scalable NFT technology stack with Efinity, NFT.io marketplace, and public launch of Enjin Beam, which is a QR code NFT distribution service. We’ll also be introducing major upgrades to our flagship Enjin Wallet app and platform.
We are over the moon to launch Efinity and let users begin interacting with the network. After winning Slot 6 in the parachain auctions, Efinity will be onboarded to the Polkadot network in March 2022! It’ll be fully integrated into all of our products.
We believe the future Metaverse will be a collection of various metaverses created by both decentralized and centralized companies and communities. Efinity is meant to serve all of them, connecting them in a scalable, usable way. We want everyone, everywhere to experience their own corner of the metaverse — and for any company, developer, or creator to build and contribute to it.
Paired with our products which allow you to deploy smart contracts without any blockchain experience, Efinity will make this possible. And it will help make NFTs in the metaverse as easy to use as smartphones are today.
Efinity will be an open ecosystem, governed by its community of supporters and developers. Any third-party developer or token holder can submit a proposal to add to the ecosystem or upgrade the blockchain itself, and every single EFI tokenholder can vote to decide.
We believe collective community wisdom makes the world a better place, and it will definitely make Efinity a better chain.
5. Catherine：What plan does Enjin have to further support game developers and their players?
Bryana：Our roots are in gaming. We are passionate about creating an open, collaborative community of developers, and providing them all of the proper tools, documentation, and resources they need to create, launch, and grow a successful NFT project. A few of the ways we hope to achieve this:
We launched a $100M Metaverse Fund to support games, DApps, and other NFT projects developing in the Efinity ecosystem.
We’re launching a brand new version of the Enjin NFT Wallet, which will include wider NFT and token support, powerful new features and integrations, and a vastly improved user interface and experience.
Efinity’s features like Discrete Accounts and Fuel Tanks, which will allow developers to ease users into NFTs and subsidize their transaction costs, so you can play games and the technical stuff will all happen in the background.
NFT.io marketplace which will make buying, selling, and bidding on NFTs easy.
Open-source developer tools (SDKs, and an open platform.
Opening and expanding our adopter program, fostering a collaborative ecosystem where developers can connect, support each other, and get all of the resources they need to launch their NFT project.
We want to equip developers and share their stories, highlighting the incredible and innovative work they’re doing with our tech behind them!
Please click the following links for further information about BitWell:
Visit us on https://www.bitwellex.com/