Efinity is a next-generation blockchain-based project dedicated to the empowerment of non-fungible tokens, digital assets, and collectibles. The Efinity platform was developed by Enjin Blockchain, the creator of the ERC-1155 Token standard and Kickstarter of the NFT revolution. Efinity is the first cross-chain network that Enjin has developed, originally using the Ethereum blockchain. There is an end to the search for the best NFT platform for businesses and developers.
The Efinity platform, built on the Polkadot network, is designed to enable the development of multi-chain NFT institutions and provides an independent economic framework, state, and data framework. The Polkadot platform will support NFT’s Web 3.0 infrastructure while maintaining security and low transaction rates. Developers confront exorbitant costs, strict smart contracts, and no interoperability in the current infrastructure, which causes many of the troubles.
There are no incentive programs for actual users in the NFT era, as users are limited to price fluctuations for earning. Efinity proposes the NFT highway as a solution to this problem, by eliminating general computing and blockchain networks in order to focus on token creation, transfer, and purchase. We have an Efinity hub that accepts a variety of multi-chain ParaTokens, including fungible and non-fungible tokens.
A linear distribution of tokens begins on August 4, 2021 and lasts for 9 months
Tokens worth $100M
Methods of Funding
Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and
Crypto.com Capital, DFG, Hashed
A price analysis of the EFI
With EFI or Efinity tokens, transaction fees on the blockchain will be paid in the Efinity network, which is cross-chain NFT. The EFI Token began launching in early 2021, and subsequent to that Efinity raised $18.9 million MC in private sales. Coinlist will host the public sale of Efinity. The ICO price is $0.20 USD, and a 100 million supply will be available for distribution during the public sale. Coin list has previously hosted several token sales, and similarly, the token for Efinity has been very popular with investors.
As with other iconic projects that have followed similar paths through CoinList, such as Casper Network (CSPR), Mina Protocol (MINA), and Rally (RLY), the Efinity Token sale is expected to follow in their footsteps. CoinList’s success rate has further confirmed the new interest among crypto investors in projects with real-world potential and use cases.
As part of the upcoming token sale, the Efinity team will raise its fourth round of funding. Seed Round: $3 million venture capital investment from 3% of the total supply. Early Round: $8.4 million at a $120 million fully diluted market cap valuation. Strategic Round: $7.5 million, bringing the valuation to $150 million. Among its investors are Crypto.com Capital, DFG, and Hashed.
Simplicity is a key aspect of Efinity technology. To operate on the network, users do not need a blockchain wallet, and the network’s fees are designed to remain in the background. It takes just six seconds for transactions to be confirmed, resulting in both scalability and rapid transaction confirmation times. By leveraging this technology, a push towards mainstream adoption will be made.
In contrast to Bitcoin (BTC), Ethereum (ETH), and other blockchains that reward miners, Efinity rewards everyone equally. The EFI token is awarded to NFT creators, traders, developers, and early adopters with the goal of spurring Efinity’s growth.
With Polkadot’s protocol backing, Polkadot is superior because the protocol allows any NFT from any chain to be moved to the network, thereby boosting its features, fees, and speed. As a result of Efinity, a wide range of industries can use NFTs, allowing them to unlock trillions of dollars worth of true and digital assets that are currently illiquid. With the EFI token, Efinity provides a decentralized governance model.
The EFI token holder will be able to participate in the governance process, which will allow them to participate in the debate via voting. Holders of EFI Tokens can stake their tokens to earn rewards or participate in incentive programs.
Would It Be Wise To Invest In Efinity (EFI)?
A wide range of organizations and companies use Enjin’s NFT ecosystem to increase audience engagement and growth, including global brands like Microsoft and Binance. Using Enjin, hundreds of game developers and app makers make 3D games, augmented reality experiences, and sci-fi adventures with NFTs.
Efinity is a good project with real promise, and its adaptability is evident. The project was conceived and designed by Enjin, a company in the market for about a decade. There is a chance that the NFT database will be combined with their existing user base. Therefore, it is poised to grow rapidly, and the majority of other NFT platforms will soon be obsolete. There are several projects that use NFT, and it is still relatively new.
Make sure you understand what the risks are before you take any action. The price of the platform is quite likely to be hacked and drop to negligible or even reach the moon. Therefore, relying solely on the advice of others is not the best way to proceed. Make your own research also