Enjin Completes Largest NFT Migration in History
Enjin has successfully transferred 200 million NFTs to its Enjin Blockchain, marking the largest NFT migration to date.
Migrating from Ethereum and JumpNet
In a press release, Enjin announced that it migrated over 118 million NFTs from Ethereum and an additional 101 million NFTs from the Ethereum sidechain JumpNet to its newly-launched Enjin Blockchain.
Commitment to Progress
The migration showcases Enjin’s dedication to progress and mass-market success. According to Rene Stefancic, Chief Operating Officer of Atlas and Enjin Contributor, continuous innovation, superior technology, and an unwavering commitment to user experience are key for Web3 to tap into the global gamer market.
Enjin’s Own Blockchain
Enjin, an NFT platform, previously announced the creation of its own blockchain. The new network will offer NFT-focused features such as transfers and royalty enforcement in the blockchain’s code.
New Features and Benefits
The transition to Enjin Blockchain brings several new features, including built-in royalties and “Fuel Tanks” that offset gas fees for users. The platform plans to provide complimentary transactions throughout its ecosystem for the first three months.
Seamless Interoperability
Enjin aims to enable games and applications to create their own Layer 1 chains within the larger Enjin Blockchain ecosystem, ensuring seamless interoperability. The company’s infrastructure is designed for efficient scaling and addresses the constraints of traditional blockchain infrastructure.
NFT-Focused Polkadot Fork
Enjin Blockchain is a dedicated NFT-focused fork of the Polkadot Network. It offers low transaction fees of just $0.005, can handle 5,000 transactions per second, and supports minting up to 2,000 NFTs in a single transaction.
Powered by Enjin Coin
The Enjin ecosystem is powered by Enjin Coin (ENJ), the native token of the Enjin Blockchain.
Complex Token Migration
Oscar Franklin Tan, Chief Financial Officer and Chief Legal Officer of Atlas and Enjin Contributor, described the NFT migration as one of the most complex in history. It involved fungible and non-fungible tokens from Ethereum, Polkadot, and Enjin Blockchain.
Hot Take: Enjin Sets New Milestone with Record-Breaking NFT Migration
Enjin’s successful migration of over 200 million NFTs to its Enjin Blockchain represents a significant milestone in the NFT industry. This achievement demonstrates Enjin’s commitment to innovation and user experience while addressing scalability challenges. With its own blockchain and NFT-focused features, Enjin aims to revolutionize the gaming and digital asset space. The ability for games and applications to create their own chains within the ecosystem ensures seamless interoperability. The low transaction fees and high capacity of Enjin Blockchain further enhance its appeal. As the NFT market continues to grow, Enjin’s migration sets a new standard for scalability and mass adoption.
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