Reshab AgarwalEFI token registered over $20 million in sales by going out of stock in just 2.5 hours. It is a polka dot-based native cryptocurrency that is developed by Enjin. They will soon launch their NFT network after the successful sake of the EFI token. The $20 million raised here will be really beneficial for launching the NFT platform properly. And seeing the enthusiasm of the investors regarding the token, I am pretty sure that the NFT network will be a hit as well.
The recent sale and NFT platform
In the sale of EFI token 600k users registered, and 40,089 users participated. This is why it only took 2.5 hrs for sale to end. After the $20 million raised through the EFI token, Enjin now has $38.9 million for the release of the NFT platform. They have raised the additional $18.9 million from investors Arrington XRP Capital, BlockTower among others.
The NFT platform based on Efinity is bound to be a hit because of the technology used behind it. It has the support of up to 1000 TPS which is higher than the current Ethereum based NFT protocols. At the same time, it will also bring support for fungible tokens. Since the platform is quite robust and has the ability to scale, it will make the NFT market much more accessible and advanced. The CEO of Enjin said that creators could focus more on making creative stuff rather than the technicalities.
Do you think that the NFT platform based on Efinity will be a success? And does the EFI token seem to be a good investment as it registered $20 million in sales? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Strike competes with Coinbase with extremely low transaction fees