Enjin floats $100M Efinity Metaverse Fund to boost NFT marketplace

Quick Take

  • Metaverse fund will go towards early-stage support for Enjin ecosystem partners.
  • Enjin said the fund is part of the company’s commitment to an open metaverse.

Enjin has announced the creation of a $100 million fund to boost the development of its planned metaverse.

According to the announcement issued on November 4, the fund dubbed the Efinity Metaverse Fund will be used to support gaming and non-fungible token (NFT) developers in the Enjin ecosystem.

Enjin launched the Efinity ecosystem as a blockchain for NFTs on the Polkadot network back in March. At the time, the company secured $18.9 million in a funding round led by cryptocurrency exchange service Crypto.com.

Detailing plans for the metaverse fund, Enjin s