Enjin announced that it will set up a $100 million fund to develop the metaverse.
The platform released an announcement today. In the announcement, it was announced that a fund called Efinity Metaverse Fund will be created and the fund will be used to support game and NFT developers in the Enjin ecosystem.
Enjin launched the Efinity ecosystem for NFTs in Polkadot last March. The company launches crypto-asset trading platform Crypto. It raised $18.9 million in a funding round led by com. Enjin also provided details of the fund and said it aims to support an open and free metaverse.
The metaverse moves of companies are accelerating with the entry of Facebook into the industry. As we mentioned earlier, “Facebook represents its focus on the metaverse”. Meta” i, with the name change, had invested $ 50 million in the metaverse field. Following the news, giants such as Nike and Microsoft took similar steps.
Following the news, Enjin (ENJ) jumped from $2.78 to $3.30. ENJ is trading at $3.07 at the time of publication. ENJ also had a good start with Facebook’s metaverse move. The asset has gained 46% in the last seven days.