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Efinity
$0.02095
92.65%
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Efinity Price Converter
Efinity Information
Efinity Supported Platforms
| EFI | ERC20 | ETH | 0x656C00e1BcD96f256F224AD9112FF426Ef053733 | 2021-05-01 |
About Efinity
The Efinity Token (EFI) is the native token of Efinity, which is focused on being an NFT highway and not a general computing blockchain. The primary function of the token is for creating, transferring, and purchasing NFTs. Transaction fees on Efinity are designed to be minimal and stay in the background, so users can enjoy their NFTs without worrying about how the network operates.
Efinity is a cross-chain NFT (Non-Fungible Token) platform developed by Enjin and built on the Polkadot blockchain. Designed to solve various challenges plaguing the NFT space, Efinity aims to streamline the creation, distribution, trading, and management of NFTs. The platform focuses on user-friendly experiences, lowering barriers to entry in the NFT ecosystem. It is intended for a range of users, including traders, gamers, and digital asset creators.
Efinity was conceived and developed by the team at Enjin, co-founded by Maxim Blagov, who serves as the CEO, and Witek Radomski, the CTO. Maxim Blagov has a background in computer science and specializes in UX/UI design for interactive applications, primarily in the video game industry. Witek Radomski played a crucial role in developing the ERC-1155 token standard and integrating Enjin Coin (ENJ) into various platforms.
Efinity Token (EFI) is the utility token within the Efinity ecosystem. It serves multiple purposes, including payment for transaction fees, participation in governance decisions, and providing rewards for network participants. EFI holders can also engage in 'fuel tanks,' a feature that allows them to execute transactions on the platform at reduced costs. Furthermore, the token is used for staking, liquidity facilitation, and trading on Efinity.
Efinity aims to revolutionize the crypto and NFT landscape by making NFT transactions swift, cost-effective, and rewarding for all network participants. It envisions a future where NFTs are not merely collectible items but integral parts of various digital ecosystems.