31 Dec Enjin’s Efinity Won Polkadot’s Sixth Parachain With $214M Raised
Enjin is wrapping up 2021 in grand style as its scalable, decentralized, and cross-chain NFT infrastructure, Efinity, emerged as the winner of Polkadot’s last parachain auction for the year.
Thank you to everyone who has supported us in our endeavor to bring #NFTs to Polkadot.
To Efinity and beyond! pic.twitter.com/n2ffJEr53C
— Enjin | We’re Hiring! (@enjin) December 30, 2021
Over $214 Million Raised
Efinity won the sixth parachain slot after raising almost 7.7 million DOTs worth over $214 million from more than 8,600 stakeholders who locked their funds in favor.
Congratulating the project for the win, Polkadot noted that Efinity will go live on March 11, 2022, at the beginning of lease seven, alongside the winners of the following five auctions that will be held before the onboarding.
Congratulations to @efinityio on winning Polkadot’s sixth auction!
Enfinity will be onboarded at block #9,388,800 [roughly March 11,2022] at the beginning of lease 7 with the other winners from auctions 6-11. Over 8.6K network stakeholders locked up DOT in favor! pic.twitter.com/vTKqR3XyhX
— Polkadot (@Polkadot) December 30, 2021
Building the Next-Generation NFT Marketplace
Efinity is a project developed by blockchain gaming company Enjin as a cross-chain NFT infrastructure that creates ecosystem interoperability and incentives for users that engage with NFTs.
With nearly all the previous winners of Polkadot’s parachain slots DeFi-related, Efinity believes that “the interconnected blockchains – and indeed the world – needs an updated network for sharing digital assets.”
The cross-chain network describes itself as “the next-generation NFT marketplace.” It aims to leverage Polkadot’s ecosystem to build a decentralized metaverse that will allow users to exchange and transfer non-fungible tokens across blockchains.
Polkadot’s Parachain Slot Winners
Polkadot started its parachain slot auction on November 11, 2021, after years of planning. Parachains are an integral component of the Polkadot structure, and they represent custom and project-specific blockchains integrated within the network.
With an estimated 100 parachain slots available on Polkadot, winners will be able to connect to the network by leasing a slot on the Relay Chain for up to 96 weeks with an option to review.
Meanwhile, Polkadot’s seventh parachain auction is scheduled for January 7, 2022.
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