As per the latest reports, Enjin had recently carried out a public sale for the EFI token. Following the public sale, the firm has revealed that it has managed to generate a decent figure. According to Enjin, it has managed to generate $20 million from the sale of the EFI token.
The firm has also revealed that EFI token public sale was carried out through the platform known as CoinList. Enjin had announced that it was aiming to launch a non-fungible token (NFT) platform once it had raised a significant figure from the public sale.
Now that the firm has generated a significant figure, it wants to invest the proceeds in the development and launch of the NFT that will be based on the Polkadot network.
According to Enjin and data from CoinList, tens of thousands of users had participated in the public sale of the token. The data from CoinList confirms that there were a total of 40,089 users that had participated in the sale of the EFI token. With these many users participating in the round, it was bound to become a successful move for the platform.
One of the most surprising facts about the recent token sale is that the total number of users wanting to participate in the public sale round was way higher than 40,089.
CoinList later confirmed that the total number of users who registered to participate in the particular public sale round was 600,000. This means that the total number of participants wanting to take part in the public sale round was 15 times more than the users who managed to participate. This means that the particular token sale round was oversubscribed.
With the conclusion of the successful public token sale round, Enjin has managed to raise $38.9 million in total. The platform will be using these proceeds for the support and development of Efinity. Efinity is an NFT industry blockchain that is based on the Polkadot network.
This is not the first round that Enjin had held for the advancement of its project in the NFT second. Prior to the $20 million token sales round, it had held a fundraiser that had brought in $18.9 million for the project.
At that time, the investors who participated in the funding round were DFG Group, BlockTower, Arrington XRP Capital, and many more.
The purpose of the foundation of the Efinity platform is to design and support the creation of non-fungible and fungible tokens. The platform allows the users to manage the non-fungible and fungible tokens from any blockchain. Some of the major blockchains at present are Ethereum (ETH) and Polkadot (DOT).
The Efinity network boasts that a total of 1,000 transactions can flow through its network every second. This means that the platform is fully capable of fully avoiding any transaction speed constraints or high transaction fee costs.