Non-fungible token (nft) platform Enjin recently migrated over 200 million NFTs from ethereum and a sidechain to its own Enjin Blockchain.
In an announcement received by Cointelegraph, Enjin noted that more than 118 million NFTs hosted on ethereum, along with more than 101 million NFTs hosted on an ethereum sidechain called JumpNet, have been transferred to its mainnet called Enjin Blockchain.
In June, the nft platform announced the creation of its own blockchain. Enjin said the new network incorporated nft-focused features, such as nft transfers and royalty enforcement, into the fundamental blockchain code.
With the transition, users will experience several changes, such as built-in royalties and a new feature called “Fuel Tanks,” which allows developers to subsidize gas rates for users. According to the announcement, the platform will use this feature to offer users free transactions across its ecosystem for three months.
On December 6, executives working in the gaming industry weighed in on the future of blockchain gaming and highlighted several catalysts for Web3 adoption in gaming. Bartosz Skwarczek, founder and CEO of G2A Capital Group, told Cointelegraph that improvements to accessibility and user interfaces would attract a broader audience of gamers to Web3.
Similarly, Rene Stefancic, COO of Atlas Development Services, a core contributor to Enjin Blockchain, said the push to a different blockchain could allow Web3 to “tap into the three billion-strong global gamer market.” .
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Oscar Franklin Tan, CFO of Atlas, told Cointelegraph that to avoid an “incredible amount of gas fees” for transferring over 200 million NFTs, the platform has taken a different approach with its migration. Tan said:
“To avoid the incredible amount of gas fees for 200 million NFTs, instead of requiring users to burn ethereum NFTs before issuing Enjin Blockchain NFTs, which is how normal migration would work, a snapshot was taken and users can sign with their ethereum Wallet to claim NFTs from Enjin Blockchain.”
Tan explained that this process allows users to claim without paying for gasoline. However, one potential drawback is that instead of burning the NFTs on ethereum, they will continue to exist on previous networks. “Creators should ask holders not to trade them and consider the Enjin Blockchain versions as the official versions,” Tan added.
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