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Blockchain developer Enjin has transferred 200 million non-fungible tokens (NFTs) to its own blockchain in an effort to boost usage of its network.
in a ethereum-to-enjin-blockchain” target=”_blank” rel=”noreferrer noopener”>blog post On December 11, 2023, the Singapore-based company said that nft holders can now claim their assets on the Enjin Blockchain using the updated version of the Enjin cryptocurrency. As part of the migration drive, users will also be free of transaction fees across the ecosystem for the next three months, according to the announcement.
Oscar Franklin Tan, CFO of Atlas, said this was one of the “most complex and unprecedented blockchain migrations” as it involved the migration of fungible and non-fungible tokens from ethereum, Polkadot and Enjin Blockchain.
“Enjin's nft migration continues and completes its token migration. “Strong support from migration holders secures the new Enjin Blockchain and expands governance.”
Oscar Franklin Tan
The Enjin team emphasized that the migration included assets from thousands of digital creators, including tech giant Microsoft. According to a previous report, Enjin transferred 118 million NFTs hosted on ethereum, as well as more than 100 million NFTs on JumpNet, an ethereum sidechain that was transferred to its mainnet called Enjin Blockchain.
Enjin Blockchain is a decentralized, public blockchain, developed by the Enjin team for creators looking for a cheaper way to host their NFTs on a distributed ledger. The network also has its own native token called Enjin Coin (ENJ), which is currently trading at $0.33, according to data from CoinGecko.
