Efinity

Efinity is a cross-chain [NFT](https://coinmarketcap.com/alexandria/glossary/non-fungible-token) platform developed by Enjin and built on [Polkadot](https://www.coinlive.com/coin/polkadot-new). Efinity was created as the next generation blockchain for digital assets with the aim of adapting to the challenges of the world of [non-fungible tokens](https://coinmarketcap.com/alexandria/glossary/non-fungible-token) (NFTs), according to the project. The main specialization of the Efinity project is the NFT space. With the protocol, traders and gamers can create, distribute, transfer, sell and buy NFTs. Efinity aims to remove barriers to entry into the NFT space/decentralized gaming, and to simplify user experience and digital asset governance. Efinity Token powers the entire Efinity ecosystem, EFI aims to prioritize the generation, transfer and purchase of tokens using an inter-chain infrastructure of protocols resulting in lower transaction fees. As for incentives, rewards on [PoW](https://coinmarketcap.com/alexandria/glossary/proof-of-work-pow) blockchains with NFT functionality go to miners who create/trade tokens, thereby forming a community. One of the long-term goals of Efinity is to become a hub for both fungible and non-fungible tokens, accepting tokens from any other chain, facilitating the pricing and exchange of NFTs, increasing transaction volume, and creating network effects. In December 2021, the project won the Polkadot parachain auction, and in March 2022, Enjin launched their flagship parachain Efinity on the Polkadot Relay Chain — a blockchain platform that provides a decentralized parachain network where people havecontrol over their data and identity.