Enjin Blockchain, a platform for nonfungible tokens (NFTs), has recently migrated more than two hundred million NFTs from Ethereum and a sidechain to itself. Enjin revealed that it had transferred more than 118 million NFTs hosted on Ethereum and more than 101 million NFTs hosted on JumpNet, an Ethereum sidechain, to its mainnet, the Enjin Blockchain.
The NFT platform announced the development of its own blockchain in June. Enjin stated that NFT-centric functionalities, including royalty enforcement and NFT transfers, were incorporated into the blockchain’s underlying code by the new network.
Example of NFTs migrated to the Enjin Blockchain. Source: Enjin
Users will encounter numerous modifications during the transition, including the incorporation of royalties and the introduction of “Fuel Tanks,” a feature that enables developers to subsidize gas fees on behalf of users.
As per the announcement, the platform intends to utilize this functionality to provide users with three months of complimentary transactions throughout its ecosystem. On December 6, gaming industry executives provided commentary on the future of blockchain gaming and identified a number of Web3 adoption catalysts in the gaming sector.
Improvements in user interfaces and accessibility, according to Bartosz Skwarczek, the founder and CEO of G2A Capital Group, would appeal to a wider demographic of gamers. In a similar vein, René Stefancic, the chief operating officer of Atlas Development Services and a major contributor to the Enjin Blockchain, stated that Web3 could potentially “enter the three billion-strong global gamer market” by transitioning to a different blockchain.
Arthur Franklin Tan, the chief financial officer of Atlas, disclosed that the platform has adopted an alternative migration strategy in order to circumvent the “incredible amount of gas fees” associated with transferring more than two hundred million NFTs.
Tan stated, This method, according to Tan, permits users to submit claims without paying for petrol. However, one possible disadvantage is that the NFTs will remain on the previous networks rather than being destroyed in Ethereum.
“To avoid the incredible amount of gas fees for 200 million NFTs, instead of requiring users to burn the Ethereum NFTs before issuing Enjin Blockchain NFTs, which is how the normal migration would work, a snapshot was taken and users are allowed to sign with their Ethereum wallet to claim the Enjin Blockchain NFTs.”
Tan further stated, “Creators must request that holders refrain from trading them and recognize the Enjin Blockchain versions as the official ones.”
