Enjin ditches Ethereum, transferring 200 million NFTs to its native blockchain.
Enjin, a blockchain developer, has successfully migrated 200 million non-fungible tokens (NFTs) to its own blockchain platform, aiming to enhance the utilization of its network. In a recent blog post, Enjin announced that NFT holders can now claim their assets on the Enjin Blockchain using the updated version of the Enjin crypto wallet. As part of the migration campaign, users will not incur any transactional costs within the ecosystem for the next three months.
Atlas CFO Oscar Franklin Tan described this migration as one of the most intricate and unprecedented blockchain migrations, involving the transfer of both fungible and non-fungible tokens from Ethereum, Polkadot, and Enjin Blockchain. The Enjin team highlighted that the migration encompassed assets from numerous digital creators, including industry giant Microsoft. In a previous report, it was revealed that Enjin successfully transferred 118 million NFTs from Ethereum and over 100 million NFTs from JumpNet, a sidechain for Ethereum, to its mainnet known as the Enjin Blockchain.
The Enjin Blockchain is a public and decentralized blockchain developed by the Enjin team to provide creators with a more cost-effective means of hosting their NFTs on a distributed ledger. Additionally, the network operates with its native token called Enjin Coin (ENJ), which is currently trading at $0.33, according to CoinGecko data.
