The largest NFT migration in history took place today (December 11th, 2023), as 200 million NFTs made the transition from Ethereum to the Enjin Blockchain.
This is one of the most highly anticipated and cathartic moments for all of those early OGs that minted hundreds or thousands of NFTs on Ethereum from 3-4 years ago!
A snapshot was taken on December 8th, 2023:
There are still many questions to be answered, such as what benefits Enjin MFT holders could get, as well as further utility from some of the early Enjin gaming weapons like Timeripper or the Epochrome Sword.
Singapore – December 11, 2023
In a landmark development, Enjin has executed the largest NFT migration away from Ethereum to date, transferring an astonishing 200 million NFTs to the Enjin Blockchain.
This shift includes assets from thousands of creators, notably including tech giant Microsoft, highlighting the tech industry’s growing demand for blockchain efficiency and scalability.
Effective immediately, NFT holders can seamlessly claim their assets on the Enjin Blockchain using the Enjin Wallet with a simple “Claim” click.
Post-migration benefits include Enjin’s network-wide fuel tanks, providing free transactions across the ecosystem for the next three months. Additionally, enforced on-chain royalties ensure fair compensation for creators, and a powerful API and development platform will simplify token integration into mainstream games.
“Enjin’s migration from its legacy solutions exemplifies the community’s dedication to progress in its pursuit of mass-market success,” said Rene Stefancic, Chief Operating Officer of Atlas, Enjin Contributor. “Only through continuous innovation, superior technology, and, most importantly, an unwavering commitment to user experience, can Web3 tap into the three billion-strong global gamer market.”
Enjin’s decision to launch a blockchain dedicated to NFTs, after six years of building on Ethereum, marks a significant milestone in the quest for scalability and affordability in Web3 gaming. Looking ahead, Enjin aims to empower games and applications to launch their own Layer 1 chains, which would be fully interoperable within the broader Enjin Blockchain ecosystem.
Enjin’s infrastructure is specifically designed to enable games to scale effectively, catering to mass market demands and bypassing the limitations of legacy blockchain infrastructure.
A specialized NFT-centric fork of the Polkadot Network, Enjin Blockchain addresses scalability issues by offering low transaction fees of just $0.005. This, combined with a throughput of 5,000 transactions per second and the capability to mint up to 2,000 NFTs in a single transaction, sets a new standard in NFT usability.
“Enjin’s NFT migration follows and completes its token migration,” added Oscar Franklin Tan, Chief Financial Officer and Chief Legal Officer of Atlas, Enjin Contributor. “This was one of the most complex, unprecedented blockchain migrations in history, involving both fungible and non-fungible tokens from Ethereum, Polkadot and Enjin Blockchain. Strong support from migrating holders secures the new Enjin Blockchain and expands governance.”
About Enjin
Since 2017, Enjin has been the world’s first end-to-end Web3 game development platform and ecosystem, centered around Enjin Blockchain and supported by a seamless app layer consisting of a wallet, marketplace, API, and advanced developer tools.
As a scalable, affordable, and feature-rich ecosystem, Enjin’s technology has seen wide application in blockchain games, apps, enterprise initiatives, and innovative marketing campaigns. The Enjin ecosystem is fueled by Enjin Coin (ENJ), the native token of the Enjin Blockchain. To date, over 200 million NFTs have already been created using Enjin’s tools.
Media Contacts
Rene Stefancic
Chief Operating Officer
Oscar Franklin Tan
Chief Financial Officer and Chief Legal Officer
Atlas Development Services, a core contributor to Enjin Blockchain
press@enjin.io
simonket@enjin.io
www.enjin.io