Enjin has managed to transfer over 200 million NFTs from Ethereum and its sidechain JumpNet to the Enjin Blockchain. The transferred volume includes more than 118 million Ethereum-hosted and more than 101 million JumpNet-hosted NFTs.
New features added during migration
In a move announced in June, Enjin launched its own blockchain, explicitly designed for functions related to NFTs, such as transfers and royalty allocation.
The transition to Enjin Blockchain introduces several new features, such as built-in royalties and ‘Fuel Tanks’. Of “Fuel tanks”, developers have the opportunity to offset gas fees for their users, potentially reducing the cost of transactions in the ecosystem. Enjin also plans to facilitate free transactions within its ecosystem for three months.
Strategy for efficient migration
For this large-scale migration, Atlas Development Services, a key contributor to the Enjin Blockchain, used a unique strategy to avoid high gas costs. Instead of deleting Ethereum NFTs and posting new ones on the Enjin Blockchain, a snapshot was used. This method allows users to claim their NFTs on the new blockchain.
Users can claim their NFTs on the Enjin Blockchain by signing with their Ethereum wallet, eliminating the associated gas fees. This system means that the original NFTs remain on the Ethereum networks. However, holders are advised to consider the NFTs on the Enjin Blockchain as the official ones, marking a notable step in the NFT space.
Enjin’s strategic leap
Enjin’s successful migration of more than 200 million NFTs from Ethereum to its native blockchain represents a major milestone in the evolving digital asset landscape. By introducing innovative solutions such as built-in royalties and ‘fuel tanks’, Enjin is not only improving the user experience but also setting a new standard for NFT transactions and management.
The strategic approach to migration, led by Atlas Development Services, demonstrates a progressive method to overcome the challenges of high gas rates, a common barrier in the blockchain world.
This move, coupled with the potential for broader adoption of blockchain in the gaming industry as highlighted by industry experts, puts Enjin at the forefront of NFT innovation.