Blockchain News

Physical NFTs Now a Reality on Enjin’s Efinity Blockchain

Uniqly, a pioneer in the NFT (non-fungible token) ecosystem, has announced to join hands with the leading blockchain-powered gaming community Enjin to bridge the gap between digital NFTs and the real-world mainstream cryptocurrency market. The project aims to utilize the cross-chain NFT technology of Enjin in building the Uniqly ecosystem on the Efinity platform. The Uniqly ecosystem powered by the UNIQ token functions as an escrow service and an NFT generator that enables users to materialize NFTs into tangible items.

Apart from building the Uniqly ecosystem on the Efinity blockchain, the project will also focus on enhancing the technical boundaries of the NFT ecosystem. The new NFT platform aims to bring tokenized media and arts under the same platform putting them on products like hats and T-shirts with 3D printing. This will allow NFTs to be supported by physical commodities that can be seen; the NFTs can be exchanged for various tangible items, which means that these digital assets can be realized for something tangible.

Accordingly, a limited-edition designer collection of NFT shirts (each having a unique serial number), redeemable via token burn process, will be launched this year to mark the onset of building the NFT based ecosystem on the Efinity blockchain. Users will be able to choose from multiple available designs, and then they can easily put them into the tier from where they want to purchase the products. Soon after the selection, they will be assigned more t-shirts of that specific design from that tier.

The debut NFT auction will be launched by Uniqly on May 12, with tokens exchangeable for T-shirts from an exclusive bracket, each with a randomly generated and unique design. There will be 10,000 NFTs offered on sale at 17:00 hours and 16:30 hours for users who signed up for Uniqly’s whitelist. The price will start at 0.06 ETH that will increase to 0.4 ETH as the number of T-shirts purchased increases. The T-shirts, sweatshirts, masks, hats, etc., will bear QR codes that will link the products to the respective tokens on the Etherscan page.

This is not the first time Enjin is backing any project that aims to revolutionize the NFT ecosystem. Over the years, Enjin has established itself as one of the pioneering organizations in developing blockchain ecosystems and NFTs. The Enjin, along with its ERC-1155 token, has been supporting multiple projects, helping them efficiently mint and adopt NFTs.

This is one of the innovative ways the world is looking forward to putting NFTs into use. With the help of their robust blockchain infrastructure of Enjin, the Uniqly team can process quicker, smoother, and more secure transactions. The cross-chain NFT technology, along with the unique tools and services of Enjin, will be the major contributing factor for the fast growth and development of the Uniqly platform on the Efinity blockchain.

Edward Nash

Edward Nash is an editor and analyst with over 10 years of financial market experience. Prior to joining CoinNewsSpan, he worked in several famous financial institutions. He has been active in the cryptocurrency market since 2011, specializing in technical analysis of current crypto trends and offering analytical opinion-based pieces.

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