ArkStream Capital Portfolio Report for the 2nd Quarter of 2021 (2) — Efinity

ArkStream Capital invested in about 20 projects in the second quarter of 2021. We will start with a project introduction and track analysis to elaborate on why we invested in these projects.

Efinity

1. Project Introduction

Enjin kickstarted the NFT revolution on Ethereum. They wrote the code for one of the first-ever NFTs, created the advanced ERC-1155 token standard, and implemented ERC-1155 alongside a unique token infusion mechanism in the Enjin Platform, which now powers billions of digital assets on the blockchain.

Enjin believes NFTs can be utilized by virtually any industry, with Efinity potentially unlocking trillions of dollars in currently illiquid and unique real-world and digital assets.

Digital assets exist in the meta-universe of blockchain. Opening up the liquidity of multiple blockchains and NFTs will connect a wide ecosystem of creators, buyers, and sellers. Enjin’s vision is to build a scalable, cross-chain token network that would make creating, using, and trading NFTs far more accessible, affordable, and faster, thereby significantly increasing the volume of trade and adoption.

2. The current status of NFT public chain and Polkadot ecology

Data source Dapprader.com

Ethereum

The shortcomings are also obvious: extremely high mint fees, high transaction fees, slow speed, etc., are all barriers to entry for newcomers.

Polygon(Previously Matic)

Currently, in Polygon’s NFT ecosystem, most of the NFT projects are migrated from Ethereum, such as the Opensea — the largest NFT trading platform, Aavegotchi — a ghost collection game based on Aave, Decentral Games — the virtual world platform, F1 Delta Time and so on. However, the Polygon sidechain also has certain drawbacks. For example, the cross-chain operation is time-consuming. It takes about 7 days to cross-chain. Currently, exchanges like AscendEX( Bitmax) and Okex support polygon, which can save a lot of time of cross-chain operations.

Flow

Polkadot

Polkadot is one of the most popular cross-chain solutions in the market. Many public chains can share Polkadot’s node computing resources and achieve interoperability on the asset chain by becoming parachains. Therefore, Polkadot is very suitable for integrating NFTs with different protocol standards. Assets are chained together. Only by linking the islands of the NFT meta-universe can the potential trillion-dollar market value of the NFT market be fully released.

3. Why do we invest in Efinity?

Efinity is highly scalable. In contrast, the current operating speed of the Ethereum network is about 15TPS. Currently, transactions will be confirmed within 6 seconds to meet the fast response time required by mainstream applications. In the future, the runtime code of Efinity and Polkadot will be optimized to further improve TPS.

The purpose of Efinity is to become a highway for all NFTs, rather than an ordinary computing blockchain. In pursuit of this, it will support tokens from any network.

The creation, transfer, and transaction of NFT are the top priorities, which can truly reduce user operating costs. Transaction fees are only kept in the background, and end-users do not need a blockchain wallet, and there is no need to worry about how the network works. Users only need to concentrate on experiencing their collections.

The incentive layer is more suitable for the healthy development of the NFT network. Unlike Bitcoin or Ethereum, Efinity rewards network participants, not miners. From NFT creators and traders to developers and early adopters, everyone will receive EFI tokens as a reward; Efinity is built on Polkadot, allowing all NFTs on any chain to be moved to Efinity, breaking the information island and achieving NFT easily cross-chain and supercharge it with next-generation features, low fees and fast transaction time.

Built by the Enjin team, Efinity has rich market resources, a passionate user base, and has discourse power in the NFT field. Companies such as Microsoft (Azure Heroes), Samsung (Blockchain Keystore), and BMW (Vantage App) have integrated Enjin’s products and services. Efinity is an important part of ArkStream Capital’s layout of the NFT sector. The cross-chain NFT solution proposed by it is an indispensable underlying infrastructure in the NFT field.

About ArkStream Capital

Website: https://blockark.io

Twitter: https://twitter.com/ark_stream

Twitter: https://twitter.com/Block_Ark

Founded by @Block_Ark , ArkStream Capital is a token fund dedicated to grow Web3.0 unicorns. Our portfolio includes Efinity, Calaxy, HOPR, Xend, Litentry, etc.