Cryptocurrency Q&A
What is EFI token?
What is EFI token?
Federica
Wed Nov 06 2024
|
5 answers
1216
EFI token, also known as Efinity Token, is a native token of the Efinity platform. It was launched by Enjin in 2021, aiming to solve high fees, low efficiency, and cross-chain interoperability issues in the NFT market. EFI utilizes the advanced Substrate framework and is seamlessly integrated with the Polkadot network, enabling efficient and low-cost cross-chain transactions. The token supports large-scale NFT minting and management and is backed by a strong community and industry resources.
5 answers
emma_grayson_journalist
Fri Nov 08 2024
Users can leverage EFI to buy and sell NFTs through the Efinity Marketplace, a platform designed to cater to the growing demand for digital collectibles.
Was this helpful?
178
97
Riccardo
Fri Nov 08 2024
Efinity serves as a metaverse infrastructure parachain on the Polkadot network, renowned for its exceptional scalability.
Was this helpful?
349
51
Daniele
Fri Nov 08 2024
This parachain introduces the Efinity token, abbreviated as EFI, which holds a pivotal role within the platform's ecosystem.
Was this helpful?
84
65
KatanaBlade
Fri Nov 08 2024
EFI functions as the native utility token of Efinity, enabling seamless transactions related to non-fungible tokens (NFTs).
Was this helpful?
361
93
BitcoinWizardry
Thu Nov 07 2024
In addition to its CORE functionalities, the Efinity Marketplace allows for cross-chain token swaps, broadening the horizons of accessible trading opportunities.
Was this helpful?
244
21
