DFG allocates 200,000 DOT to Efinity

The allocation, worth over $7 million at press time, is the second time that DFG invested in a project competing for a Polkadot - earlier this month, the company contributed 500,000 DOT to Acala.

DFG is looking to invest in as many contenders as possible.

Acala and Moonbeam both saw hugely oversubscribed crowdloans and the race for the remaining slots is bound to be tighter.

DFG, one of the leading cryptocurrencies investment firms in the industry, has allocated 200,000 DOT to the Efinity crowdloan, continuing its investment in the Polkadot ecosystem. Efinity is a next-generation platform developed by the Enjin team, which pioneered the NFT ERC -- 1155 standard onEthereum. The platform wants to create a new developer and user-friendly experience on Polkadot, in order to support the emerging NFT economy.

James Wo, founder and CEO of DFG, said that the company has been looking into the NFT sector since 2019 when it decided to include it in its investment strategy. A lack of a designated blockchain for NFTs dissuaded the company from engaging with the technology until they encountered Efinity.

The presence of Efinity shows us a fresh mindset of solving this sore point within the industry. He said the company will build a scalable cross-chain network that allows the establishment, use, and transaction of NFTs to be easier, faster, and more affordable so that the trading volume and adoption of NFTs can be significantly improved.