zerokn0wledge

Efinity bull case: Enjin team building an NFT parachain on Polkadot

Thread274 words
ThesisL1/L2OtherEfinityEnjinImmutablePolkadot$DOT$EFI$ENJ
Bullish call$EFI−99%since this piece, moved against the callHow it played out ↓

Argues Efinity is undervalued: same team as Enjin, a purpose-built NFT and gaming base layer on Polkadot, valued at 75mn against Enjin at 1.1bn and Immutable near 500mn. Walks through crowdloan reward math.

Key claims
Enjin has almost 100k registered users and talks with nearly 100 game studios
Efinity sits at about 75mn USD vs Enjin 1.1bn
Expected about 26 EFI per DOT contributed
0/ One of the $DOT parachain projects I’m most bullish on is @efinitiyio. Contributed to their crowdloan a few weeks ago and am super hyped for the upcoming #parachain launch Short 🧵 on why I am an $EFI bull (0/7)👇 1/ It’s the same team that created the @enjin #NFT platform and pioneered NFT standards like ERC-1155 on $ETH 2/ @Enjin is a platform that allows users to mint NFTs that can e.g. be used as in-game assets using $ENJ as collateral 3/ The $ENJ platform has almost 100k registered users already and according to the team, they are in talks with almost 100 game studios that are interested in integrating @enjin technology 4/ @Efinityio on the other hand is a highly scalable, interoperable base layer for NFT/Gaming applications in the $DOT ecosystem that allows devs to deploy #NFT projects on a future-proof infrastructure, while users benefit from the low fees & can take part in governance via $EFI 5/ @Enjin already has a mcap of around 1.1 billion USD and @Immutable, which in some ways might be comparable to #Efinity since it is a base layer with focus on #NFT tech as well, already has a mcap of almost 500 million USD 6/ Interestingly, @efinityio, which already has a live ERC20 token, currently sits at merely 75mn USD. This leaves a lot of room for growth 7/ With “only” 7.7mn $DOT raised, crowdloan rewards will also be quite juicy. Expecting around 26 $EFI per $DOT contributed, which already now amounts to approx. 12$. At a 500-600mn mcap this would be 80$ per $DOT, potentially making this one of the most rewarding $DOT crowdloans
Open on X

How the call played out · since 24 Jan 2022

Prices as of 23 Oct 2026

This piece takes a view on $EFI, so that move is read against the call. Other assets it covers are shown as context, not as calls.

$EFIEfinityBullish thesis

The Enjin team's purpose-built NFT and gaming parachain trades at a fraction of Enjin and Immutable valuations.

−99%
Moved against the call · to 08 Oct 2026, when trading data ends
At publication
$0.518
Last trade
$0.0054
vs BTC
−99.5%
After 1 month
−29%
After 3 months
−19%
After 1 year
−83%
High since
+107% 22 May 2025
Low since
−99.3% 10 Sep 2026
Show market context for 2 other assets
Mentioned for context
$DOTPolkadotsince publication−94%−97% vs BTC
$ENJEnjin Coinsince publication−98%−99.3% vs BTC
Since then

No follow-up pieces on this subject yet. This is the latest take.

Daily closes in USD from DefiLlama and Yahoo Finance. Only a bullish or bearish call in a thesis or market take is tracked; explainers, lists, maps and mentions are neutral context. Not financial advice.

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