In its latest revelation, Engine announced more than 50 companies have used the JumpNet blockchain to issue non-fungible tokens (NFTs) or ‘cryptocollectibles’ after its launch two weeks ago.
JumpNet is specially designed for NFT which was developed using the Ethereum token standard, ERC-1155.
Among the firms involved: Microsoft, Binance, OKEx, Cryptomat, BlockDown, Ludena protocol, Lost Relics, Japanese VTubers, MyMetaverse, The Six Dragons, Beauty in the Streets, and MetaverseMe.
Microsoft for example has developed several NFTs known as Azure Heroes on JumpNet. While Binance, Cryptomat, and OKEx create a collection of reminders and digital devices.
The engine is backed by a proof-of-authority consensus as opposed to mining. This means it is able to execute transactions without involving the high Ethereum transaction costs and mining limits.
By reducing its reliance on Ethereum mining, the platform is able to reduce its ecological impact. The engine guarantees this approach uses 99% less energy than Ethereum.
The engine is also targeting collaboration with platforms other than Ethereum. Among the latest, Engine managed to raise $ 18.9 million from investors to develop the NFT blockchain, Efinity in Polkadot.
