Enjin was founded in 2009 and Singapore-based. They offer a platform for creating digital assets for use across multiple Video Games. Their uses include collectible art or even in-shop coupons. Enjin allows gamers to have true ownership of their in-game items trade them for value.
By utilizing Blockchain technology, users can enjoy:
- True item ownership – with transactions that cannot be censored powered by the Ethereum blockchain.
- Convenient Exchange of value – digital items can be traded or sold instantly. The Enjin Wallet also allows users to access decentralized exchanges such as Kyber Network and Changelly.
- Reserve Value – unwanted digital items can be “melted” into the Enjin Coin cryptocurrency.
- Single Wallet for all items – the Enjin Wallet users to keep all digital assets in one single location.
- ERC-1155 Token Standard – Enjin created this as a superior version of the ERC20 and ERC721 token. Its transaction bundling and multi-send features mean it will save users’ costs.
Example: Stormwall- the shield that moves across universes
Enjin announced its newest asset in May 2019- Stormwall. It is an example of what we can expect with its gaming assets. Stormwall is a shield that moves across Enjin’s Multiverse of games.
In the below video we see Stormwall being as a playable item in 32 different games including 9Lives Arena, Age of Rust, Cats in Mechs and more.
What Makes Enjin Coin (ENJ) Valuable?
Enjin coin’s (ENJ) value comes from its use in various mobile games and video games that use this currency to create digital assets. Each game acts as a “value trap” – locking up ENJ reserve and increasing the scarcity of $ENJ.
With a limited supply of 1,000,000,000 $ENJ, this cryptocurrency acts as a form of “Digital Gold” – its value determined by the dynamics of supply and demand within the game’s ecosystem.
$ENJ is locked up when items, e.g. the Stormwall shield are created. $ENJ is then released when items are destroyed.
The Enjin Coin Ecosystem
Enjin have created an entire ecosystem where you can create, store, trade and use these items.
What’s next for Enjin?
Maxim Blagov and Witek Radomski founded Enjin in 2009. Today they are the largest social gaming website in the world, with over 20 million users across 250,000 gaming communities. There are currently over 60 blockchain games on the Enjin network. Check out my video where I provide an in depth look at Enjin and blockchain mainstream adoption could be achieved through gaming.
Rumoured Samsung Partnership?
Enjin confirmed in early March 2019 that it had entered a partnership with smartphone manufacturer Samsung Electronics (as reported on Asia Crypto Today).
I interviewed Enjin’s founder Witek Radomski at the Game Developers Conference. He confirmed the Samsung partnership again but couldn’t go into details because the Company is under a non-disclosure agreement.
The Enjin wallet has recently become the first wallet to offer full Binance Chain and all BEP-2 (Mithril, ChangeNow) based tokens.
In their latest quarterly report the Company stated its primary development focus would be on launching the Enjin Platform to Mainnet. According to Enjin this would be to facilitate the mass utility of the Enjin Coin.
EnjinX – Blockchain explorer that tracks the Ethereum Blockchain, ERC-20 and ERC-1155 items
Egamers – Enjin Games news website
Everything Enjin – Great site covering Enjin Related News
Multiverse Era – Telegram Channel about the Enjin Multiverse
Castle Crypto – Coverage of Enjin games