Enjin Coin (ENJ) Research

Enjin Coin (ENJ) Research Details

Enjin Coin (ENJ) Enjin Coin

INTRODUCTION

Enjin is a Singapore-based blockchain platform dedicated to serving as a booming infrastructure for shared games that is currently happening near us. Founded in 2009, it is now one of the largest gaming communities in the world, looking for hundreds of thousands of gaming communities and approximately 20 million registered gaming players.

Enjin Coin (ENJ) is a cryptocurrency and blockchain platform created specifically for the video game industry.  Built on the Ethereum blockchain by Enjin, a company that helps gaming players to build sandbox and community circles around their favorite games. Enjin Coin expands this existing platform into a blockchain video game development engine.

Enjin technology supports a complete ecosystem used to create NFT, games, and other distributed applications. Enjin Parent Company offers a wide range of blockchain products, including a marketplace, wallet, and developer platform based on Enjin Coin.



HISTORY AND FOUNDERS

Enjin was founded by Maxim Blagov and Witek Radomski in 2009and began a community platform that year. In 2017, the project hosted an ICO, raising about $ 18.9 million. In 2018, Enjin came to life. Enjin has facilitated the trading of tangible assets in all of Enjin's gaming platforms and communities.

In the summer of 2018, Enjin officially launched the Enjin Platform on the Ethereum mainnet which is also compatible with Kovan Testnet. EnjinPlatform is a platform-as-a-service that allows other game developers to issuefungible and non-fungible assets in the form of in-game Ethereum tokens. In the same year, Enjin proposed a new ERC token standard - ERC-1155 - adopted in 2019 and is now being implemented in its current software.


REASON TO BUILD THE PROJECT

Enjin was developed to help in reducing the high fees and fraud that have plagued the transfer of virtual in-game goods and collectibles and managing game items across many different properties by using blockchain technology.

To that end, Enjin has released software development kits (SDKs) that allow users to build both digital assets in Ethereum and integrate them into games and applications.

Each minted asset is customized to fit the field you want and is recorded with a smart contract, providing the cryptocurrency advantages, namely speed, cost, and security.


BASE OF PROJECT

Enjin has a software development kit (SDK) that game developers can "build".Developers can use the SDK to create virtual items inside their games or applications. These produced items are assigned an appropriate value in ENJ and can be easily traded or sold through the Enjin marketplace.


USE CASE

·       Developers can use the Engine platform to build projects (i.e. video games, web applications) on the Enjin platform.

·       Once a new project has been created, developers can create and issue in-game assets such as Ethereum tokens.

·       All created engines of the Enjin coins can be “melted” or replaced with an Enjin character at any time.

·       Game developers can access the Enjin Platform by connecting to the Enjin API.


TOKENOMICS

Enjin Coin (ENJ) has a maximum supply of 1,000,000,000 and a circulation of 846,734,704.57 ENJ.

ENJ tokens distributed are as follows:

·       40% (400,000,000) were sold by Enjin at the time of the pre-sale.

·       40% (400,000,000) were sold by Enjin to Crowdsale buyers excluding any bonuses used in pre-sales.

·       10% (100,000,000) is reserved by the Company to promote the public, beta testers, marketing, and strategic partners.

·       10% (100,000,000) will be distributed by the Company to the Enjin Coin Group and Advisers.


MAJOR NEWS AND EVENTS

DATE

NEWS/EVENTS

IMPACT

05/03/2021

Enjin will be releasing two Ethereum scaling solutions: JumpNet and Efinity

+72% Increase

08/03/2019

Enjin coin soars after the confirmation of its partnership with Samsung

+70% Increase

 


CONCLUSION

The year 2021 has shifted to the NFT market which has risen to $ 22 billion, according to a data report from DappRadar. Digital art collections from various artists around the world are auctioned off for millions of dollars. And all of this is great news for ENJ owners as the Enjin network provides a platform where users can integrate their NFTs and build applications on blockchain networks.

It should be noted that games and players have played a major role in pushing the world into cryptocurrencies. This is because if you own an item in the game, you can sell it directly from your e-wallet and use those funds immediately to purchase any of the essentials in the real world. This amazing use of the ENJ coin makes it one of the few coins that offer this feature to gamers around the world. And with the increase in crypto discovery in the upcoming time, the price of ENJ token may rise sharply.


DISCLAIMER

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto products are currently unregulated and subject to market risk. Please seek independent financial advice or do your own research before investing.