Enjin (ENJ) is a blockchain gaming platform that offers a range of software products. These products help individuals to develop, trade, and monetize with the distributed ledger technology (DLT), easily.

(Source: Enjin)

According to data available on its platform, millions of people across the world have adopted Enjin’s innovative products. Specifically, there have been 1 million installations of Enjin wallet and 53 million blockchain assets created on Enjin. The platform also boasts of a marketplace with a trading volume of 5.7 million.

Major Components of Enjin (ENJ) Ecosystem

The major features of Enjin are its Platform,  Enjin Wallet, Marketplace, and Beam. Here’s a breakdown of each.

Enjin Coin (ENJ)

Enjin Coin (ENJ) is an Ethereum-based cryptocurrency that was created in 2017. ENJ is used by millions of digital assets and it directly backs the value of these assets. Minting is also used to infuse ENJ into these assets.

However, the minting process can be reversed and as such, each asset can be melted back into ENJ. Melting helps to reduce the coin’s supply, which makes it scarce. That being the case, the reduced supply and increasing demand for the asset help to boost its value.

(Source: Enjin)

According to Enjin, ENJ has a real-life value, hence, assets that are created with it also have real-life value. It can, therefore, be said that ENJ is the gold standard for digital assets. ENJ is also limited in supply, thus, it helps to regulate the creation of assets it backs.

Enjin Coin (ENJ) is the 48th largest cryptocurrency in the world by market capitalization. At press time, the price of ENJ sits at $0.204881, with a market cap of $168.25 million, as seen on CoinMarketCap.

Enjin Wallet

Enjin also offers a secure cryptocurrency wallet that can be used by traders, gamers, and developers. This wallet is compatible with Android and iOS devices. The wallet comes with a slew of robust and cutting-edge features and aims to provide users with ease of use and convenience.

(Source: Enjin)

One notable feature of the Enjin wallet is its ability to enable users to create, import, and track several blockchain wallets. What’s more, the wallet is free of ads, which makes it non-intrusive. Coupled with that, the user is in full control of their private key.

There’s also a 12-word passphrase to ensure owners can still access their wallet if the key is lost or their smartphone is misplaced. Besides, app users can browse seamlessly to interact with decentralized applications (dApps) without leaving the blockchain wallet.

BTCManager reported on April 13, 2020, that users of the Enjin wallet can send and melt around 100 distinct non-fungible and fungible Ethereum-based ERC-1155 blockchain tokens in a single transaction.

The Enjin Market Place

The Enjin Marketplace offers users the opportunity to buy and sell unique blockchain assets such as gaming items and collectibles. According to Enjin, over 53 million assets can be purchased from their marketplace. These digital assets can be bought using ENJ.

(Source: Enjin)

So far, about 5 million ENJ tokens have been spent on virtual assets in the Enjin Marketplace and 50,000 ENJ is the largest amount spent on a single digital item in this market. It gets better since the Enjin wallet can be used to list and purchase assets from the market.

Enjin Beam

Enjin Beam offers a platform for users to grow and engage their audience. Here, digital rewards can be issued and embedded in QR codes. There have been 171,000 rewards distributed and over 900 beam campaigns. In the case of the latter, these marketing campaigns were successfully run.

Interestingly, 53,000 participants around the world have received rewards using Beam. Other features of Bean include the creation of a loyal player base where giveaways are issued before and after a campaign’s launch.

Recent Developments

There has been a lot of exciting news surrounding Enjin of late.

On May 28, 2020, BTCManager reported that the EnjinCraft plugin, an open-source blockchain plugin has been made available to about 200,000 Minecraft servers. Consequently, it allows players to integrate their blockchain assets into Minecraft.

BTCManager also informed on May 6, 2020, that Enjin has partnered with Godot, an open-source game engine to launch Enjin SDC for Godot. Also, the launch enables developers to create and implement blockchain assets into their games.

Conclusion

In a relatively short period of time, Enjin has cemented itself as a leading developer in the blockchain gaming space. It has a secure blockchain wallet, marketplace, and other unique features all designed to accelerate blockchain adoption. Its coin, ENJ also gives real value to other assets, thereby boosting the growth of the entire blockchain ecosystem.

As blockchain continues to witness wider adoption across industries, including gaming, expect Enjin to spearhead the movement with its continually innovative products and services.

Source: https://btcmanager.com/altcoin-explorer-enjin-enj-video-game-industry-blockchain/