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Enjin has been focused on the video game industry and digital asset tokenization, with the aim of supporting gamers and game developers with community management platforms and blockchain game development tools.
Initially the platform was solely used for gamers, as a way to set up clan and guild websites, create and moderate forums, and run and monetize servers. This gained huge popularity with fans of games such as World of Warcraft, Star Citizen and Minecraft, all of which utilised Enjins services. In total, the company has seen huge adoption, with more than 20 million registered users, all using Enjin, across a vast number, estimated to be over 250,000, of gaming communities.
However, things changed somewhat in 2017 as Enjin stepped up its game, with the release of its white paper, outlining its ERC-20 cryptocurrency Enjin Coin (ENJ), and it followed up with the launch of its Ethereum main net in November of that year.
#enj #enjin #enjincoin
Table of Contents:
0:29 What is Enjin?
3:25 ENJ Technical Analysis
4:25 ENJ Price Predictions
What Is Enjin Coin (ENJ)?
Enjin Coin is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Enjin’s flagship offering is the Enjin Network, a social gaming platform through which users can create websites and clans, chat, and host virtual item stores.
Enjin allows game developers to tokenize in-game items on the Ethereum blockchain. It uses Enjin Coin, an ERC-20 token, to back the digital assets issued using its platform, meaning that items can be bought, sold and traded with real-world value.
Enjin Coin was first announced in July 2017, and it launched on the Ethereum mainnet in June 2018.
Enjin Coin (ENJ) is a digital store of value used to back the value of blockchain assets like non-fungible tokens (NFTs). Every asset minted with the Enjin Platform contains ENJ, a minting resource which is locked inside NFTs and removed from circulation. Minting blockchain assets with ENJ provides a variety of benefits to creators and users:
Infuses them with a reserve value
Ensures their transparency and scarcity
Gives them instance liquidity
Provides utility in games and apps
Enjin’s “melting” functionality allows users to destroy their blockchain assets at any time to retrieve the ENJ value from within.
The Enjin blockchain ecosystem aims to offer software products that make it easy for everyone to develop, trade, monetize, and market with blockchain.
Founded in 2009, Enjin has roots in the gaming industry, with the company’s first product, a gaming community platform called the Enjin Network, growing to 20 million users over the course of a decade.
*** Disclaimer ***
It is important to note that I am not a financial advisor or a cryptocurrency expert and the content in this video is not financial advice. This video was created for entertainment purposes only.
I’m no expert, and I don’t know much about the projects behind these cryptocurrencies myself, but this is why I created this channel. So now we can all learn together by doing research together and analyzing the many different cryptocurrency projects out there.
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