What is Enjin?
Enjin is an Ethereum-based platform that is decentralized and primarily used for the creation of digital assets, or NFTs, which can be integrated into play-to-earn games and dApps on the Ethereum blockchain. In this Enjin review, we take a closer look at the history, features and tokens of this protocol.
The suite of products offered by Enjin includes the Enjin Network, the Enjin wallet, Efinity, SDKs (Software Development Kits) and more.
The NFT projects that are currently powered by Enjin include Microsoft’s Azure Heroes, Lost Relics, GameTalkTalk, Age of Rust, Utilify and My Meta Studio.
By using blockchain technology, assets are recorded using smart contracts and have the same advantages as cryptocurrencies in terms of transaction speed, cost and security. Enjin-based assets have cross-chain and cross-platform compatibility and can be traded outside of the Enjin network.
Who created Enjin?
Enin was originally co-founded in 2009 by Maxim Blagov and Witek Radomski as a platform for the gaming community, and in 2018 it went live as an Ethereum-based platform for gaming and NFTs.
Maxim has nearly 2 decades of experience in creative direction, software design and project management, and marketing. He specializes in the development of concepts and strategies for interactive applications in video games and blockchain applications.
Witek is the author of ERC1155, which is an Ethereum token standard that enables developers to deploy both fungible and NFT items in a single smart contract, and in 2017, he wrote the code behind the first NFTs that were ever created.
He is responsible for the technical engineering, design, security and testing for Enjin and has a particular fascination with NFTs and blockchain technology.
What are the Features of Enjin?
The primary purpose of Enjin is to enable the creation, management and storage of NFTs, tokens and other in-game digital assets and to allow the integration of these assets into Ethereum-based applications and games.
More than 27,000 projects have been created using the Enjin platform and more than 1 billion tokens have been minted, with a total of over 856,000 assets transferred by users.
Enjin has committed to being more sustainable by developing a carbon-negative blockchain and has also joined the Crypto Climate Accord and the UN Global Compact initiative.
The Enjin team is also exploring new ways to use blockchain to support vulnerable communities and has joined forces with the United Nations Interregional Crime and Justice Research Institute (UNICRI).
Games that are already using the Enjin coin and Enjin-based assets include Space Misfits, 9Lives Arena, The Six Dragons, War of Crypta, and Nestables.
What is the ENJ Coin?
ENJ is native to the Enjin ecosystem and each asset on the platform is assigned a value in ENJ. It is an ERC20 token that runs on the Ethereum blockchain and is powered by Ethereum’s smart contracts.
This token can be used to create, manage and destroy in-game items and it can also be staked and used with unique tokens created by developers.
BMW offers a loyalty program that allows members to use ENJ-based NFTs to pay for fuel, road tolls, or parking fees, and they can also be swapped for ENJ.
How to buy ENJ?
Unless you are able to mine ENJ, the only other way to obtain these coins is by buying them from an exchange, such as Binance, Coinbase Exchange or OKEx.
Follow these steps to buy ENJ:
Step 1: Create an account with your preferred exchange
Step 2: Follow the online application process and verify your account
Step 3: Log in to the client portal and fund your account
Step 4: Go to the exchange or P2P page (if P2P is available)
Step 5: Search for the token using the search bar and confirm the transaction
What are the best ENJ wallets?
ENJ can be stored in any ERC20-compatible wallet, but Enjin offers its own proprietary wallet that has been downloaded by more than 1 million users.
The Enjin wallet was designed specifically for the Enjin network and it can be used to access and manage your inventory, it stores both cryptocurrencies and NFTs, it has a built-in dApp browser and much more.
If you prefer to use third-party wallets, we recommend using on of the following:
- Exodus
- Coinomi
Exodus is a user-friendly desktop and mobile crypto wallet that supports more than 150 tokens and it offers a built-in exchange with a variety of dApps.
Coinomi is a multi-chain software wallet with a dApp browser and a built-in exchange that can be used across multiple chains. It also offers enhanced security measures and cold staking.
Conclusion
What stands out the most for us about Enjin is that it has taken the initiative to be a more sustainable platform and is trying to find ways to support communities through blockchain technology and NFTs.
Not only has Enjin created a way for NFTs and in-game assets to be integrated into Ethereum-based applications and games, but it has also revived thousands of post-pandemic artists, musicians and creators by sparking a global flame of inspiration with newfound ways of integrating creativity with blockchains.
We hope that this Enjin review answers some of your questions about this protocol.
Good luck with your trading!
FAQ:
What is Enjin (ENJ)?
Enjin is an Ethereum-based platform that is decentralized and primarily used for the creation of digital assets, or NFTs, which can be integrated into play-to-earn games and dApps on the Ethereum blockchain.
Who is the founder of Enjin (ENJ)?
Enin was originally co-founded in 2009 by Maxim Blagov and Witek Radomski as a platform for the gaming community, and in 2018 it went live as an Ethereum-based platform for gaming and NFTs.
What token does Enjin (ENJ) use?
ENJ is native to the Enjin ecosystem and each asset on the platform is assigned a value in ENJ. It is an ERC20 token that runs on the Ethereum blockchain and is powered by Ethereum’s smart contracts.
How to buy Enjin (ENJ)?
Unless you are able to mine ENJ, the only other way to obtain these coins is by buying them from an exchange, such as Binance, Coinbase Exchange or OKEx.
Follow these steps to buy ENJ:
Step 1: Create an account with your preferred exchange
Step 2: Follow the online application process and verify your account
Step 3: Log in to the client portal and fund your account
Step 4: Go to the exchange or P2P page (if P2P is available)
Step 5: Search for the token using the search bar and confirm the transaction
What wallets can I use on Enjin?
ENJ can be stored in any ERC20-compatible wallet, but Enjin offers its own proprietary wallet that has been downloaded by more than 1 million users.
The Enjin wallet was designed specifically for the Enjin network and it can be used to access and manage your inventory, it stores both cryptocurrencies and NFTs, it has a built-in dApp browser and much more.
If you prefer to use third-party wallets, we recommend using on of the following:
- Exodus
- Coinomi
