Enjin Coin: everything you need to know about ENJ

What is Enjin Coin?

Enjin Coin (ENJ) is a cryptocurrency designed for the gaming industry. The coin was developed by Enjin, a company focused on building blockchain solutions for the gaming industry. ENJ is used to buy, sell, trade, and verify digital items in games. It also aims to increase the value and authenticity of all these items. Smart contracts facilitate transactions on the Ethereum blockchain between players and provide support for cross-game functionality and interoperability. ENJ has a strong community and is backed by several major players in the gaming industry. 

How does Enjin Coin work?

Enjin Coin allows players to buy, sell, and trade digital items while verifying and managing the authenticity and value of these items via the blockchain. ENJ is used to link digital items to blockchain-based tokens, increasing the value and authenticity of these items. 

Enjin Coin supports cross-game functionality, meaning items earned in one game can be used in other games that support ENJ. This allows players to retain and use their digital assets across multiple games. 

ENJ also features a "Melting" function, allowing players to convert digital items into ENJ tokens, enabling them to liquidate their assets for cash. Overall, these features make ENJ an attractive option for gamers and developers looking for efficient, secure, and reliable ways to manage and trade digital items.

The ENJ token

he ENJ token is designed to drive its use within the gaming industry. ENJ serves as a means of transaction for digital items and value between players, developers, and platforms. 

ENJ is backed by a reserve of real-world tangible assets, including rare and valuable gaming items, giving the token inherent intrinsic value. Players can acquire ENJ by purchasing, earning, or participating in games and communities that support the token. 

ENJ can be used to buy, sell, and trade digital items, as well as to access premium content, in-game benefits, and services. The token can also be used to "melt" digital items and convert them into ENJ tokens. 

A significant feature of ENJ's token economy is its emphasis on the community. The platform has established various initiatives to support its community, such as the Enjin Adopter program, which allows businesses and developers to integrate ENJ into their own games and platforms. 

The Technology Behind ENJ

The technology behind ENJ is based on the Ethereum blockchain and utilizes smart contracts to facilitate transactions among players. The ENJ platform consists of several components, including: 

• Smart Contracts: These automate and validate transactions among players, ensuring the authenticity of digital items and tracking their value. 
• ENJ Tokens: These digital tokens serve as a medium for the exchange of value among players, developers, and platforms. ENJ tokens are ERC-20 tokens on the Ethereum blockchain. 
• Enjin Wallet: This allows players to manage their ENJ tokens and digital items. The wallet also supports other cryptocurrencies and tokens. 
• Melting: ENJ features a "Melting" function that enables players to convert their digital items into ENJ tokens. 
• Cross-Game Functionality: Items earned in one game can be used in other games that support ENJ. This is made possible by integrating ENJ into various games and platforms. 
• Scalability: ENJ utilizes a Layer 2 scalability solution called JumpNet, enabling faster and cheaper transactions. This helps reduce transaction costs and increase network scalability. 

The Enjin Coin ecosystem

The Enjin Coin ecosystem comprises the ENJ token, developer and gamer tools and services, gaming platforms and communities that support the token, initiatives and programs to support the community, and cross-game functionality. The goal is to provide an efficient, secure, and reliable way to manage digital items in games and drive the adoption and use of ENJ. 

Benefits of Enjin Coin

What are the advantages of Enjin Coin? Investors choose ENJ for these reasons: 

• Broad integration with multiple platforms 
• Own wallet 
• Highly active marketplace 
• Good liquidity on the platform 
• Focus on gaming 

Drawbacks of Enjin Coin

Apart from advantages, Enjin Coin also has disadvantages. What should you consider when investing in Enjin Coin? 

• Dependent on a small selection of games 
• Lack of transparency in the Enjin Wallet mechanism 
• NFT creation requires knowledge 

Who is the founder of Enjin Coin?

The founders of Enjin Coin are Maxim Blagov (CEO) and Witek Radomski (CTO). Enjin is a growing project and a for-profit company that began as a community gaming platform in 2009. The project conducted an initial coin offering (ICO) in 2017, raising approximately $18.9 million.

Price forecasts

In 2026 experts expect a minimal price of €0.8700 and a minimal price of €2.89 in 2031.