What Is Enjin (ENJ)? Information About ENI Token

What is Enjin?

Enjin is a unique Layer 1 blockchain platform, specifically designed for the NFT and Gaming sectors. Enjin’s goal is not only to become one of the leading gaming blockchains, but also to widely apply to many other fields.

Enjin is simply designed to make building and managing blockchain for games easier. Enjin’s ecosystem includes many products, all aimed at making it easier than ever for developers to build games.

Enjin Platform provides comprehensive toolsets and services for developers. With available SDKs, Platform API and Daemon wallet. Relaychain and Matrixchain are considered the backbone of Blockchain’s infrastructure.

Product

Enjin offers 4 services in the NFT market:

• Enjin Platform is a platform for building tradable assets. Users can create their own projects and develop products. The platform offers project management support packages. The platform also has a community forum with many members, allowing interaction with the project.

• Enjin Wallet is a cryptocurrency wallet on Android and iOS, capable of storing many cryptocurrencies such as Bitcoin and Ethereum. Enjin Wallet secures user assets and simplifies coin storage. The wallet can connect to the blockchain via QR code.

• Enjin Marketplace is a place to trade digital assets. Users can search, buy and sell rare digital assets.

• Beam is a tool that enhances product marketing through integrating digital rewards into QR codes.

Highlights of Enjin Coin (ENJ)

Enjin Coin (ENJ) was created to solve many problems in the gaming industry:

• Prevent payment fraud, ensuring transaction authenticity and integrity.

• Reduce costs and transaction times, making the process faster and more efficient.

• Allows players to truly own and manage virtual assets in a trusted manner.

• Allows assets to be transferred between games, increasing asset flexibility and value.

• Provide tools and frameworks to help develop an effective asset management platform.

• Create real value for virtual assets through the ability to exchange for real money.

Thus ENJ solves many problems in games related to virtual assets, transactions and platform development.

ENJ Tokens and Tokenomics

ENJ Basic Information

• Token Name: Enjin Coin.

• Ticker: ENJ.

• Contract: 0xf629cbd94d3791c9250152bd8dfbdf380e2a3b9c

• Blockchain: Ethereum.

• Token Standard: ERC-20, ERC1155.

• Token Type: Utility Token.

• Total Supply: 1,000,000,000 ENJ.

• Circulating Supply: 1,000,000,000 ENJ.

Token Allocation

• Token Sale: 73%.

• Enjin Team: 10%.

• Advisors: 10%.

• Marketing & Partners: 7%

Token Released Schedule

Currently all tokens have been unlocked to the outside.

Token Use Case

Enjin Coin (ENJ) has two main functions:

• Currency function: ENJ is used to create in-game assets, currencies and tokens. These assets can be converted back into ENJ at the original rate.

• Governance function: To release games, items, currencies and related services, developers need to use ENJ to pay fees. When an asset is created from ENJ, the amount of ENJ in circulation is reduced.

Thus, ENJ functions both as a currency to create in-game assets and as an administrative function to pay service fees on the platform.

Enjin Coin storage wallet

There are several ways to store Enjin Coin (ENJ):

• Use Enjin Smart Wallet: This is Enjin’s official wallet, allowing to store ENJ as well as assets created on the Enjin platform.

• Use ETH wallet: Because ENJ is a token on the Ethereum blockchain, users can use popular ETH wallets such as MyEtherWallet, MetaMask, Trust Wallet…

• Storing on exchanges: Users can store ENJ directly on exchanges that list this token such as Binance, KuCoin, Crypto.com… However, this way is less secure.

Thus, users have many choices for safely storing ENJ coins, depending on their usage needs and desired level of safety.

Where to buy and sell Enjin Coin (ENJ).

Currently Enjin coin is being traded on many exchanges including: Binance, OKX, Kucoin, Upbit.

Development Team

Enjin’s leadership team includes entrepreneurs and experts in the technology industry but mainly operates in new and young businesses.

• Maxim Blagov: CEO of Enjin

• Witek Radomski: CTO of Enjin

• Oscar Frankin Tan: CFO & CLO of Enjin

• Rene Stefancic: COO of Enjin

Funding round, Investor and Partner of Enjin (ENJ)

Funding round

Funding round

Investors

The project is invested by: Arrington XRP Capital, Hashed Fund, Fenbushi Capital, Blockchain.com, DFG Capital, Crypto.com Capital, Blocktower Capital.

Partners

Enjin’s partners are all big names in the technology world, including: Samsung, Microsoft, Atari,… or in Crypto such as: Binance, Crypto.com,…

Roadmap

Updating …

Similar projects

Along with Enjin we can mention

The Sandbox (SAND): a metaverse platform developed on the Ethereum blockchain that has several outstanding features

• Allows users to create digital assets (NFTs) such as land, characters, items…

• Users can experience virtual worlds (metaverse) created by the community.

• Can make money from content that users create such as games, simulations…

• Use SAND tokens to transact within the ecosystem.

• Built on blockchain technology to ensure transparency and safety.

Conclude

Through the overview article about the Enjin project above, AZC.News hopes readers will grasp basic information about this project to make their own investment decisions.

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