Enjin (ENJ) is a cryptocurrency that was built on the Ethereum blockchain and began in late 2017 through an ICO that raised $18.9 million.
So, what makes this project so unique? This article will provide you with detailed information about Enjin and the ENJ coin, such as how it works, token use cases, and other project features. Based on such information, you will be able to examine the project’s potential and evaluate whether or not to invest in ENJ coin.
What is Enjin?
Enjin is a complete ecosystem that enables consumers and developers to purchase, sell, and distribute NFT items, as well as create their own token.
The project’s major goal is to produce a complete collection of goods that will allow anyone to engage in the world of blockchain and NFT. The project offers amazing features to help users and developers freely produce, purchase, and sell NFT products while retaining transparency and high security.
Enjin’s tools and networks currently service 20 million people, including 250,000 gaming communities.
How does Enjin work?
Enjin retains the outstanding features of the Ethereum Network, such as quick transaction speed and advanced smart contracts, due to its design in accordance with the ERC-20 standard. Enjin will be able to operate its functions more efficiently as well as establish a more complete NFT ecosystem as a result.
The primary goal of the project is to produce a set of tools that will allow users or developers to create and manage virtual goods. Any developer can easily build their own cryptocurrency or NFT product.
To that purpose, Enjin’s ecosystem is filled with products that may assist users and developers with a variety of functions, such as these features:
- Beam: This tool helps NFT creators are able to transfer thousands of NFTs/FTs to users with a single QR code scan..
- Wallet: A blockchain asset wallet that integrates smoothly with games and apps. It’s one of the most functional digital wallets in the world according to the team.
- Efinity: A revolutionary Ethereum scaling approach will enable ERC-20 and ERC-1155 token transfers fast and easy.
- Multiple SDKs: Enjin offers software development kits for Unity, Java, Godot, and more platforms. This allows millions of developers to easily merge existing projects or create entirely new ones.
- Beam: This tool helps NFT creators are able to transfer thousands of NFTs/FTs to users with a single QR code scan.
- Marketplace: a digital marketplace with over ten million digital objects that enables users to explore, purchase, and sell rare NFTs.
The Enjin token will be widely used in the project’s above-mentioned features. This incentivizes users and developers to enhance the token’s usage while also providing a rarity of the token in the market.
What makes Enjin unique?
The unique feature that Enjin offers users is that all Enjin tokens minted are directly supported by Enjin’s platform. Users may be using the project’s services without realizing that ENJ Token supports the majority of the functions. This significantly improves Enjin’s transparency and usability.
The fact that Enjin Coin is built on Ethereum gives the project the possibility for future growth. Enjin’s activities will also be automatically encrypted with users’ automatic wallets, ensuring near-instantaneous transaction speed and processing capacity.
What is Enjin Coin (ENJ)?
ENJ is the Enjin project’s utility token. The main objective of the Token is to support the project’s activities. Developers can also use Enjin to mint other digital products.
ENJ will also be utilized when purchasing and selling high-quality in-game items or on the market.
Detailed Information about ENJ Coin
ENJ Token Metrics
- Token Name: Enjin Coin.
- Ticker: ENJ.
- Contract: 0xf629cbd94d3791c9250152bd8dfbdf380e2a3b9c
- Decimals: 18.
- Blockchain: Ethereum.
- Token Standard: ERC-20, ERC1155.
- Token Type: Utility Token.
- Total Supply: 1,000,000,000 ENJ.
- Circulating Supply: 934,331,121 ENJ.
ENJ Token Allocation
ENJ Token Sale
The project completed an ICO sale for Enjin tokens in 2017 with $18.9m worth of ENJs sold.
How to buy ENJ coin
Coin98 Exchange is a decentralized exchange (DEX), a Multi-chain liquidity aggregator that offers users a wide variety of DeFi services (swap, stake, lend, borrow,…) through intuitive and simple interfaces.
You can use Coin98 Exchange to swap other tokens for ENJ following these simple steps with: https://exchange.coin98.com
Step 1: Connect Coin98 Extension Wallet.
Step 2: Select Uniswap.
Step 3: Choose coins for trading:
- Search ENJ.
- If the result does not come up, you can paste the contract of ENJ into the search box: 0xf629cbd94d3791c9250152bd8dfbdf380e2a3b9c
Step 4: Adjust the amount you want to swap.
Step 5: Adjust the gas fee, then click Approve.
How to mine ENJ coin
Currently, users can take advantage of ENJ’s token burn per transaction to receive rewards in the form of ENJ Coins.
In addition, people can buy ENJ on listed exchanges
How to store ENJ coin
You can store ENJ token on Coin98 Wallet with these steps:
Step 1: Open Coin98 Wallet & click Receive on the home screen.
Step 2: Search ENJ coin.
Step 3: Click on the correct result, copy the wallet address and send ENJ to this address.
Roadmaps and Updates
The following modifications will be made to the forthcoming Enjin ecosystem:
- Dungeon Universe is a blockchain game MMORPG project based on Enjin.
- EnjinStarter, a launchpad for blockchain games, has announced a strategic agreement with Enjin to promote the development of the Enjin ecosystem
Team, Investors, and Partners
Since it has been established for a long time, Enjin has many partners such as: BMW, Microsoft, Samsung, AAve Protocol, Unity.
Is ENJ a good investment?
This article has provided some of the main ideas related to the ENJ token and its implications. Still, it is important to note that there are a few key points that investors should take into account before making investment decisions:
- Enjin is a project that has been in existence since 2009. However, until recently, when NFT was experiencing rapid growth, consumers paid close attention to NFT projects. As a result, the project has a complete ecosystem to support other NFT goods, and Enjin may become an essential part of the NFT world as demand grows.
- The project’s features are highly diverse, and it can supply users with essentially anything related to NFT. With a diverse and still-expanding ecosystem, NFT is one of the projects you should be informed of.
- Enjin’s token use case is also remarkable. The quantity of ENJ will decrease over time due to the mechanism of burning tokens through transactions or other activities. This will make the token more valuable in the market and encourage consumers to stay with the project.
I hope you have gained all of the important information about ENJ including its features and highlights throughout this topic.
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