With the power of Enjin, cryptocurrency and video games are converging. You might not have noticed this fantastic crypto, just as you might not have spotted a real engine. This is, nevertheless, one of the hidden jewels you’ll want to include in your portfolio this year.
Two brilliant minds founded ENJ Network. Witek Radomski and Maxim Blagov founded it in 2009 as a social gaming platform.
In 2017, the network ventured into the world of cryptocurrency. It hosted an Enjin currency initial coin offering (ICO). The organization desired a user-centric ecosystem of products.
Online gaming is a significant industry these days, and cryptocurrency is helping it grow. When you combine the two, you get never-before-seen features. This is why Enjin is one of those cryptos that the majority of people are unaware about.
It will be used to effortlessly create and exchange non-fungible tokens (NFTs). These are digital assets with a blockchain-based ownership system. You have a one-of-a-kind copy if you own an NFT. Yours is unique, regardless of how many free copies there are. Platform, Marketplace, Wallet, Beam, and Explorer are the five tools and solutions that make up Enjin.
The Enjin network, like its namesake, employs Enjin or ENJ currency. ENJ coins are a cryptocurrency that allows you to buy, trade, and profit from digital assets. It performs the role of a security token.
Melting the Coins
Enjin assets include a unique feature. You can turn them into Enjin coins by “melting” them. This opens up a new universe of possibilities, particularly in the realm of video games.
Take a prize from an ENJ game that can be melted into ENJ coins. The object disappears, but you gain ENJ tokens.
As a result, players might earn money simply by playing. They can search for precious goods for hours on end. They could then exchange those for more Enjin dollars.
Enjin vs. Axie
Similar features can also be found in other games. Take, for example, Axie Infinity. Outside of the Enjin network, it’s an NFT game. Despite this, it allows players to earn SLP and AXS coins just by playing.
In contrast to Enjin, you are unable to generate in-game assets. Every in-game goodie can turn into real-world money with an Enjin coin price prediction.
However, they share something: the Ethereum network. They’re both ETH-based. It is the second most valuable cryptocurrency, after bitcoin (BTC).
ENJ functions in the same way that bitcoin mining does. This means you’ll be a part of the Enjin network’s transaction confirmation process.
Almost every second, the prices change. Within hours, coins can break through a resistance level or collapse below support! Take a look at Binance’s market website or CoinMarketCap to see for yourself.
BMW, Samsung, Unity, and Atari are just a few of the companies who use Enjin right today.
The price of ENJ coin was at $1.38 at the time of publishing. Given its recent developments, it is possible that it will reach at least $10.00.
As you can see, ENJ coin is a fantastic investment right now, especially given the current trend in the crypto market. But, in the world of investing, always remember that you can lose money.
“The opinions voiced in this Cryptocurrency news article are solely those of the individuals quoted or interpretations of the author. These opinions & interpretations are not necessarily endorsed by Your Crypto Banker or its subsidiaries.”