Find out about Enjin (ENJ), it’s easy!

What is Enjin?

Enjin is fully focused on the promising universe of GameFi. In fact, its protocol offers the tools to develop video games on the blockchain. By leveraging NFT-certified ownership, creators and players can monetise their efforts: a perfect example of Play-to-Earn. Created in 2009, the platform was not originally blockchain-based, but it was revamped in 2017 to harness the potential of this technology. As well as a metaverse and new forms of decentralised entertainment, Enjin also offers a wallet, a smartphone application and a marketplace of “digital assets”. 

Why follow Enjin? 

Developed on the Ethereum blockchain, its native token is called ENJ and allows players to mint (generate) NFTs and also to melt them (the reverse operation). With each “creation”, some ENJs are locked within the NFT, just as they are retrieved every time a non-fungible token is “destroyed”. The ENJ token is based on the ERC-1155 Ethereum standard, created by the Enjin team, which can issue non-fungible and semi-fungible tokens. However, to lower costs and increase transaction speeds, Enjin has launched Efinity: a proof-of-stake Polkadot parachain.

How was it created?

The project began long ago and has managed to adapt to the latest technology and innovations over the years. This is evidenced by the more than 20 million active players who populate Enjin’s servers. The two founders are Maxim Blagov and Witek Radomski. Enjin’s many business partners include Microsoft, Blockchain.com, MotoBloq and Binance.