Enjin (ENJ): what it is and how it works

How much is an ENJ worth in Euros? And what is the decentralised platform Enjin designed for? Follow the price chart on Young Platform.

Important: following the alignment with Regulation (EU) 2023/1114 (MiCAR), on Young Platform Enjin (ENJ) is currently available for selling only: it can no longer be bought or deposited. Selling remains possible with no deadlines.

What is Enjin (ENJ)

Enjin is a decentralised platform focused on the gaming sector (GameFi): it offers tools to develop blockchain video games and to create and manage NFTs. It lets developers and players own and trade digital assets, in a model close to “play-to-earn”.

How it works: ENJ backing NFTs

The ENJ token has a particular function: when an NFT is created (minted), a certain amount of ENJ is “locked” to back its value; by destroying the NFT (melt), the ENJ is recovered. The project uses the ERC-1155 standard, developed by the Enjin team, which allows fungible and non-fungible tokens to be issued together.

Infrastructure and origins

To reduce transaction costs and times, Enjin developed its own infrastructure (from Efinity, a Polkadot parachain, to the Enjin Blockchain). The project was founded by Maxim Blagov and Witek Radomski (started in 2009, it moved to blockchain in 2017) and has formed partnerships with the likes of Microsoft and Binance. It also offers a smartphone wallet and a dedicated marketplace.

Past performance is not a guarantee of future results.

Enjin Market Data

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