Launched on the Ethereum mainnet in June 2018, Enjin Coin (ENJ) is an Ethereum-based cryptocurrency and digital store of value used to secure the value of blockchain assets such as non-fungible tokens (NFTs).
It’s a project by Enjin, a company that offers an ecosystem of interconnected, blockchain-based gaming products.
Every asset minted with the Enjin platform contains ENJ, a minted resource locked in NFTs and retired.
Enjin allows game developers to tokenize in-game items on the Ethereum blockchain.
Enjin uses Enjin Coin to secure the digital assets such as NFTs issued using the Enjin platform, meaning items with real-world value can be bought, sold and traded
Users can use Enjin Coin as currency and the Enjin Wallet to buy, sell and trade NFTs.
Enjin integrates with games and allows users to handle and store virtual goods for games. These can range from in-game currencies to tokens that are unique.
According to CoinMarketCap, Enjin Coin uses a series of smart contracts that game developers send ENJ to to mint new, unique coins fungible or non-fungible ERC-1155 tokens tradable on the Enjin marketplace.
Enjin Coin also uses a range of on-chain and off-chain processes.
Enjin Coin will participate in the development of the Metaverse, making it a Metaverse cryptocurrency.
Enjin Coin has a total fixed supply of 1,000,000,000 ENJ tokens with 823,130,411 ENJ tokens in circulation.
At the time of writing, Enjin (ENJ) is trading at $1.61 with a market cap of over $1.4 billion.
Enjin Coin (ENJ) can be bought from Uphold, Coinbase Exchange, Binance, Uniswap (V2), Gemini, Kraken, KuCoin, etc.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.