The self-proclaimed largest community gaming online platform Enjin Coin price is seeing a rise in registered gamers and its virtual good’s digital currency.
But what does the future look like for the coin? Is it worth investing in like MANA, Solana, and Bitcoin?
With the rising trend of gaming and micro-transactions, Enjin Coin price and the coin itself are playing a vital role in the commercial market. A digital currency was created for goods in the virtual world, and it was developed by its parent company Enjin.
The core purpose of the coin was to be involved solely in gaming and to be used for that purpose only.
Just like Decentraland’s MANA and SAND, Enjin Coin is gaining traction as time goes on and with recent technological advancements in the global world.
And with rising AR, VR, and other forms of gaming along with their respective micro-transactions, along with growing acceptance of digital payments and cryptocurrencies alike, we can soon see more activity in this area.
Enjin – The Largest Online Community Gaming Platform – On The Rise
Enjin proclaims itself as one of the largest gaming platforms for the online community and bolsters an impressive number of over two hundred and fifty thousand gaming communities.
These communities combined have over eighteen point seven million registered gamers who are poised to be on the virtual platform every day.
The sole purpose of the coin is termed to be only one: gaming. It was targeted to be one of those digital tokens which would be the most usable digital token around the world and in the industry globally.
The company has designed the coin with this purpose in mind, and this has raised the value of the Enjin coin and its price.
This project by Enjin was designed to include SDKs (software development kits) and Enjin Coin itself for developers around the world to integrate and embed it into their games and their respective communities.
Eliminating Irregularities By Incorporating Blockchain
Since its inception, the role of blockchain has been to eliminate any irregularities in the pre-defined processes of its incorporated field.
Similarly, adjoining blockchain technology to the world of gaming has been helping reduce any probable fraud in the transfer of value of virtual goods and also sharpening down the high fees linked with these transactions.
Both of these values combine together in a bunch to provide tremendous value to users around the world. Enjin Coin is developed on the Ethereum network and is an ERC20 token built on it.
As the Ethereum network is renowned in the technology industry as being the most trusted one when it comes to smart contracts, such as the value it also provides along with it being a cryptocurrency.
It was also one of the first projects to test the Lightning Network, known as Ethereum’s namesake for the famed Lightning Network.
Enjin Coin’s Features
Enjin Coin brings forth much value and has incorporated many features through its public software development kits and application programming interface.
Creation Of Virtual Goods And Superior Management
One of the main characteristics and values of the Enjin Coin is its capability to bring to the table superior ability in creating and managing goods in the virtual world. The gaming community and developers of such communities have found profound use of such value.
They can now create a unique currency that can be used in their desired communities, and that currency would be backed by the Enjin Coin. Acting as a parent digital currency gives credibility and reliability to the underlying currencies, and users benefit as a result.
Benefits Of The Blockchain
The value mentioned above gives the child coins all of the characteristics and imitation of blockchain, i.e., security, speed, cost advantage, etc., while retaining their unique identities in their respective domains.
This gives the users a sense of belonging in their virtual world along with being carefree as to any repercussions of fraudulent activities etc.
More About The Company Behind Enjin Coin – Enjin
The company’s inception took place in the year 2009 and is now the ‘largest online gaming community creation platform’ around the world. The company behind the famed Enjin Coin is reported to receive more than sixty million views in a month. It has a transaction volume of millions of U. S. dollars in respective community stores.
In over two hundred fifty-thousand websites dedicated to gaming, Enjin’s team is working to deploy Enjin Coin all over them with notable names attached to the foray, such as Ethereum co-founder Anthony Diiorio and technical director at Bioware (ex) Pat LaBine.
The company also has partnerships with recognized names in the gaming industry such as Unity, PC Gamer, etc.
The company has also been involved in a very successful ICO (Initial Coin Offering) and raised around thirty-five million dollars. This ICO was conducted in the year 2017.
Considered a young project, the company and the team is and have worked on major projects and APIs which have garnered praise amongst its peers and the gaming world, alike.
Enjin Coin – What Is It?
Announced just before its ICO in the year 2017 and built and launched on the famed Ethereum network in 2018, Enjin Coin (ENJ) is an NFT (non-fungible token) that consists of the value of blockchain as mentioned before and is an asset.
Users and creators alike benefit from a range of values such as transparency, liquidity, utility, and a reserved value. This value is also not subject to inflation, which gives tremendous favorable light to the coin.
As the company already had its first project in the gaming community world named Enjin Network grow to more than 20 million users in a decade, it soon became a known name for creating and leading a blockchain-based ecosystem.
The digital coin’s infrastructure enables developers and businesses to utilize these virtual assets for various strategies such as monetization, acquisition, engagement etc. and as the ecosystem is energized by Enjin Coin, it provides benefits of the blockchain.
Enjin Coin Circulation
A fixed maximum supply number of one billion tokens is quoted as Enjin Coin’s circulation. But as the system is growing, it is evident that the number of coins will decrease as various users and businesses incorporate their strategies in the gaming world.
The circulating supply is 842,268,984 Enjin Coins.
Enjin Coin Price Today And Statistics
Enjin Coin’s price circulating is around $2.5 at the time of writing of this article. It has a twenty-four-hour trading volume of $210,624,0747 USD, but its price has decreased in the last 24 hours.
The price change within the last 24-hour period is negative 0.81%, and trading volume has increased 16.60%. Market capitalization has decreased 2.52% and has a market dominance of 0.09%.
Where To Buy ENJ?
Top cryptocurrency and digital asset exchanges are dealing with Enjin Coins such as Binance, Huobi Global, and Mandala Exchange. Others are too, and a list of them could be found online.
As with any digital asset, extra care is needed when investing in cryptocurrencies. But with growing interest in the gaming and virtual worlds, such as the rebranding Facebook into Meta and the rise of Decentraland’s MANA, these domains are gaining immense interest from the public and private sector alike.