Cryptocurrency and video games are merging with the power of Enjin. Just like a real engine, you might not have noticed this amazing crypto. Yet, this is one of the hidden gems you need for your portfolio this year!
First, we’ll talk about how the Enjin network and its cryptocurrency started. Then, we’ll explain the many changes it brings to online gaming. As you’ll see, Enjin coin is a good investment right now, especially because of the crypto market’s bullish trend.
Online gaming is a huge industry nowadays, and it’s getting a boost from cryptocurrency. Mixing them both allows for never-before-seen features. This is why Enjin is one of these cryptos that most people haven’t noticed.
How the Enjin started
Two great minds created the Enjin Network. Witek Radomski and Maxim Blagov started it in 2009. At first, it was a community gaming platform.
In 2017, the network took a step into cryptocurrency. It hosted an initial coin offering (ICO) for Enjin coin. The company wanted an ecosystem of user-first products.
People will use it to make and exchange non-fungible tokens (NFTs) easily. These are digital media with ownership tied to the blockchain.
Owning an NFT means you have a unique copy. No matter how many free copies there are, yours is special. Also, Enjin is made up of five tools and solutions:
- Platform – This tool lets you create or “mint” tokens and NFTs yourself. Besides digital art, you can make another currency using Enjin! Also, Enjin lets you earn whenever users exchange digital assets.
- Marketplace – After you’re done creating, you may post them on the Enjin Marketplace. What’s more, you may browse works from other people. Right now, the platform lists 1 billion assets and sold over 832,700 of them.
- Wallet – Before you go to the market, you’ll need an Enjin Wallet. It’s a digital cryptocurrency wallet that lets you store various cryptos. What’s more, it lets you use dapps (decentralized apps) and keep NFTs all within the wallet. You may download it on iOS or Android.
- Beam – Your assets shouldn’t be kept only in the Enjin network. Let everyone know about them with a Beam campaign. It involves sharing QR codes that link to your works.
- Explorer – This lets you see what’s the latest for Enjin. It lists the recent projects, tokens, and assets on the network. We’ve mentioned one of them in another article. It’s called Azure Heroes, a joint project between Enjin and Microsoft!
The Enjin powering the crypto gaming space
Like its namesake, the Enjin network uses Enjin or ENJ coins. ENJ coins let you buy, sell, and earn from digital assets. It functions as a security token.
Enjin assets have an interesting feature. You may “melt” them into Enjin coins. This opens a whole new world of possibilities, especially for video games.
Let’s say you earned a certain rare item in an Enjin game. You could “melt” that down into ENJ coins. The item disappears, but you get more Enjin tokens.
This means gamers could truly earn by playing! They can grind for hours, looking for valuable items. Then, they could turn those into more Enjin bucks!
“We built the ERC-1155 token standard which is now becoming the most popular #NFT token standard in the world.
Our goal is to build a network of tools for developers, users, and businesses to use these tokens in interesting ways.” —@witekradomski
Watch the full interview 👇 https://t.co/7efmvx5EQY
— Enjin (@enjin) July 8, 2021
Other games also have similar features. Take Axie Infinity as an example. It’s an NFT game outside the Enjin network. Yet, it lets players earn SLP and AXS coins by playing.
In turn, players can use the SLP to buy in-game items. Right now, it’s a popular means of income in the Philippines. However, people prefer turning them in for real money.
Unlike Enjin, you can’t create in-game assets. You may breed and sell Axie pets, but that’s about it. With an Enjin coin price prediction, every in-game goodie can turn into real-world money!
Still, they share one thing in common: the Ethereum network. Both of them are based on ETH. It’s 2nd place in the crypto list, right below bitcoin (BTC).
Like the big BTC, you can mine ENJ. It works like bitcoin mining too. This means you’ll confirm transactions in the Enjin network. It would help if you had the proper software and computer to start.
Why Enjin is a must-have for investors
The other cryptocurrency articles on Inquirer USA judge coins based on real-world use. That’s because short-term crypto price movements are hard to follow.
The prices move almost every second. Coins can break through a resistance level or crash below support within hours! See it for yourself on Binance’s market page or CoinMarketCap.
Instead of short-term price analysis, we prefer long-term forecasts. We base it mainly on the coin’s real-world uses. It’s more likely to grow if it’s useful for various purposes.
If we’re talking about actual use-cases, Enjin has plenty! It’s used by multiple companies right now.
Here are just some examples:
- BMW – Its joint project involves turning BMW Coin reward points into ENJ tokens.
- Samsung – The Korean smartphone brand wants the Samsung Blockchain Keystore integrated into the Enjin Wallet.
- Unity – The game engine maker works with Enjin to bring blockchain to its games and apps.
- Atari – This old-timey gaming company wants blockchain games powered by Enjin.
At the time of writing, the Enjin Coin (ENJ) price was roughly $1.38. Seeing its recent developments, it may reach at least $10.00. Other analysts predict this too.
Investors have just started seeing the yield potential of gaming cryptos. As a result, AXS coins jumped from $3.00 to $18.00 within a month!
There’s no doubt that ENJ could reach a similar all-time high! That’s why Enjin is likely to be a good profitable investment right now. Get your first coins today!
- Choose a crypto exchange. Binance and Coinbase are the biggest ones. Yet, you may pick other platforms too.
- Create an account and then wait a bit.
- Once you get the confirmation email, follow its instructions.
- Link your bank account, debit card, or credit card.
- Choose Enjin and other digital coins you like.
- Select how much you want to buy. The platform will show the latest prices.
- Confirm your purchase.
- Your new cryptos should show up in your account.
Final thoughts
All the opinions expressed in this article are not meant as investment advice. Please research and plan investments on your own. More importantly, be aware of the risks involved.
Start by learning how cryptocurrencies work. See how they’re used in the real world. This will help you find the best cryptos for your portfolio.
Then, study the crypto market. It works similarly to the stock market. Know the crypto market, and you can make Enjin coin price prediction by yourself! It’s much riskier, though.
Still, you can’t completely remove risk from any investment. Always remember that you can lose money. Never invest money you’re not willing to lose.
Learn more about Enjin coin price predictions
What is an Enjin coin?
Enjin (ENJ) coin is the cryptocurrency of the Enjin network. It lets people buy and sell digital assets. Even better, they could turn ENJ tokens into fiat money.
What is an Enjin coin worth?
The price of Enjin coins at the time of writing was around $1.38 each. Please check CoinMarketCap or other sites for the latest quote.
Will Enjin reach $10?
Some Enjin coin price predictions say it may reach $10.00. Investors just found out how profitable gaming cryptos are. Also, it has numerous projects with large corporations. This is a recipe for an amazing all-time high!
Disclaimer: This article is the author’s personal opinion, differing from the “official” statements or facts. All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by Inquirer.net constitutes an investment recommendation, nor should any data or content published by Inquirer.net be relied upon for any investment activities.
Usa.inquirer.net strongly recommends that you perform your own independent research and/or speak
with a qualified investment professional before making any financial decisions.
