Crypto Corner: a profile on ENJ

Ready to get to know another new token? This week, we’re diving deeper into the utility token for NFTs, Enjin Coin (ENJ).

So, what’s the deal?

What’s it all about?

ENJ is the native token of Enjin, a suite of integrated products designed to make it easy to create and manage virtual goods on the Ethereum blockchain.

Within the ecosystem is the Enjin Platform, which allows developers to create NFTs using Software Development Kits (SDK). SDKs let you integrate support for blockchain assets into your apps and games without the need to write any blockchain code.

What can you do with ENJ?

ENJ represents value within the Enjin ecosystem. It’s used to directly back the value of digital assets minted on the Enjin network, giving them real-world value.

To mint virtual goods, ENJ must be locked into a smart contract which assigns value to the item being minted.

Within the Wirex ecosystem, ENJ can be bought, exchanged, HODLed or spent in real life. And don’t forget, we offer some of the best rates on the market.

Who came up with the idea?

Enjin started life as a community gaming platform called the Enjin Network in 2009. The Enjin Network still exists today and lets you build websites, forums and gaming apps.

The company’s move into blockchain came in 2017, following an ICO of ENJ that raised £18.9 million. In 2018, it released a blockchain wallet known as the Enjin Wallet. The Enjin Platform then launched later that year, initially designed for game developers to issue fungible and non-fungible assets as in-game Ethereum tokens.

Any fun facts?

Enjin is a pioneer of the NFT industry - it’s been empowering people to create their own NFTs since 2017.

And ENJ is much more than just a currency - it has a clearly defined use-case. Items listed on the Enjin Marketplace can be used in games like Lost Relics and Spirit Clash, and can be transferred to other players using ENJ.