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 CryptoJournaal [@CryptoJournaal](/creator/twitter/CryptoJournaal) on x 18.5K followers
Created: 2025-05-24 17:01:17 UTC
#Enjin ( $ENJ ) - #Explainer
[ #Update - May 2025 ]
💡 What is Enjin ( $ENJ )?
Enjin Coin ( $ENJ ) is a cryptocurrency developed by Enjin, a company founded in 2009 in Singapore.
Originally, Enjin started as a gaming community platform called Enjin Network, which grew into a network with over XX million registered users and XXXXXXX gaming communities worldwide.
In 2017, the company transitioned to blockchain technology after a successful Initial Coin Offering (ICO), raising $XXXX million.
Since then, Enjin has focused on building an ecosystem that combines blockchain and gaming, with $ENJ as the central cryptocurrency.
$ENJ is an ERC-20 token originally launched on the Ethereum blockchain in June 2018. However, in September 2023, it migrated to the Enjin Blockchain, a Substrate-based proof-of-stake blockchain specifically designed for non-fungible tokens (NFTs) and gaming applications.
Enjin's goal is to revolutionize the gaming industry by giving players and developers real ownership of digital assets and seamlessly integrating them into games and apps.
#CryptoEcosystem
⚙️ How does Enjin Coin ($ENJ) work?
$ENJ is the backbone of the Enjin ecosystem and serves several functions:
🔸Real ownership of digital assets:
Traditionally, in-game items (such as weapons, skins, or characters) are owned by the game developer and cannot be used or traded outside the game.
Enjin changes this by "tokenizing" these items as NFTs, backed by $ENJ. This means players become true owners of their digital assets and can trade, sell, or even use them in other games.
🔸NFTs with intrinsic value:
When creating ("minting") an NFT on the Enjin platform, a certain amount of $ENJ is locked in the token. This gives the NFT a measurable, real value linked to the market value of $ENJ.
If a player "melts" (destroys) an NFT, they receive the locked $ENJ back, which is a unique mechanism to preserve value.
🔸Interoperability:
Enjin aims to connect games and apps. For example, a sword earned in one game could potentially be exchanged for an item in another game within the Enjin ecosystem.
This is made possible by the ERC-1155 token standard, invented by Enjin’s co-founder Witek Radomski. This standard combines the properties of ERC-20 (fungible tokens) and ERC-721 (unique NFTs), making it more efficient and versatile.
🔸Gaming ecosystem:
Enjin provides a complete suite of tools for developers, such as software development kits (SDKs), APIs, and a user-friendly wallet.
These tools enable game developers to easily integrate blockchain technology into their games, even without deep knowledge of crypto.
#BlockchainInnovation
🪙 The role of $ENJ
The $ENJ token has multiple functions within the Enjin ecosystem:
🔸Governance and staking:
On the Enjin Blockchain, $ENJ is used in a nominated proof-of-stake (NPoS) mechanism to secure the network. Users can stake their $ENJ to support validators and earn rewards, while also gaining influence over the governance of the ecosystem.
🔸Transaction fees:
All transactions on the Enjin Blockchain, such as sending tokens or teleporting assets between chains, require $ENJ to pay fees.
🔸Minting NFTs:
Developers and artists use $ENJ to create NFTs. A portion of the $ENJ is locked in the NFT, making the token scarcer as more NFTs are created.
🔸Trading:
$ENJ serves as the native trading token on the marketplace, where users can buy and sell digital assets.
#Tokenomics
🛠️ Key features:
🔸Open-source:
Anyone can view, use, and build upon Enjin's code. This makes it attractive for developers who want to create their own games or NFT projects.
🔸Interoperability:
Enjin supports trading of all ERC-1155 tokens and other Ethereum-based assets, expanding its range of applications.
🔸Community involvement:
The Enjin community plays an active role in the development of new features and the adoption of blockchain technology in the gaming industry.
🔸Use in DeFi and NFT marketplaces:
Enjin is a key player in both the DeFi space and the world of NFTs, with numerous integrations in gaming and NFT marketplaces.
#BlockchainProgress
📜 History and development:
🔸Foundation and ICO:
Enjin was founded in 2009 as a platform for gaming communities but transitioned to blockchain technology in 2017. After a successful ICO in 2017, $XXXX million was raised to support further development.
🔸Migration to Enjin Blockchain:
In 2023, Enjin migrated from the Ethereum blockchain to its own blockchain, which is specifically designed for gaming and NFT applications.
🔸Efinity and Efinity's Paratokens:
Enjin launched Efinity, a sidechain on Polkadot, for better scalability and lower transaction fees in the NFT space. It introduced "Paratokens," enabling interoperability between different blockchains.
#CryptoHistory
💸 Tokenomics
🔸Total supply:
The total supply of $ENJ is XXX billion tokens, with XXX billion in circulation (as of March 2025).
🔸Emission rate:
$ENJ has a relatively moderate emission rate, with most tokens already in circulation, and scarcity may contribute to higher value over the long term.
🔸Market capitalization:
The market capitalization of $ENJ fluctuates with the market, but it is seen as an established player in the crypto and gaming industry.
#MarketAnalysis
✅ Advantages of Enjin Coin ($ENJ):
🔸Real ownership of digital assets:
Players can truly own their in-game items and use them across various games and platforms.
🔸Innovative technology:
By using the ERC-1155 token standard and the "mint-and-melt" mechanism, Enjin offers unique advantages for both players and developers.
🔸Ecosystem support:
Enjin provides tools that accelerate the adoption of blockchain in the gaming industry, making it attractive for game developers.
#GamingInnovation
⚠️ Disadvantages and challenges:
🔸Market adoption:
The broader adoption of blockchain in the gaming world is still in its early stages, and it will take time to achieve widespread acceptance.
🔸Competition:
Other projects like Decentraland and Axie Infinity also use blockchain technology in gaming, meaning Enjin must compete with these platforms.
🔸Dependence on Ethereum:
Although Enjin now operates on its own blockchain, some of its core functionalities still depend on Ethereum, which can lead to network congestion and high costs.
#CryptoChallenges
🛠️ Applications and adoption:
Enjin is used in various applications:
🔸Blockchain games:
Enjin has integrations with many popular games that use blockchain technology to enhance the value of in-game items.
🔸NFT marketplaces:
The marketplace uses $ENJ for trading digital assets created through the Enjin platform.
🔸DeFi integrations:
Enjin is increasingly integrated into DeFi applications that use blockchain technology for game investors.
#DeFiAdoption
📊 Price and market performance:
The price of $ENJ is volatile, depending on market movements. Historically, $ENJ reached an all-time high of around $XXXX in November 2021. The current price can be checked on platforms like CoinMarketCap or Binance.
#MarketVolatility
🔮 Future outlook:
The future of Enjin depends on the broader adoption of blockchain in gaming and NFT markets. If these markets continue to grow, Enjin could strengthen its position as a leading player.
🔸Gaming and NFT growth:
As gaming and NFTs continue to rise in popularity, $ENJ could maintain a solid position in this rapidly growing industry.
🔸Scalability:
The integration of Enjin Blockchain and Efinity offers improved scalability and lower transaction fees, which could accelerate adoption in the future.
🔸Ecosystem growth:
The continued expansion of the Enjin ecosystem and the adoption of $ENJ by developers could further strengthen the platform.
#GamingFuture
🎯 Conclusion:
Enjin ( $ENJ ) is a powerful project that brings blockchain technology to the gaming world and increases the value of digital assets for players and developers.
With its unique approach to NFTs, gaming, and interoperability, Enjin offers a solid foundation for the future of gaming and DeFi.
#CryptoConclusion
🛒 Want to buy $ENJ?
$ENJ is easy to buy on #Bitvavo:
✅ Over XXX #Altcoins available
✅ Up to €100,000 #AccountGuarantee
✅ Registered with De Nederlandsche Bank (#DNB)
✅ Sign up via the link below and trade up to €10,000 completely #Free!
🔗
#CryptoJournaal #AltcoinPedia #Bitcoin #Crypto #Exchange
📚 Useful resources and additional information:
Want to dive deeper into the world of #Enjin or looking for the latest updates and developments?
These links will help you stay informed:
🔹GitHub:
🔹Official Website:
🔹Reddit:
🔹X (Twitter): @enjin
#CryptoResources #StayInformed
⚠️ Important note:
🔹 This post is purely for educational purposes and not financial advice!
🔹 Only invest what you are willing to lose:
#CryptoInvestments can be volatile, and you may lose part or all of your investment.
🔹 Always do your own research (#DYOR):
Do thorough research on #crypto-assets, platforms, and wallets before investing.
🔹 Understand the risks of volatility:
The value of #cryptocurrencies can change rapidly, so be prepared for price fluctuations.
🔹 Keep your private keys safe:
Losing your private keys can result in losing access to your crypto assets.
🔹 Use reliable platforms:
Make sure you trade crypto through trusted and regulated exchanges or wallets that meet necessary security standards.
#CryptoRules #CryptoSafety #CryptoRisks #Dyor
XXX engagements
**Related Topics**
[gaming](/topic/gaming)
[singapore](/topic/singapore)
[cryptocurrency](/topic/cryptocurrency)
[$enj](/topic/$enj)
[coins layer 1](/topic/coins-layer-1)
[coins nft](/topic/coins-nft)
[coins gaming](/topic/coins-gaming)
[coins entertainment](/topic/coins-entertainment)
[Post Link](https://x.com/CryptoJournaal/status/1926322623387984152)
[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]
CryptoJournaal @CryptoJournaal on x 18.5K followers
Created: 2025-05-24 17:01:17 UTC
#Enjin ( $ENJ ) - #Explainer
[ #Update - May 2025 ]
💡 What is Enjin ( $ENJ )?
Enjin Coin ( $ENJ ) is a cryptocurrency developed by Enjin, a company founded in 2009 in Singapore.
Originally, Enjin started as a gaming community platform called Enjin Network, which grew into a network with over XX million registered users and XXXXXXX gaming communities worldwide.
In 2017, the company transitioned to blockchain technology after a successful Initial Coin Offering (ICO), raising $XXXX million.
Since then, Enjin has focused on building an ecosystem that combines blockchain and gaming, with $ENJ as the central cryptocurrency.
$ENJ is an ERC-20 token originally launched on the Ethereum blockchain in June 2018. However, in September 2023, it migrated to the Enjin Blockchain, a Substrate-based proof-of-stake blockchain specifically designed for non-fungible tokens (NFTs) and gaming applications.
Enjin's goal is to revolutionize the gaming industry by giving players and developers real ownership of digital assets and seamlessly integrating them into games and apps.
#CryptoEcosystem
⚙️ How does Enjin Coin ($ENJ) work?
$ENJ is the backbone of the Enjin ecosystem and serves several functions:
🔸Real ownership of digital assets:
Traditionally, in-game items (such as weapons, skins, or characters) are owned by the game developer and cannot be used or traded outside the game.
Enjin changes this by "tokenizing" these items as NFTs, backed by $ENJ. This means players become true owners of their digital assets and can trade, sell, or even use them in other games.
🔸NFTs with intrinsic value:
When creating ("minting") an NFT on the Enjin platform, a certain amount of $ENJ is locked in the token. This gives the NFT a measurable, real value linked to the market value of $ENJ.
If a player "melts" (destroys) an NFT, they receive the locked $ENJ back, which is a unique mechanism to preserve value.
🔸Interoperability:
Enjin aims to connect games and apps. For example, a sword earned in one game could potentially be exchanged for an item in another game within the Enjin ecosystem.
This is made possible by the ERC-1155 token standard, invented by Enjin’s co-founder Witek Radomski. This standard combines the properties of ERC-20 (fungible tokens) and ERC-721 (unique NFTs), making it more efficient and versatile.
🔸Gaming ecosystem:
Enjin provides a complete suite of tools for developers, such as software development kits (SDKs), APIs, and a user-friendly wallet.
These tools enable game developers to easily integrate blockchain technology into their games, even without deep knowledge of crypto.
#BlockchainInnovation
🪙 The role of $ENJ
The $ENJ token has multiple functions within the Enjin ecosystem:
🔸Governance and staking:
On the Enjin Blockchain, $ENJ is used in a nominated proof-of-stake (NPoS) mechanism to secure the network. Users can stake their $ENJ to support validators and earn rewards, while also gaining influence over the governance of the ecosystem.
🔸Transaction fees:
All transactions on the Enjin Blockchain, such as sending tokens or teleporting assets between chains, require $ENJ to pay fees.
🔸Minting NFTs:
Developers and artists use $ENJ to create NFTs. A portion of the $ENJ is locked in the NFT, making the token scarcer as more NFTs are created.
🔸Trading:
$ENJ serves as the native trading token on the marketplace, where users can buy and sell digital assets.
#Tokenomics
🛠️ Key features:
🔸Open-source:
Anyone can view, use, and build upon Enjin's code. This makes it attractive for developers who want to create their own games or NFT projects.
🔸Interoperability:
Enjin supports trading of all ERC-1155 tokens and other Ethereum-based assets, expanding its range of applications.
🔸Community involvement:
The Enjin community plays an active role in the development of new features and the adoption of blockchain technology in the gaming industry.
🔸Use in DeFi and NFT marketplaces:
Enjin is a key player in both the DeFi space and the world of NFTs, with numerous integrations in gaming and NFT marketplaces.
#BlockchainProgress
📜 History and development:
🔸Foundation and ICO:
Enjin was founded in 2009 as a platform for gaming communities but transitioned to blockchain technology in 2017. After a successful ICO in 2017, $XXXX million was raised to support further development.
🔸Migration to Enjin Blockchain:
In 2023, Enjin migrated from the Ethereum blockchain to its own blockchain, which is specifically designed for gaming and NFT applications.
🔸Efinity and Efinity's Paratokens:
Enjin launched Efinity, a sidechain on Polkadot, for better scalability and lower transaction fees in the NFT space. It introduced "Paratokens," enabling interoperability between different blockchains.
#CryptoHistory
💸 Tokenomics
🔸Total supply:
The total supply of $ENJ is XXX billion tokens, with XXX billion in circulation (as of March 2025).
🔸Emission rate:
$ENJ has a relatively moderate emission rate, with most tokens already in circulation, and scarcity may contribute to higher value over the long term.
🔸Market capitalization:
The market capitalization of $ENJ fluctuates with the market, but it is seen as an established player in the crypto and gaming industry.
#MarketAnalysis
✅ Advantages of Enjin Coin ($ENJ):
🔸Real ownership of digital assets:
Players can truly own their in-game items and use them across various games and platforms.
🔸Innovative technology:
By using the ERC-1155 token standard and the "mint-and-melt" mechanism, Enjin offers unique advantages for both players and developers.
🔸Ecosystem support:
Enjin provides tools that accelerate the adoption of blockchain in the gaming industry, making it attractive for game developers.
#GamingInnovation
⚠️ Disadvantages and challenges:
🔸Market adoption:
The broader adoption of blockchain in the gaming world is still in its early stages, and it will take time to achieve widespread acceptance.
🔸Competition:
Other projects like Decentraland and Axie Infinity also use blockchain technology in gaming, meaning Enjin must compete with these platforms.
🔸Dependence on Ethereum:
Although Enjin now operates on its own blockchain, some of its core functionalities still depend on Ethereum, which can lead to network congestion and high costs.
#CryptoChallenges
🛠️ Applications and adoption:
Enjin is used in various applications:
🔸Blockchain games:
Enjin has integrations with many popular games that use blockchain technology to enhance the value of in-game items.
🔸NFT marketplaces:
The marketplace uses $ENJ for trading digital assets created through the Enjin platform.
🔸DeFi integrations:
Enjin is increasingly integrated into DeFi applications that use blockchain technology for game investors.
#DeFiAdoption
📊 Price and market performance:
The price of $ENJ is volatile, depending on market movements. Historically, $ENJ reached an all-time high of around $XXXX in November 2021. The current price can be checked on platforms like CoinMarketCap or Binance.
#MarketVolatility
🔮 Future outlook:
The future of Enjin depends on the broader adoption of blockchain in gaming and NFT markets. If these markets continue to grow, Enjin could strengthen its position as a leading player.
🔸Gaming and NFT growth:
As gaming and NFTs continue to rise in popularity, $ENJ could maintain a solid position in this rapidly growing industry.
🔸Scalability:
The integration of Enjin Blockchain and Efinity offers improved scalability and lower transaction fees, which could accelerate adoption in the future.
🔸Ecosystem growth:
The continued expansion of the Enjin ecosystem and the adoption of $ENJ by developers could further strengthen the platform.
#GamingFuture
🎯 Conclusion:
Enjin ( $ENJ ) is a powerful project that brings blockchain technology to the gaming world and increases the value of digital assets for players and developers.
With its unique approach to NFTs, gaming, and interoperability, Enjin offers a solid foundation for the future of gaming and DeFi.
#CryptoConclusion
🛒 Want to buy $ENJ?
$ENJ is easy to buy on #Bitvavo:
✅ Over XXX #Altcoins available
✅ Up to €100,000 #AccountGuarantee
✅ Registered with De Nederlandsche Bank (#DNB)
✅ Sign up via the link below and trade up to €10,000 completely #Free!
🔗
#CryptoJournaal #AltcoinPedia #Bitcoin #Crypto #Exchange
📚 Useful resources and additional information:
Want to dive deeper into the world of #Enjin or looking for the latest updates and developments?
These links will help you stay informed:
🔹GitHub:
🔹Official Website:
🔹Reddit:
🔹X (Twitter): @enjin
#CryptoResources #StayInformed
⚠️ Important note:
🔹 This post is purely for educational purposes and not financial advice!
🔹 Only invest what you are willing to lose:
#CryptoInvestments can be volatile, and you may lose part or all of your investment.
🔹 Always do your own research (#DYOR):
Do thorough research on #crypto-assets, platforms, and wallets before investing.
🔹 Understand the risks of volatility:
The value of #cryptocurrencies can change rapidly, so be prepared for price fluctuations.
🔹 Keep your private keys safe:
Losing your private keys can result in losing access to your crypto assets.
🔹 Use reliable platforms:
Make sure you trade crypto through trusted and regulated exchanges or wallets that meet necessary security standards.
#CryptoRules #CryptoSafety #CryptoRisks #Dyor
XXX engagements
Related Topics gaming singapore cryptocurrency $enj coins layer 1 coins nft coins gaming coins entertainment