Deepika- ENJ coin received a lot of traction from people.
- The growth of the ENJ coin was due to the ENJ platform.
For quite some time now, several blockchain-based non-fungible tokens have been exacerbating the rise of Web3. The NFT-based projects present an opportunity to store crucial data on their blockchain with exalting visual effects. Among all those hundreds of blockchain-based technologies, it was Enjin that accumulated the most interest. Co-founded in 2009 by Maxim Blagov and Witek Radomski, Enjin has continued to grow its services. It has provided more growth to its ecosystem, whereby developers can purchase, design, and monetize their activities through NFTs. Also, the Enjin wallet developers share NFTs directly with other addresses.
Understanding Enjin Coin
Enjin coin is the native cryptocurrency traded on the Enjin ecosystem, similar to an ERC-20 token. Each of those tokens minted using Enjin is strongly backed by ENJ or Enjin coins. With the rise of the Enjin coin, a whole new dimension and possibilities related to blockchain gaming have been opened. The blockchain gaming industry is one of the few sectors in the crypto world that has steadily grown in stature. Almost 25,000 plus gaming communities are part of the Enjin ecosystem, where 18.7 million are registered gamers.
The Enjin platform, through the help of JumpNet, can facilitate gas-free transactions, thereby providing a seamless user experience. This helps integrate several other products like Enjin Beam, marketplace, and wallet into the Enjin ecosystem. Even some of the most renowned companies have chosen Enjin as their blockchain-based platform, including Microsoft, Samsung, and BMW. The Enjin coin is slowly getting the recognition it deserves through the growth of its native platform.
Future of Enjin Coin as a Digital Asset
Due to the option of minting coins for gaming environments through the space of NFTs, the Enjin Coin platform and its token have continued to look after the viable options present to operate those businesses. Recently, the NFT or crypto space has been experiencing the injection of new people, hugely benefiting the industry. The virtual economy, which many of us previously knew, would go through a massive change for multiple years. Thus, the medium of NFTs and digital currencies is best in those categories.
When it comes to leadership, the Enjin platform is among the investors’ first touted names. This is because the wide range of solutions that Enjin offers to its investors and holders cannot be compared to others. Therefore, such upgraded activities have only resulted in Enjin coin getting a boost in terms of price action. There are some developers who still require the help of NFTs and other cumulative projects. Thus, without the understanding of what’s happening might not provide a good idea.
Conclusion
Only a total of 1 billion ENJ tokens were released into the market for the proliferating growth of this platform. Hence, with the help of renewed activities across the timber chain, this new cryptocurrency might change multiple scenarios.
