What is Enjin? (ENJ)

The Beginner’s Guide

Enjin Coin (ENJ) is known as a product of Enjin company. The company operates as a blockchain-based game company. Enjin’s flagship Enjin Network enables real-time sales of users, clans and virtual collections. First announced in July 2017, the project was launched on the Ethereum (ETH) network in June 2018.

What are the Characteristics of Enjin?

Enjin is seen as a blockchain-based value storage unit, including unique tokens (NFT). All ENJ tokens are extracted and burned in NFTs. The benefits you will get if you issue Enjin tokens in the network:

  • They should be shown as a reserve value,
  • To ensure that Enjin tokens are restricted and transparent,
  • Instant liquidity provision
  • Benefits in games and applications
  • Deflationary currency (increasing purchasing power)
  • Thanks to Enjin’s melting function, you can collect the true value of all blockchain-based assets.

How Enjin Company Developed

Enjin was first found as an active company in the gaming ecosystem in 2009. But over time it has shifted towards the blockchain-based gaming industry. The company, which went to the ICO in 2017, proved itself as one of the most effective game companies in the blockchain field as a result of its success. Thanks to this, Enjin turned itself into one of the most known and trusted companies in the blockchain space. Finally, the company’s co-founder, Witek Radomski, created the first NFT and then created the ERC-1155 token standard over Ethereum (ETH).

Who Are the Founders of Enjin?

It was first founded in 2009 by Maxim Blagov and Witek Radomski to become a community for gamers. Three years later, when Radomski became interested in Bitcoin (BTC), the firm started accepting payments in Bitcoin. After Radomski became interested in Bitcoin, he created a software that can be integrated into the network after taking an interest in Ethereum. As a result, the ERC-1155 standard was implemented and stood out as a platform where both unique and similar tokens were created.

What Makes Enjin Different From Other Blockchain Projects?

The most important difference from Ethereum-based game projects is that it is known as the only project for both in-network and off-network solutions. The second feature is the company that created the standard known as ERC-1155. In this way, they can be integrated into the network independently of Ethereum. Finally, as long as you issue personal tokens, it is aimed to increase the value of Enjin tokens as a result of burning Enjin tokens.

What are the Enjin Platform’s Products?

1. Platform

Being the first product of Enjin, the platform allows your NFTs to be integrated within the network without writing code. Thanks to the platform, you can develop games and create virtual worlds of the future. Then you can easily run blockchain-based web, mobile and computer applications. Finally, you can apply blockchain technology to the website with a small amount of code.

If you create the applications you want, you can create a panel to extract your NFTs. The panel creates your similar and unique tokens through a simple interface. Second, thanks to the platform, you can earn Enjin tokens as your products are sold. Finally, you can build your application using Unity, Godot and Java and integrate it into the platform.

2. Wallet

The wallet, the second application of Enjin, is a mobile wallet that enables cryptocurrency and NFT transactions. You can install it on the Google Play Store and Apple App Store and interact with the network.

In Enjin wallet, you will not come across any features that follow you or advertisements that may annoy you. You have your own keys and a 12 word password backup. Second, you can store all tokens in the standards of Bitcoin, Ethereum, Litecoin (LTC), Binance Coin (BNB), Dogecoin (DOGE), ERC-20, ERC-721 and ERC-1155. Finally, you can interact with all decentralized applications (dApp) without compromising security.

3. Market

Allows trading of all NFTs listed on the platform on the Enjin market. Thanks to the market, you can access tokens from leading blockchain projects, buy game items and collections via Enjin Wallet, and expand your inventory. As another feature, you can create your own market by listing your NFTs. In your market, you can tailor it to your needs, thus creating a platform for your customers. Finally, Enjin is working on creating an API for the market in market application.

4. Beam

You can expand your target audience through QR codes on the Beam application, Enjin.

You can use QR codes to interact with your fans, convert them into customers, and build thriving community of players.

4-1. How Does Beam Work?

First, create your QR code through Beam’s visual interface. Write down the amount and type of reward in the QR code. You can also generate secret code. But secret codes are only unlocked once. Secondly, I share your QR codes in many places, allowing many people to reach them. Finally, after introducing the QR code on Enjin Wallet, you can get your reward.

What are the Solutions Enjin Provides?

Enjin provides different solutions in the game industry, cryptocurrency and software fields. Solutions can be limited to games, crypto and software.

1. Games

On the Enjin platform, you can improve your game world through advanced designs, smart growth, and better monetization.

The Games solution allows you to change virtual worlds by creating blockchain-based synchronous games.

The most important features of the Games solution lie in its decentralized database, playing for you to win, fair monetization, creative freedom, and indispensable value. Looking at the game industry, central databases have enabled it to move to an extremely advantageous position within the game industry, solving the problems of payment requirement to win, lost revenues, not sharing the design with anyone and decreasing its value.

2. Crypto

We can say that Enjin’s second solution is used to attract users to the Enjin ecosystem through exchanges. You can create volume in cryptocurrency trading transactions through exchanges, increase your investors through tokens and get loyal followers through the website.

3. Software

Working as the main solution of Enjin, you can use the software to increase your customer ratio, win back your customers and direct them to blockchain rewards.

In the first phase of the software solution, you encourage online participation. Afterwards, you can reward your users for using the software and then gain satisfied users.

With the software solution, you can use achievements, points, rewards, discounts and more with a single button, generate a QR code, send and trigger rewards. In this way, you can easily interact with your users through the software solution and grow your community organically.

Note: The information, comments and evaluations contained here are NOT in the Scope of Investment Consultancy. Keep following the SinceCoin.

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