The Enjin platform, a blockchain-based ecosystem for generating and managing virtual commodities and in-game objects, is powered by the digital currency Enjin Coin (ENJ). Developers and gamers may incorporate blockchain technology into their games and applications using Enjin Coin, an ERC-20 token on the Ethereum network.
Enjin was established in 2009 as a platform for social gaming communities, providing tools for building websites and forums for gaming communities. With the launch of its ICO for Enjin Coin in 2017, Enjin ventured into the blockchain industry and raised over $18.9 million.
The primary usage of Enjin Coin is as a medium of exchange within the Enjin ecosystem, enabling programmers and gamers to exchange virtual goods on the blockchain. As a result, a decentralised market is created that dispenses with middlemen and centralised management, enabling gamers to actually own their virtual possessions.
In addition, Enjin Coin enables developers to create unique blockchain assets, such as collectibles and gaming goods, which can be sold on the Enjin Marketplace or other marketplaces that work with it. This makes it possible for game developers to make money off of their works and for players to get paid for their in-game success.
Enjin Coin can be used for real-world assets as well as in-game things, including virtual real estate, event tickets, and even in-game assets.
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