What is Enjin Coin (ENJ)?

What is Enjin Coin (ENJ)?

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Enjin Coin is an initiative of Enjin, a firm that offers a linked ecosystem of blockchain-based gaming goods. The Enjin Network is the company's main product, a social gaming network that enables users to build websites and clans, communicate, and run virtual goods shops.\

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Enjin Coin (ENJ) is a digital store of value in addition to being an innovative project that can be used to support the value of non-fungible blockchain assets such as tokens, also known just as NFTs.

Each asset coined on the Enjin Platform includes ENJ, a minting resource that is securely stored in NFTs and is therefore withdrawn from circulation. Minting blockchain assets using ENJ has several advantages for both developers and users:

  • They are endowed with a reserve value.
  • Assures their visibility and scarcity
  • Provides them with liquidity in their situations
  • Contributes functionality to games and applications
  • Anti-inflationary
  • Enjin's “melting” feature enables users to destroy their blockchain assets at any moment to recover their ENJ value.


The Enjin blockchain ecosystem's mission is to provide software tools that make it simple for anybody to create, trade, monetize, and promote blockchain applications. A unique feature of Enjin is that it allows game developers to connect to and use the Ethereum blockchain so that they can tokenize their in-game assets.

It utilizes Enjin Coin, an ERC-20 token, to back the digital assets released via its platform, allowing for the purchase, sale, and trading of products with real-world value.


Component Enjin Coin (ENJ)
Technologies PoW, Smart Contracts, Minting, Smart Wallet, Public API, Payment Gateway, Automatic Payments, SDKs, Escrow
Market Capitalization $1.8 Billion+
Open-Source Yes
Consensus Mechanism Proof of Work
Smart Contracts Yes
Founders/Authors Maxim Blagov, Witek Radomski
Launch Date 2018
Circulating Supply of Coins 847,535,706 ENJ
Maximum Coin Supply 1,000,000,000 ENJ
Mining-based Coin? No
Is Enjin Coin a Stablecoin? No
Does Enjin Coin have a burn rate? No
Does Enjin Coin have a Whitepaper? Yes, the white paper can be viewed here 


Evolution and Development of Enjin Coin

Enjin was founded in 2009, and its original product, a gaming network platform called the Enjin Network, grew to 20 million members over a decade.

Blagov has said that he has expertise in creative direction, marketing, as well as project management and software design. Radomski originally introduced the notion of bringing blockchain to Enjin in 2012, after becoming interested in Bitcoin (BTC) and subsequently persuaded the firm to adopt it as a payment option.

He chose to design his own blockchain-integrated program after hearing about Ethereum and smart contracts. Radomski is also the creator of the ERC-1155 token standard, a new specification for Ethereum-issued tokens that was launched in June 2018, completed in June 2019, and is used to mint both fungible and nonfungible tokens.

Enjin established itself as a prominent blockchain ecosystem developer in 2017 after an initial coin offering, developing a suite of software solutions that enables anybody to effortlessly manufacture, administer, exchange, transfer, and integrate blockchain assets.

The Enjin ecosystem, which is built on an on-chain infrastructure, allows game creators and enterprises of all sizes to employ tokenized digital assets in their acquisition, engagement, participation, and monetization strategies.

 Enjin's ecosystem is driven by Enjin Coin (ENJ), a cryptocurrency that serves as a reserve for the value of blockchain assets. Enjin Coin was deployed on the Ethereum mainnet in June 2018 after being announced in July 2017.


What makes Enjin Coin unique?

Enjin Coin's fundamental premise is that blockchain technology can streamline the process of exchanging in-game or virtual assets.

Similarly to how blockchain may be used to manage other assets in the real world (think of Ripple and XRP, which are meant to aid in the facilitation of monetary operations), ENJ is used to govern virtual supplies.

If this all seems a little meta — virtual money for virtual goods — it is. Enjin's software development kits (SDKs) enable game creators to create “mint.” Developers may use SDKs to build virtual goods for inclusion in games or apps.

These produced objects are assigned a monetary value in ENJ, making it simple to buy and sell them via Enjin's marketplace. Because each item has a value in ENJ, a traded cryptocurrency, it also has real-world worth.

These digital assets are effectively non-fungible tokens and may be exchanged for multiples of their original value. Developers interested in creating in-game assets may begin by acquiring ENJ from an exchange, “minting” an item, trading or selling it in-game, or even “melting” it — which refers to the process of converting an object back to ENJ.

While Enjin Coin is meant to operate and integrate blockchain-based exchanging systems into video games or virtual worlds, it may also be utilized in other applications.

For example, sports teams and clubs can be able to utilize it to create digital assets to distribute as prizes.


What are the main uses for Enjin Coin?

Enjin enables users to manage and save virtual gaming items such as character accessories and in-game currency. Additionally, users may get Enjin coins by selling NFTs. ENJ may be used as a medium of exchange to purchase, sell, and trade NFTs.

ENJ can create, manage, and destroy in-game things. Developers may create their own bespoke tokens, one-of-a-kind goods, or privilege tokens that are backed by Enjin Coin.

Additionally, customers can deposit ENJ and receive interest on it on specific exchanges. Enjin is a platform that is utilized by loyalty reward programs.

For example, as part of its collaboration with BMW, NFTs include loyalty points that may be redeemed for gasoline, parking, road tolls, or even ENJ.

Some examples of games that use Enjin Coin or ENJ digital assets are:

  • Space Misfits
  • 9Lives Arena
  • The Six Dragons
  • War of Crypta
  • Nestables


What is the future potential for Enjin Coin?

Currently, the Enjin platform attracts 60 million monthly worldwide views and generates millions of dollars in virtual goods sales through Enjin community shops.

Enjin's Enjin Coin promises to transform the process of creating and managing virtual commodities. ENJ has both short- and long-term potential: it offers unique features and value propositions that are not presently available from rivals. Additionally, a robust community backs it.

In recent years, an increasing number of investors have recognized the potential of gaming cryptos. Enjin has acquired a respectable amount of funds via its initial coin offering (ICO).

If ENJ grows in popularity and acceptance, it has the potential to become a widely utilized cryptocurrency in the gaming world. According to Enjin's prior accomplishments, it undoubtedly has a bright future ahead of it.


Price analysis on Enjin Coin

Enjin Coin was initially launched in 2018, and its price analysis over the past four years are as follows:


  2018 2019 2020 2021 to date
ENJ Price High $0.445 $0.215 $0.244 $4.68
ENJ Price Low $0.022 $0.025 $0.044 $0.136
Market Cap $336.97M $164.61 $201.01M $3.93B


Price prediction on Enjin Coin

Numerous Enjin Coin (ENJ) price forecasts have been issued, and if the network focuses on reducing transaction costs, the ENJ price may continue to rise.

Before the end of 2023, the ENJ price may reach $2.913, making it a successful investment. The Enjin token is a good long-term investment vehicle.

According to ENJ's price forecast, a long-term rise is anticipated; the price forecast for 2026 is $15.295. With a five-year investment, revenue is predicted to increase by around 600%.


Which wallets are the best option for storing Enjin Coin?

The best option for storing, sending, and receiving ENJ coins are as follows:

  1. Coinbase Wallet
  2. Carbon Wallet
  3. CoinCorner Wallet
  4. Exodus Wallet Review
  5. Enjin Wallet


1. Coinbase Wallet: Coinbase is one of the most popular crypto exchanges that offer the use of its native crypto wallet. The wallet is extremely secure and user-friendly, with a few features that make this wallet worth the consideration.


2. Carbon Wallet: Carbon Wallet was created by the same dev team as the NEO blockchain. It is a hybrid and multi-currency wallet that can work as a web extension and mobile app.


3. CoinCorner Wallet: CoinCorner is an innovative crypto wallet that can be used on Windows computers as well as mobile devices that run Android and iOS. The wallet also allows for the purchase of cryptocurrencies from within the wallet.


4. Exodus Wallet Review: Exodus is a multi-currency wallet that now supports over a hundred different cryptocurrencies. Initially exclusively accessible on PC, the Exodus mobile app is now available on Android and iOS devices.

The wallet supports many alternative currencies, including Bitcoin. Without needing registration, the wallet may be used to swap bitcoin.

However, it is important to understand that Exodus is a lightweight wallet that utilizes Simplified Payment Verification.


5. Enjin Wallet: The Enjin Wallet is a critical component in making everything simple to use. By building on the success of the current light wallet design, the Enjin Wallet simplifies the user experience even further by connecting with trusted games and websites.

Each trustworthy platform's user account will be synchronised with the user's Ethereum address.

Best Bitcoin Wallets are the same as ENJ coins wallets.

Where can you buy Enjin Coin?

ENJ coins can be bought, sold, and exchanged on these popular exchanges:

  1. Gemini
  2. Coinbase
  3. Kriptomat
  4. Bittrex
  5. Gate.io


1. Gemini: Gemini is a crypto exchange trading platform as well as an innovative wallet provider that provides investors with access to 26 different currencies and tokens.

Gemini was founded in the United States and is now spreading internationally, particularly in Europe and Asia. There are both large-scale cryptocurrency initiatives such as Bitcoin and Ethereum and smaller altcoins.


Account sign-up is quick and can take only a few minutes There are commission charges as well as a convenience fee
There is a choice between powerful trading platforms offered  
The exchange caters to all types of traders  
The hot wallets that are offered have insurance, protecting investors from theft  


2. Coinbase: Coinbase is one of the major cryptocurrency trading platforms on the Internet. Coinbase makes it very easy to purchase and sell key cryptocurrency pairings.

Additionally, Coinbase's unique Coinbase Earn tool allows you to earn bitcoin incentives. Advanced traders will appreciate Coinbase Pro's expanded order types and increased capabilities.


The platform is user-friendly and easy to navigate The platform charges higher fees than competitors
There is a comprehensive and powerful mobile app that mirrors the rich functionality of the desktop app  
The exchange provides traders Coinbase Earn that rewards them generously  


3. Kriptomat: Kriptomat is a crypto exchange that is based in Estonia. The platform is a gateway for simple and reliable fiat-to-crypto trades, well-regulated by legislation in Europe.

Kriptomat offers services to more than 80 countries, and it is globally recognised as an exchange with a high trust score.


The exchange is user-friendly and ideal for beginner traders There are no advanced trading features
The exchange charges low fees and there are high limits There are privacy risks
The exchange has a high level of trustworthiness  
The platform is a secure fiat-to-crypto gateway  


4. Bittrex: Several digital assets can be traded on Bittrex (a controlled cryptocurrency exchange). It was launched in 2014 with a concentration on crypto-to-crypto trading but recently included USD purchases.

In addition to minimal trading costs, Bittrex offers low buy minimums, enhanced security measures, and a large range of crypto trading pairings.


There are low trading costs  There are only 57 crypto assets available for instant purchase using USD
The exchange is available across the globe The trading interface can be confusing for beginners
The platform features robust security features  
There are more than 200 trading pairs offered  


5. Gate.io: Gate.io is one of the most versatile and innovative exchanges in the cryptocurrency market, offering some of the most extensive trading opportunities, digital assets, and benefits.

Gate.io is also the go-to platform for Initial Exchange Offerings (IEOs), margin trading with leverage, and other financial services such as lending or borrowing.


There are more than 180 digital assets offered Fiat deposits are not allowed
The exchange provides more than 400 markets that can be traded Unregulated
The platform is excellent for IEOs There is some lack of transparency
There is a comprehensive and robust mobile app offered The interface is untidy and can be complex for beginners
Customer support is prompt and helpful  

You can buy Enjin safely from these cryptocurrency platforms.

What is Enjin Coin’s largest Competitor?

Lisk is the largest competitor of Enjin Coin.

Lisk is a cryptocurrency designed to serve as a platform for the development and deployment of decentralized apps (DApps), which are specialized programs that run on a network of computers sharing software.

The project's goal is to enable developers to rapidly transfer skills for producing DApps by enabling them to write programs in the JavaScript and Typescript languages, which are both widely used in web development in general.

However, Lisk allows developers to construct new decentralized applications and cryptocurrencies through what it refers to as “sidechains,” which are independent blockchains that operate inside the Lisk network. These sidechains are connected to the Lisk blockchain and may be customized to meet the demands of Lisk-based applications.

Lisk is the cryptocurrency that runs the Lisk blockchain. It is required to pay for critical activities and vote on proposed changes to the software's rules.


What can Enjin Coin smart contracts do?

Smart contracts offer core functionality on the blockchain, and Enjin Coin employs the following smart contracts:

  • The Mint
  • Payment Gateway Contract
  • Smart Wallet Contract
  • Subscription Contract
  • Customer Chain Registry
  • TopList Contracts


Is Enjin Coin a Good Investment?

Yes, Enjin Coin is a good investment.

Enjin Coin is a very new cryptocurrency with some unusual use cases, and it may be particularly appealing to crypto investors who are into gaming and the gaming sector. Enjin Coin brings blockchain advantages to the over $17 billion virtual goods business.

The team is dedicated to preventing fraud in the gaming business and granting legitimate ownership to holders of virtual goods. The project has a strong base of support, having been created and funded by gaming giant Enjin.


What is the supply and distribution of Enjin Coin?

The Enjin Coin maximum supply is 1 billion tokens. However, as the ecosystem expands, the number of coins circulating will decrease as more ENJ is locked into in-game digital assets.

Enjin Coin was originally made available for purchase in September 2017 at a presale event when 400 million ENJ were sold for 38,800 ETH ($12 million), with another 100 million ENJ given out as bonuses.

Pre-sale sold and gave away 50% of total stock. In October 2017, 300 million ENJ — 30% of the entire supply — were sold in an ICO. The ICO raised 75,041 ETH ($18.9 million). Non-sold tokens were frozen for six months to be utilized for community projects and marketing. An additional 10% of the total token supply was earmarked for team members and advisers.

On-boarding team member tokens were locked for the first six months, while advisor tokens were locked for two months before being completely released.


Is Enjin Coin a viable Alternative Coin?


  • Hacking – There have been no hacks to the blockchain
  • Security – The project emphasises security and provides robust innovations to ensure that the network remains secure.
  • Technology – Enjin Coin uses innovative technological advances including PoW, Smart Contracts, Minting, Smart Wallet, Public API, Payment Gateway, Automatic Payments, SDKs, Escrow
  • Potential Investment – the project forms part of the trending NFT gaming community, which means that there is a lot of potentials for it to become a viable investment.

Any cryptocurrency that isn't Bitcoin is referred to as an altcoin.

What are the differences between Enjin Coin and Bitcoin?

Bitcoin was launched in 2009, and it serves as an ideal way for funds to be transferred cross-border at a fraction of the cost of conventional banking. Bitcoin is a digital currency that aims to become the ultimate payment system that is free of control.

Enjin is built for game integration—you may use Enjin Coin as money and the Enjin wallet to purchase, sell, and trade NFTs.


  Bitcoin Enjin Coin
Price change 20/21 +400% +950%
Market Cap $800 Billion+ $1.8 Billion+
Past Hacks None None
Popularity Very High Low
Altcoin Rank #1 – Original Crypto #64


What are the differences between Enjin Coin and Ethereum?

Ethereum is a cryptocurrency with its own blockchain (Ether or ETH). Initiated by Ethereum, this blockchain offers decentralized applications (DApps).

This platform's application of smart contracts has revolutionized the notion of prospective blockchain uses, showing the technology's full potential. Enjin Coin (ENJ) is an Enjin Coin ERC-20 token.

Binance offers it with the ENJ/BTC pair. The Enjin game development platform helps produce and manage blockchain assets.


  Ethereum Enjin Coin
Price change 20/21 +880% +950%
Market Cap $460 Billion+ $1.8 Billion+
Past Hacks None None
Popularity Very High Low
Altcoin Rank #2 #64


What are the differences between Enjin Coin and Dogecoin?

Dogecoin (DOGE) was created in 2013 as a joke but soon acquired popularity. To tip content providers, it became a virtual currency on Reddit and Telegram.

Because the designers had no significant goals for their money, they did not create a roadmap or focus on improving it much. Enjin Coin (ENJ) is an Enjin Coin ERC-20 token. The Enjin game development platform helps produce and manage blockchain assets.


  Dogecoin Enjin Coin
Price change 20/21 +7,300% +950%
Market Cap $22 Billion+ $1.8 Billion+
Past Hacks None None
Popularity High Low
Altcoin Rank #12 #64


What are the differences between Enjin Coin and NEO?

Neo is an open-source, community-driven platform that uses blockchain technology to create the future's ideal digital environment.

Enjin Coin is an initiative of Enjin, a firm that delivers a blockchain-based gaming environment. The Enjin Network is a social gaming network where players may build websites, clans, and virtual goods shops.


  NEO Enjin Coin
Price change 20/21 +160% +950%
Market Cap $1.70 Billion+ $1.8 Billion+
Past Hacks None None
Popularity Medium Low
Altcoin Rank #69 #64


What are the differences between Enjin Coin and Cardano?

Cardano (ADA) is a 2017 crypto project on the Cardano. Cardano is the first cryptocurrency to employ academically peer-reviewed open-source code. Cardano uses Proof-of-Stake for consensus. Cardano is known for its high degree of security and speed.

A fast-rising cryptocurrency, Cardano is already one among the top ten in terms of market valuation. Enjin Coin (ENJ) is an ERC-20 token developed and launched on the programmable blockchain of Ethereum, helping to produce and manage blockchain assets.


  Cardano Enjin Coin
Price change 20/21 +2,100% +950%
Market Cap $42 Billion+ $1.8 Billion+
Past Hacks None None
Popularity Very High Low
Altcoin Rank #7 #64


What are NFTs?

Non-fungible tokens, or NFTs, are data units with unique identifiers. They were launched in 2014 and may be purchased and traded similarly to digital currencies but cannot be reproduced.

NFTs might take the form of artworks, music, or animated GIFs. Due to the unique nature of each NFT, a non-fungible token cannot be swapped for another. At the time of writing, over 23,700 NFTs have been purchased, and the demand for them continues to grow. NFTs go beyond the simple concept of cryptocurrency.

Modern finance systems are built of sophisticated trading and lending platforms for several asset classes, ranging from real estate to credit default swaps to artwork. By enabling digital representations of physical assets, NFTs enable the reinvention of this infrastructure.


What are the differences between Enjin Coin and NFTs?

Nonfungible tokens (NFTs) are digital assets that each have a unique value, with no two NFTs holding the same characteristics or value as another. Enjin Coin, on the other hand, is fungible, which means that one ENJ has the same value and characteristics as another ENJ.


What are fungible tokens?

Tokens or assets that are fungible are divisible and non-unique. For example, government-issued fiat currencies such as the dollar are fungible.

For example, In New York City, a $1 bill has the same value as a $1 bill in Miami. Additionally, a fungible token might be a cryptocurrency such as Bitcoin: 1 BTC is always worth 1 BTC, regardless of where it is issued.


What is Efinity Token?

Enjin is designing Efinity on Polkadot with the Web3 Foundation. To function independently of the Ethereum economic foundation, data, and state, the Efinity blockchain uses a separate consensus method based on Polkadot Relay Chain validators.

Collector nodes process transactions and disseminate EFI to stakeholders. However, Polkadot's Relay Chain validators manage security. Thus Efinity customers do not pay for validation. The Efinity blockchain will be a Polkadot Parachain. As a result, developers of other parachains may confidently incorporate Efinity NFTs into their ecosystems, knowing that they will work in other parachains as well.

Enjin is also building a paratoken equal to its ERC-1155 Ethereum-based coins. It will be the first paratoken. The Efinity blockchain can execute 700 transactions per second with a six-second confirmation time.

A fungible and non-fungible token hub, Efinity. The ERC-721, ERC-1155, and ERC-20 standards are all supported by the paratoken standard.

Given the rising transaction volume, a network that facilitates the pricing and exchange of NFTs will undoubtedly acquire momentum.