NFTs are now very popular in the crypto world and have received a lot of attention in the tech community. Are you an NFT enthusiast looking to utilize NFTs? Wouldn’t it be great to have a marketplace to list them on and a wallet to help you trade and manage them? This is where Enjin comes in.
In the past, you wouldn’t be able to do this all with a single product line—but now you can. Enjin offers the end-to-end solution required to launch NFT projects that help you create new sources of revenue and speed up your economic growth.
What exactly is Enjin?
Enjin is a platform that is fully decentralized to enable developers to create and manage digital products on the Ethereum blockchain.
When blockchain technology is harnessed to manage in-game products across multiple properties, Enjin can help minimize fees and theft that have plagued the exchange of virtual in-game products and collectibles.
The Enjin Coin platform is designed for the gaming industry. Using software development kits (SDKs) that Enjin recently released, users can produce digital assets on Ethereum and introduce them into apps and games.
Customizable assets can be minted to fit the preferred system and registered in a smart contract, offering the products speed, low cost, and security, which are perks of cryptocurrency.
With Enjin, gamers who use the software can transfer or exchange their gaming assets from one game to another. The same applies to communities. This increases the value of their digital wallet as they play.
Basically, this is how Enjin works. Developers must complete the following five steps to create and eliminate in-game items:
- When ENJ is purchased by developers, this is known as an
- ENJ Gaming: Players acquire tokens and use them in-game for various functions.
- Minting: Developers design in-game items using the purchased tokens.
- Trading: Players exchange tokens with one another.
- Melting: Players sell tokens in exchange for ENJ.
The Enjin Coin
Enjin Coin (ENJ) is Enjin’s native cryptocurrency. It can be obtained by completing in-game achievements and used to purchase virtual goods on multiple gaming platforms. Enjin Coin is a new cryptocurrency (ERC-20 Token) and smart contract platform that gives developers, content providers, and communities of gaming the essential crypto-backed value and tools for integrating virtual products.
According to its whitepaper, Enjin Coin employs both on-chain and off-chain processes. When a transaction in the Enjin ecosystem is completed, a trusted platform alerts the users’ smart wallets, and the web application or game is immediately updated with a temporary replacement or non-tradable copy of the digital item until the transaction is confirmed by the Ethereum blockchain.
ENJ can be purchased and sold in exchange for fiat currency or other cryptocurrencies. Enjin Coin (ENJ) is a virtual store of value that is used to support the value of non-fungible tokens on the blockchain (NFTs). Every Enjin Platform-minted asset contains ENJ, a mining resource that is secured inside NFTs and taken out of circulation.
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Table of Contents
Enjin Overview and History
In 2009, Enjin Network introduced its new idea, Enjin, which is now a gaming community platform with over 20 million users. Enjin began developing a number of blockchain products in 2017, following a successful $18.9 million ICO.
Enjin’s tools allow game developers to use tokenized digital assets for important aspects of their work. Some of these tools include the Enjin Platform itself, Enjin Marketplace, Beam, wallets, etc.
Enjin Coin was announced in July 2017 and debuted on the Ethereum mainnet the next year, in June 2018.
Enjin was founded in 2009 as a gaming community platform by Maxim Blagov and Witek Radomski, with Blagov becoming CEO and Radomski serving as chief technical officer. They have both combined their expertise in working in different roles to achieve their aim.
Radomski proposed introducing blockchain to Enjin after becoming familiar with Bitcoin (BTC) in 2012, finally persuading the organization to recognize it as a means of payment. He decided to build his own blockchain-integrated software after studying Ethereum and smart contracts. Radomski is also the creator of the ERC-1155 token standard, which was created in June 2018, completed in June 2019. Since then, it has been used to mint both fungible and nonfungible tokens.
Enjin (ENJ) Overview
Enjin Current Coin Price $0.47
Price Change (24hrs) $0.01471 (up by 3.48%)
24hrs Low / 24hrs High $0.4194 $/0.4889
Trading Volume (24hrs) $91,167,614.88 (down by 26.00%)
Volume / Market Cap 0.233
Market Dominance 0.04%
Market Rank #79
Market Cap $391,286,083.66 (up by 4.17%)
Fully Diluted Market Cap $436,995,871.20 (up by 3.95%)
All Time High (Nov 25, 2021) $4.85 (down by 90.98%)
All Time Low (Nov 02, 2017) $0.01562 (up by 2697.74%)
Enjin Coin ROI up by 1698.25%
Enjin Circulating Supply 895,399,956 ENJ
Total Supply 1,000,000,000 ENJ
Max Supply 1,000,000,000 ENJ
Enjin (ENJ) Price Forecast
Since reaching an all-time high of $4.6858 on November 25, 2021, the token has recently struggled, falling 90.98 percent to $0.4375 at the time of writing (16 June).
Can ENJ regain its November 2021 value, and what does the future hold for the Enjin token price prediction?
As at the time of writing, the Enjin price is $0.44, up 1.35 percent in the last 24 hours. The recent price movement in Enjin has resulted in a market capitalization of $438,091,091.79 USD. Enjin has a -83.14 percent change so far this year. Enjin Coin is ranked 79 in terms of market capitalization, with a market cap of $393,285,433.88 and a 24-hour volume of $89,522,067.58. Enjin Coin is currently in circulation, with a total supply of 1B and a maximum supply of 1Billion.
The maximum supply of Enjin is one billion coins, but as the ecosystem grows and many more tokens are held in in-game digital assets, the amount of ENJ circulating will reduce.
Based on recent price movements, Enjin coin is a relatively low-risk investment. However, the greatest concern will be the successful performance of NFTs over time. As the token becomes available on more exchanges, more people will be able to join the Enjin ecosystem. As a result, the value of Enjin will rise over time, making it a more valuable token.
Following the token’s November 2017 launch, the price of the token has been inconsistent for about four years, momentarily peaking at the beginning of January 2018 and March 2019. The token didn’t really take off until the beginning of 2021. 2021 saw the Enjin token increase by over 1700 percent, rising from $0.136 to $2.583 by the end of the year amid the hype surrounding NFTs.
2022 has been bearish for Enjin. The Enjin token’s value fell by 41.2 percent between January 1, 2022 ($2.6887) and April 14, 2022 ($1.58) due to negative market sentiment as tension in the Russia-Ukraine conflict began. However, recent Enjin coin news has been encouraging. In a tweet posted on April 11, 2022. EnJin has published its development roadmap for the coming months. It outlines a number of objectives, including new Efinity.io upgrades, the Alpha release of its Efinity Platform, and the launch of security testing for its new innovation, the Enjin Wallet 2.0.
Enjin (ENJ) Price Prediction
Enjin Price Prediction for 2022
According to forecasts made by cryptocurrency price predictor, digital coin prices, Enjin prices are expected to hit and cross the $0.5 mark by the end of the year. It could reach a maximum price of $0.65.
Enjin Price Prediction for 2023
Enjin (ENJ) is predicted to trade at an average value of $0.62; it could hit a maximum price of $0.69.
Enjin Price Prediction for 2025
Based on its analysis of past price performance, analysts predict that ENJ will have crossed the $1 mark and will be priced at $2.9 in 2025.
Enjin Price Prediction for 2030
A long-term projection of Enjin prices pegs it at $7.20 by 2030, surpassing its previous all-time high and attaining a new one. The expectations are decent and a favorable market condition could see the Enjin token become profitable for investors.
However, as always, we caution that price predictions are prone to uncertainty. Forecasts should not be used in place of your own research. Always do your own research and never invest or start trading with money that you cannot afford to lose.
Frequently Asked Questions
What is the current price of Enjin (ENJ)?
As at the time of writing, the current price of Enjin is $0.47.
What will Enjin be worth by the end of 2022?
By the end of 2022, Enjin is expected to be trading at an average value of $0.65.
What will Enjin be worth by 2023?
By 2023, a slower pace of increase is predicted for the Enjin Coin. It is forecasted that by 2023, Enjin will be valued at $0.62.
Where can I buy the Enjin token?
Enjin Coin can be purchased on a variety of cryptocurrency exchanges, including Binance, Uniswap (V2), Bithumb, Balancer, and Kucoin. It can be exchanged for fiat currencies like the US dollar and the euro, cryptocurrencies like Bitcoin and Ether, and stablecoins like Tether (USDT) and USD Coin (USDC).