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Why investors buy Enjin: Because it is the bridge between gaming and blockchain.
Enjin Coin (ENJ) is a token launched by Enjin in 2017, and it operates on the Enjin blockchain. Its primary purpose is to power transactions within the Enjin ecosystem.
Enjin has made big strides to integrate blockchain technology with the gaming industry.
Things ENJ can be used for:
Developers use ENJ to mint NFTs. When they create an NFT, it is backed by a certain amount of ENJ, giving it intrinsic value.
ENJ facilitates trading and collecting rare NFTs within the Enjin marketplace.
Enjin Coin is used to pay for gas fees when minting NFTs, for example.
Developers can create custom coins without any coding requirements using ENJ.
Enjin was originally built on the Ethereum network. Since then Enjin has created its own blockchain. By the end of 2023, Enjin had moved 200 million NFTs across from the Ethereum Network.
Using an NFT-centric fork of the Polkadot Network, Enjin Blockchain aims to increase the speed of the network and offer competitive transaction fees of just $0.005. “This, combined with a throughput of 5,000 transactions per second and the capability to mint up to 2,000 NFTs in a single transaction, sets a new standard in NFT usability,” they said.
Enjin Coin backs the value of blockchain assets, particularly non-fungible tokens (NFTs). These NFTs represent unique digital items, such as in-game skins, collectibles, and virtual goods.
ENJ not only acts as a cryptocurrency but also has smart contract capabilities. This means that developers can create programmable assets with specific rules and behaviours using ENJ.
Enjin’s approach differs from some other solutions. Unlike traditional smart contract-based systems, Enjin Blockchain doesn’t rely solely on smart contracts for critical functions related to creating, using, and transferring non-fungible tokens (NFTs).
Instead, Enjin integrates these essential features directly into its foundational code.
Enjin has successfully integrated its technology into popular games, including Minecraft. Players can earn ENJ through in-game achievements and use it to purchase virtual items within the Enjin Marketplace.
Every asset minted with the Enjin Platform contains ENJ. This means that items in games or virtual worlds can be exchanged with real-world value. You can own a rare sword in a game that you can also trade for ENJ or convert into other cryptocurrencies.
Enjin has a strong community of gamers, developers, and blockchain enthusiasts. Its adoption continues to grow, making it an exciting project to watch.
##Conclusion: Why investors buy Enjin in the UK
Enjin Coin represents a fascinating intersection of gaming, blockchain, and creativity. As the gaming industry continues to evolve, keep an eye on ENJ.
If you’re in the UK and want to buy Enjin (ENJ) using Pound Sterling (GBP), you can do so through CoinJar, which has been in operation since 2013. Here are the user-friendly steps to get started.
Sign Up to CoinJar: Download the CoinJar app. Create an account and verify your ID within the app.
UK residents are required to take an assessment and then wait 24 hours (see below).
Deposit Funds: Transfer funds from your bank account to CoinJar using bank transfer, PayID, or Osko.
Buy Enjin: Once your funds are deposited, you can buy Enjin by following these options: Cash or Credit Card: Purchase Enjin instantly using Visa or Mastercard.
Crypto-to-Crypto: Convert other cryptocurrencies to Enjin with a single click.
Enjin Coin (ENJ) was originally made as an ERC-20 token built on the Ethereum network. Now it operates on the Enjin blockchain. It serves as the native cryptocurrency of the gaming company Enjin, which integrates blockchain technology with the gaming industry.
ENJ backs the value of non-fungible tokens (NFTs) and enables unique digital assets within games.
A token migration is the process of moving a digital item or token from one blockchain to another. Enjin migrated ENJ to its own blockchain for better features, including efficient transactions, competitive fees, and advanced NFT capabilities.
The Ethereum burn address (0x000000000000000000000000000000000000dEaD) is effectively inaccessible. During migration, ERC-20 ENJ tokens are sent there to ensure they are permanently removed from the Ethereum blockchain.
Enjin Matrixchain integration was delayed to ensure key features are available immediately. These include staking, expanded NFT features, and using ENJ for added capabilities.
The new Enjin Blockchain starts with 1.75 billion ENJ tokens, including migration, Efinity Token (EFI) swaps, and incentives.
You can buy ENJ on various exchanges, including CoinJar (for UK users). Follow the steps mentioned earlier to get started.
Enjin’s targeted advertising campaigns effectively reach its gaming community platform, promoting adoption and awareness.
Enjin provides SDKs for developers to integrate ENJ and NFT functionality into their games and applications.
ENJ serves as the native currency for Enjin’s ecosystem, powering NFTs and virtual assets.
Quality and Adoption: Enjin offers a high-quality product with adoption in the gaming industry. It empowers gamers by allowing true ownership of virtual assets.
Community and Partnerships: Enjin has an existing community of users and strategic partnerships with leading brands.
NFT Market Exposure: Enjin is inherently exposed to the rapidly growing non-fungible token (NFT) market, which has seen significant growth in recent years.
Enjin was founded in 2009 by Maxim Blagov and Witek Radomski. Initially, it operated as a social gaming platform, but in 2017, it shifted its focus towards blockchain and cryptocurrency. The goal was to empower gamers by giving them true ownership of their virtual assets.
Enjin Coin (ENJ) was originally an Ethereum-based cryptocurrency. It now runs on the Enjin blockchain. It directly backs the value of blockchain assets created on the Enjin online gaming creation platform. This allows for virtual ownership of goods and trading between gamers and community members.
The all-time high price for Enjin Coin (ENJ) varies depending on the currency: The highest price was $4.82 in November 2021.
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