ENJIN will need one blockbuster game : EnjinCoin

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Considering all the current problems in the industry, Enjin decided to create its product on the Ethereum blockchain and named it Enjin Coin (ENJ). Decentralization of virtual assets allows the Enjin platform to enable trading with the custom assets across multiple communities and games, just as long as they are supported on it. This means that the players can trade their items outside the gaming environment in which an asset was created. Custom coins created with the help of Enjin platform should be compatible with external digital asset exchanges which provide support for Ethereum tokens. ENJ cryptocurrency is a digital platform token based on Ethereum network for creating centralized applications in the game field.

Enjin Coin isn’t the only cryptocurrency designed with the online gaming community in mind, so consider the impact that competition from GameCredits (GAME), Skincoin (SKIN) and others. Enjin Coin (ENJ) is a token on the Ethereum blockchain designed to provide a customizable cryptocurrency and virtual goods platform for gaming. These tokens can be used to buy and trade virtual goods and digital assets on the Enjin platform, as well as perform a range of actions. Enjin Coin’s purpose is to provide gamers and content creators a new model of virtual ownership with a decentralized platform to manage, distribute, and trade virtual goods. Online gamers will be able to bring or trade their assets from game to game, community to community, growing their digital wallet with real value as they play.

Enjin coin aims to make gaming less focused on what its creators describe as “draining” the players’ money. Freed from the pressure of publishers, the developers would be able to focus on creativity and the community’s demand. Enjin aims to integrate game development and blockchain and provide the developers with the tools to create custom tokens and contracts on its platform. Enjin, the largest platform for games founded in 2009 in Singapore, began to develop the Enjin Coin cryptocurrency back in 2017.

A list of gaming communities that have registered to use ENJ is available from the Enjin Coin website. Enjin – is a one-of-a-kind service that has a very speсific and narrow focus.

And if gamers want to buy/sell/trade in-game items like these, Enjin loads the information into an ERC-1155 smart contract to initiate the transfer. Once connected to Enjin, the platform’s payment gateway, Smart Wallet, and other features support buying, selling, and trading assets in a variety of currencies. While Enjin Coin is a newer project, Enjin has been around since 2009, and it built its network of gamers with a slew of features.

The Enjin Coin SDK has an integrated decentralized payment gateway. The gateway makes it easy to create custom baskets, invoices, returns, and more. There is also a widget for accepting payments in Enjin Coin and/or Customized Coin, which can be placed on your website. The only commission charged for each transaction with a payment gateway is a small fee on Ethereum. With a smart wallet, you can set up subscriptions/automatic payments for games and websites that are listed as trusted platforms.

The Enjin platform aims to lend itself to the creation of several digital “realities” in which players would be allowed to keep their rewards, characters and assets across various game universes existing on a single platform. Gamers and content providers often do not see eye to eye when it comes to game monetization models. ENJ developers describe the existing game development ecosystem as dominated by the monopolies which continue to impose their old monetization models which reportedly antagonize the users and stifle creative freedom of developers. Enjin platform hopes to get rid of the pay-to-win gaming models and create an ecosystem consisting of virtual worlds in which the users receive rewards based on their skills, creativity and talents. This model is described by the ENJ team as “ethical monetization” of games.

SDKs for multiple languages, wallets, and payment platforms will be available and completely open-source to make this all possible. Since its founding in 2009, Enjin has been deeply involved with the gaming industry. The same year, the company launched a gaming community platform called the Enjin Network and has grown it to more than 20 million users over the course of a decade. The Enjin platform SDK also features support for a full-blown gateway for decentralized payments.

The entire gaming industry is taken into account from developments for personal computers to the browser and mobile games. The logos of Bitcoin, Ethereum, Enjin, and Cosmee were also shown during the presentation. The most common use of Enjin is to create community, clan or guild sites.

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  • Game developers are forced to create content which reflects the short-term interests of publisher’s shareholders instead of what they or the gamers want.
  • The Enjin ecosystem is fueled by Enjin Coin (ENJ), an Ethereum-based cryptocurrency used to directly back the value of next-generation blockchain assets.

Hosted by the Singapore-based company of the same name, the Enjin platform prides itself on serving the community of more than 20 million gamers. The majority of them are grouped into some 250,000 individual communities built around specific games. At the time of writing, there are currently almost 1.5 million gamers ready to adopt and use ENJ.

Through this listing, Crypto.com enables easy purchase of the ENJ Coin with fiat through USD and EUR bank transfers, as well as, credit and debit cards globally on the app, before being used within Enjin’s gaming ecosystem. On the Crypto.com Wallet & Card app, users can also securely sell, send, store, and track their cryptocurrencies. At the same time, ENJ holders may enjoy the option to spend their digital assets in the real world at over 40m merchants through the MCO Visa Card.

This segment allows the Enjin users to manage invoices and refunds, create customized shopping carts and use other features related to payment. If a user has a website which they plan to integrate with the Enjin platform, they are free to use a payment widget which supports transactions made with Enjin Coin and custom currencies, or both of these options. The current model of distributing virtual rewards in games is expensive, prone to frauds and restricted to centralized servers.

enjin communities

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It aims to become a common currency for use by the online gaming community, allowing for virtual goods and digital assets to be securely transferred. The system comes with the Integrated Voice Server that ensures voice communication between the gamers and contributes to the interacting gaming process. The availability of the Enjin API tool make it possible to create even those modules that are not enlisted in the catalogue. These are only a few features that contribute to the efficacy and popularity of the website builder.

The Enjin ecosystem is fueled by Enjin Coin (ENJ), an Ethereum-based cryptocurrency used to directly back the value of next-generation blockchain assets. Game developers are forced to create content which reflects the short-term interests of publisher’s shareholders instead of what they or the gamers want. Franchising of the gaming industry has led to the proliferation of an “endless sequence” of content which is too focused on in-game microtransactions, loot boxes and time-limited offers.

The website builder empowers the development of websites for gamers, guilds, clans, fan communities as well as Minecraft servers. Due to such a unique specialization, the system works great for the needs of gaming enthusiasts and fans across the globe. The platform features high quality of projects created with it as it lets you launch and manage websites that are exclusively geared towards gaming purposes. Digital assets earned within video games can be either fungible (like a health or mana potion) or non-fungible (Arena, PVP, or Raid gear).

Enjin is the largest online gaming platform with over 250,000 gaming communities and 20 million registered gamers. The Enjin Coin is used for the creation and management of virtual goods in the gaming community.

With Enjin Coin (ERC20 token standard), developers can not only create virtual game products but also implement them. Enjin Coin is a token on the Ethereum blockchain designed to be used across a wide range of different websites and online games.

Enjin is to gamers what Shopify is to retailers and WordPress is to bloggers. It’s a massive ecosystem that lets you custom design a gamer forum with support for digital marketplaces, chat, ecommerce, and more. For the article to be on this site there has to be a bit about the blockchain technology involved! The Enjin platform has its own cryptocurrency called Enjin Coin (ENJ).

Custom coins can be utilized as tools for the management and delegation of power across the Enjin-based games and communities. In games, for example, access to virtual chests with powerful and rare items can be protected by putting them behind “keys” in form of privilege tokens. Likewise, at the community level, the same tokens can be bought from website owners in exchange for the right to advertise one’s products on the site’s message boards. The platform offers its own token supply models in case the users do not want to code their own smart contracts.

Enjin Coin developers plan to actively collaborate with game projects, expanding their network and developing tools for their successful integration into the system. At the same time, the platform seeks to increase its attractiveness to users. The relevance of the Enjin Coin platform lies in the growing market for the gaming industry. The annual turnover in this area has already passed the mark of $ 100 billion, in 2020, at such a rate, a turnover of 128.5 billion is forecasted.