Enjin Coin (ENJ) Live Price

Enjin Price Charts: Detailed and Unfiltered [2022]

In recent years, blockchain assets have become vital entities for game developers. Besides offering gaming communities the opportunity for actual ownership, these projects also provide an avenue for users to enjoy the perks of tokenization. Such is the case of Enjin Coin. 

Enjin is the community gaming platform that has been the backbone of creators and users alike.

So, in this article, we will thoroughly assess Enjin, what it means, how it works, and the most significant things to know about the project. Before we go into the fundamentals, let's briefly check the live price statistics of Enjin Coin.

If interested in holding or trading ENJ, you can buy Enjin Coin on cryptocurrency exchanges or the Enjin platform. Exchanges including Binance, OKX, and Bybit. Now that you know some basic information about this crypto project, let's discuss what Enjin Coin is all about. Expectedly, we won't go further without explaining what Enjin tokens are. 

Enjin Coin (ENJ): What Is It?

The Enjin Coin (ENJ) is a result of the blockchain-based project of the Enjin platform. Since Enjin allows the gaming community to use the Ethereum blockchain as a tokenization system it became necessary to have a smart contracts-developed token behind it. 

So, the Enjin Coin is the Ethereum-based (ERC-20) token game developers use to trade their digital assets with other assets. Besides that, ENJ is the coin used to mint Non-Fungible Tokens (NFTs) on the Enjin platform, and game creators and users benefit from it. With ENJ tokens, creators can provide utility for their games, and access liquidity.

The Enjin Coin: A Brief History

Enjin Coin was developed by Enjin, a company focused on building blockchain-based gaming protocols. While the company was founded in 2009, ENJ launched in 2017 following an Initial Coin Offering (ICO). 

With a mission to build the Enjin ecosystem around social gaming, its founders, Maxim Blagov and Witek Radomski, raised about $18.9 million at the ICO. This was done by selling ENJ tokens to investors. Enjin established its live presence in 2018, and today, it’s home to over 200,000 gaming communities.

What Makes ENJ Unique?

Enjin’s uniqueness is found in its real-world usage. Unlike many crypto projects, ENJ provides its active gamers with liquidity. In addition, since ENJ uses smart contracts, its digital items can be converted into ERC-1155 NFTs through minting. At the same time, these minted items can be bought and sold on the Enjin marketplace.

How Does ENJ Work?

ENJ is basically used in trading NFTs via the Enjin platform. However, its function goes just beyond that. ENJ functions as a tradable asset on crypto exchanges like other cryptocurrencies. The coin also helps gamers keep track of their collectibles and store their unique items securely.

However, there is one extraordinary way ENJ works that many cryptocurrencies do not. With its Software Development Kits (SDKs), ENJ eases the development and integration of digital assets into applications and games.

How Is the Enjin Network Secure?

The Enjin network is secured by the Proof-of-Work (PoW) mechanism provided by the Ethereum blockchain. Also, since ENJ is an ERC-20 token, it is protected by nodes, blocks, and smart contracts of the Ethereum chain.