Enjin Coin has now been authorized by the Japan Virtual Currency Exchange Association (JVCEA), the Japanese cryptocurrency transfer governing agency, and it will be listed on Coincheck on January 26, 2021. This is big news at the moment in blockchain gaming.
ENJ is one of only 15 cryptocurrencies listed on Coincheck and is Japan’s first gaming token. This process appears to have taken nearly 1.5 years due to the level of scrutiny the project must undergo in order to be included.
Kojiro Hirate is Enjin’s Business Development Lead in Japan. Hirate stated that Enjin Coin is the first gaming cryptocurrency approved by JVCEA for use in Japan under the Fund Settlement Law.
As said by Enjin CEO Maxim Blagov, Japan is home to pioneering games such as Super Mario, Pokémon, and Final Fantasy. This games have left an indelible mark on pop culture. Enjin’s culture inextricably links to Japan’s innovative culture.
In a massive video game industry dominated by traditional game creators, it has been difficult for blockchain gaming companies to gain traction. However, this is only the first step in a country that has produced some of the greatest games of all time.
By trading volume, Coincheck is one of Japan’s largest cryptocurrency exchanges with a license. Coincheck, Inc. operates it and is registered with the Financial Services Agency (FSA). Users can buy ENJ with JPY and trade it for BTC via Coincheck starting January 26 at 12:00 pm.
Coincheck and Enjin Collaboration
Coincheck and Enjin announced a partnership to deliver non-fungible tokens (NFTs) to Minecraft in September 2020. This listing follows that announcement. Enjin’s Minecraft plugin, EnjinCraft, will get NFT compatibility later this month. The chosen NFTs will be available for purchase on Coincheck’s future marketplace.
In 2019, Enjin entered the Japanese market and partnered with the Tokyo-based HashPort accelerator. It aims to bring Enjin’s blockchain platform and technology to the country’s over 1.5 trillion yen (JPY) gaming market.
Simultaneously, Enjin and HashPort began the process of having approval for ENJ by the JVCEA for listing on Japanese exchanges.
According to HashPort CEO Seihaku Yoshida, the clearance and listing of Enjin Coin on Coincheck is a key milestone for Enjin and the adoption of its blockchain platform in Japan. Enjin made a bold commitment in 2019 to enter the Japanese market. It promises to expand regardless of market conditions.
Enjin has since worked with Japanese artists, entrepreneurs, and celebrities, including the ballet vocal group POiNT. Recently, the company collaborated with prominent blockchain entrepreneur Mai Fujimoto, also known as “Miss Bitcoin,” to launch Japan’s first charity non-fungible token (NFT) project. By selling tokenized celebrity art issued through the Enjin Platform, the initiative hopes to raise over 2,000,000 yen for the nonprofit DxP.
The Enjin Platform Creates one-of-a-kind NFTs
Every asset created with the Enjin Platform includes Enjin Coin, giving it tangible, real-world value. Companies like Microsoft, Binance, CoinMarketCap, and CoinGecko have already created over 2.1 billion Enjin-powered blockchain assets. Enjin’s unique melt characteristic also enables users to decimate their blockchain assets anywhere at any time. This is in order to recover the ENJ value contained within them.
Over 40 game developers and enterprises, including Microsoft, Minecraft servers, and PlayStation, PC, iOS, and Android games, use the Enjin Platform to issue NFTs.
Companies like BMW and Samsung are also utilizing Enjin’s technology. More ENJ will be in locks in blockchain assets as the number of Enjin-adopting projects and companies grows. Results in removing it from the market and increasing its scarcity.
We’ve been saying it for years: Enjin Coin is one of the most important projects in cryptocurrency. However, few people are aware of its potential. As game developers begin to lock up coins, tokens, and NFTs on Enjin, they will become even scarcer!
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