If you haven’t been paying attention over the last month, NFT coins, also known as non-fungible tokens, have quickly become a focal point for investors due to user demand for digital goods. Blockchain is becoming more closely associated with the development of a secure marketplace. This is for the exchange of digital assets such as collectibles or digital art pieces. The Enjin coin has reached a new all-time high of $0.68. A gain of more than 52 percent, according to CoinMarketCap.
NFT tokens first gained traction in 2018 when Dapper released CryptoKitties. CryptoKitties a popular blockchain game that clogged the entire Ethereum Network for the first time that year. Enjin appears to be at the forefront of the continued emergence of virtual goods and one-of-a-kind collectibles in the blockchain space. Enjin has announced that over 2.15 billion assets have been created on their network in the last month. This is including assets for the popular game Minecraft as a plug-in.
Overview of Enjin
Enjin, which was founded in Singapore in 2009, owns a variety of assets, including Enjin Network, Efinity, and, most recently, Enjin Coin, which was released to create one-of-a-kind tokens that store unique value. In addition, the ENJ token is an ERC20 token that is built on the Ethereum blockchain and is used across a variety of online games and websites.
Enjin is one of the few Blockchain companies that managed to circumvent Japan’s strict regulatory system and become the country’s first Gaming cryptocurrency. With the token’s upcoming listing on the Japanese Coincheck transfer on January 26th as the only gaming cryptocurrency listed on the exchange. As a result, users will be able to purchase the token in Japanese Yen and help boost acceptance in a nation. A nation that is indeed well immersed in pop culture while playing games.
Enjin (ENJ) in the Metaverse
Since the start of 2021, the company has been very active. They incorporated the Enjin means of exchange into Minecraft. This lead to the creation of unique Amazon (NASDAQ:AMZN) Azure heroes fueled by the Enjin blockchain. Amazon AzureIt’s easy to see why NTF completion with games like Minecraft, where users can earn ENJ coins is appealing as you scroll through their Twitter page.
The token integrated into the Binance Smart Change. It is now available on the DeFi Swap, and is part of the Binance NFT education campaign. They debuted an AMA with Binance to help educate users regarding NFT coins. Moreover, on how to use them and to provide clarity to anyone looking to learn about token protection.
CryptoKitties was the first blockchain game to highlight Ethereum network bottlenecks in 2018. Blockchains have worked to reduce latency and speed up transactions. What else happened was that developers and entrepreneurs discovered a new way to use blockchain. Therefore, would e a great help with the growing digitalization.
Gamification and the need to transact on unique virtual assets are becoming more appealing to everyday users. Dapper Labs, the same company that created CryptoKitties, collaborated with the NBA. With the aim to create collectible cards in the form of short video clips using NFT tokens.
It demonstrates that digitally secured goods are becoming a necessity, and blockchain solutions like Enjin can benefit from the rising demand. If you’re still not convinced, a one-of-a-kind piece belonging to LeBron James recently sold for $208,000.
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