search icon
      blog search icon

      Enjin (ENJ) Coin – A Gaming Platform that has Pumped Hard - Stocks Telegraph

      By Ammar Mukhtar

      Published on

      November 20, 2021

      4:28 AM UTC

      Enjin (ENJ) Coin – A Gaming Platform that has Pumped Hard - Stocks Telegraph

      The advent of blockchain technology has opened new avenues for people to connect with others.  One way that this is being done is through the online gaming scene. This, coupled with the increased interest of major corporations in the metaverse, the crypto-gaming platform has taken the world by storm. Enjin (ENJ) is one such project.

      Enjin that is powering the ENJ coin is also one of those companies that are trying to take hold of the gaming space opened through crypto-networks and Non-Fungible Tokens (NFT). Built on the Ethereum blockchain, the game enables its players to earn money through playing the game. With this, the hours that were “materially wasted” can on recreational activities be turned into profit.

      Using Enjin (ENJ), NFTs can be made and then sold.  This is done through Enjin providing a social gaming platform. Through this platform, the NFTs earned within the game can be stored in the vaults. Developers have the option to create in-game accessories and products through the platform. These products can be bought, sold, traded, or used within the virtual world.  The developers are given software development kits (SDKs) have been given to developers so that each can add their own unique flavor and identity to the software.

      Enjin (ENJ) has a weird relation with the whole market. Most altcoins follow the trajectory of Bitcoin. But Enjin seems to show an opposite direction. It might be because ENJ is a gaming token.  Other factors may include the rebranding of Facebook incorporated as Meta and the high earning of all the investors with all their bullish performance of the coin with 97% of the investors making money.

      Current Price Movement – Enjin (ENJ)

      At the time when this article is being written, the value of the Enjin (ENJ) coin is $3.50 (a 21% increase over the past twenty-four hours) with a trading volume $1,385,742,744 with an increase of 92.44% over the past twenty-four hours. In just the last month, the coin has gone from its value of $1.68 to its current value which is also at its all-time high. The total and maximum supply of the coin is 1 million ENJ tokens out of which 853,108,659.57 ENJ are in circulation.

      Enjin (ENJ) has recently formed a $100 million Efinity Metaverse Fund to formalize support for their ecosystem partners and help make the decentralized Metaverse a reality. Unlike the metaverse of Facebook (which Enjin claims want to become an internet despot), the Enjin metaverse is planning to be decentralized.

      More From Stocks telegraph