Enjin Coin

Enjin Coin (ENJ) is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Enjin's flagship offering is the Enjin Network, a social gaming platform that allows users to create websites, clans, chat, and host virtual item stores. Enjin allows game developers to tokenize in-game items on the Ethereum blockchain using Enjin Coin, an ERC-20 token. This means that these digital assets can be bought, sold, and traded with real-world value. Enjin Coin was first announced in July 2017 and launched on the Ethereum mainnet in June 2018. Enjin Coin serves as a digital store of value that backs the value of blockchain assets like non-fungible tokens (NFTs). When a new asset is minted using the Enjin Platform, a certain amount of ENJ is locked inside the NFT, which provides it with a reserve value, ensures its transparency and scarcity, and gives it instant liquidity. Users can also "melt" their blockchain assets at any time to retrieve the ENJ value from within. The Enjin ecosystem aims to offer software products that make it easy for everyone to develop, trade, monetize, and market with blockchain. The company was founded in 2009 and has roots in the gaming industry, with the Enjin Network growing to 20 million users over the course of a decade. In 2017, following an ICO, Enjin established itself as a leading blockchain ecosystem developer, building a suite of software products that enable anyone to easily mint, manage, trade, distribute, and integrate blockchain assets. Enjin's co-founder Witek Radomski is also the co-author of the ERC-1155 Ethereum token standard, which is used for minting both fungible and non-fungible tokens. The Enjin ecosystem is fueled by Enjin Coin (ENJ), which is used to back the value of the blockchain assets created on the platform. As more custom tokens are minted, more ENJ is removed from the ecosystem, making it scarcer over time. Enjin Coin has a fixed maximum supply of 1 billion tokens, but the number of coins actually circulating will decrease as the ecosystem grows and more ENJ is locked into in-game digital assets.