Market Cap: $2.6653T -3.100%
Volume(24h): $71.0636B -3.580%
Fear & Greed Index:

22 - Extreme Fear

  • Market Cap: $2.6653T -3.100%
  • Volume(24h): $71.0636B -3.580%
  • Fear & Greed Index:
  • Market Cap: $2.6653T -3.100%
Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos
Top Cryptospedia

Select Language

Select Language

Select Currency

Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos

When was ENJ coin issued? Learn about the origin of ENJ coin in one article

Launched in 2017 by the experienced Bronstein, Kertonegoro, and Radomski, Enjin's ENJ cryptocurrency serves as a medium of exchange and utility token within its gaming-focused blockchain ecosystem.

Oct 02, 2024 at 07:05 pm

ENJ: The Origin of a Virtual World Cryptocurrency

1. What is ENJ?

Enjin is a blockchain-based ecosystem for virtual goods and gaming. It provides a platform for creators and developers to create, manage, and monetize their digital assets in the form of Enjin Coins (ENJ).

2. When was ENJ Coin Issued?

ENJ coin was launched through an initial coin offering (ICO) in July 2017.

3. Founding Team

ENJ was founded by Max Bronstein, Simon Kertonegoro, and Witek Radomski. The team had extensive experience in gaming and blockchain technology.

4. Purpose of ENJ

The primary purpose of ENJ is to serve as a medium of exchange and utility token within the Enjin ecosystem. It allows creators to create and sell virtual items, and gamers to use those items in their games.

5. Features and Benefits

  • Security: The Enjin ecosystem is secured through the Enjin Network, a Proof-of-Work blockchain.
  • Flexibility: ENJ is a multi-purpose token that can be used to purchase, create, and trade virtual assets.
  • Interoperability: ENJ is compatible with various game engines and marketplaces, allowing for seamless integration.
  • Support: Enjin provides support to creators and developers through its development tools, community forums, and technical documentation.

6. ENJ Market Performance

Since its launch in 2017, ENJ has experienced significant growth and volatility. It reached its all-time high in November 2021, shortly before the broader cryptocurrency market decline.

7. Use Cases

  • Game development: Creators can use ENJ to finance the development of their games and reward players for their participation.
  • Virtual item marketplaces: ENJ can be used to purchase and sell virtual items, such as weapons, armor, and accessories.
  • Digital collectibles: Enjin allows creators to mint and manage digital collectibles, which can be traded or collected by gamers.
  • Play-to-Earn: ENJ can be earned through gameplay in certain games, incentivizing players to participate and contribute to the ecosystem.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Related knowledge

In what aspects is the collection value of NFT reflected?

In what aspects is the collection value of NFT reflected?

Mar 16,2025 at 03:01am

Key Points:Rarity and Scarcity: NFT value is intrinsically tied to its limited supply. Unique attributes or extremely low mintage numbers significantly boost value.Artistic Merit and Utility: The aesthetic appeal and practical functionality of an NFT directly impact its desirability and, consequently, its collectible value.Community and Brand Recognitio...

What is the trading process of NFT?

What is the trading process of NFT?

Mar 16,2025 at 11:15am

Key Points:NFTs are traded on various marketplaces, each with its own process.The process generally involves listing, bidding, buying, and transferring ownership.Secure storage of NFTs via wallets is crucial throughout the process.Understanding gas fees and blockchain transaction times is essential.Different marketplaces offer different functionalities ...

How is NFT stored on the blockchain?

How is NFT stored on the blockchain?

Mar 17,2025 at 08:35am

Key Points:NFTs are not stored directly on the blockchain in their entirety. Instead, only metadata pointing to the NFT's location is stored.This metadata includes a link to the actual file (image, video, etc.) stored off-chain, usually on a decentralized storage network or a centralized server.The blockchain acts as a verifiable ledger of ownership and...

How is NFT different from cryptocurrency?

How is NFT different from cryptocurrency?

Mar 18,2025 at 02:36am

Key Points:NFTs represent unique, non-fungible assets, unlike cryptocurrencies which are fungible.NFTs are stored on a blockchain, but their value and use cases differ significantly from cryptocurrencies.Cryptocurrencies are primarily used as a medium of exchange or store of value, while NFTs represent ownership of digital or physical assets.The underly...

Does the transaction of NFT depend on a specific cryptocurrency?

Does the transaction of NFT depend on a specific cryptocurrency?

Mar 15,2025 at 09:35pm

Key Points:NFTs, while often associated with Ethereum, aren't tied to a single cryptocurrency.Various blockchains support NFT transactions, each with its own cryptocurrency.The choice of cryptocurrency depends on the blockchain hosting the NFT.Transaction fees (gas fees) vary significantly across different blockchains.Understanding the blockchain and it...

Does the issuance of NFT require mining?

Does the issuance of NFT require mining?

Mar 16,2025 at 12:01pm

Key Points:NFTs are not mined in the same way cryptocurrencies like Bitcoin or Ethereum are.NFT creation involves minting on a blockchain, typically using existing cryptocurrencies for transaction fees.The energy consumption associated with NFT creation depends heavily on the blockchain used.Proof-of-work blockchains, like some used for NFT minting, con...

In what aspects is the collection value of NFT reflected?

In what aspects is the collection value of NFT reflected?

Mar 16,2025 at 03:01am

Key Points:Rarity and Scarcity: NFT value is intrinsically tied to its limited supply. Unique attributes or extremely low mintage numbers significantly boost value.Artistic Merit and Utility: The aesthetic appeal and practical functionality of an NFT directly impact its desirability and, consequently, its collectible value.Community and Brand Recognitio...

What is the trading process of NFT?

What is the trading process of NFT?

Mar 16,2025 at 11:15am

Key Points:NFTs are traded on various marketplaces, each with its own process.The process generally involves listing, bidding, buying, and transferring ownership.Secure storage of NFTs via wallets is crucial throughout the process.Understanding gas fees and blockchain transaction times is essential.Different marketplaces offer different functionalities ...

How is NFT stored on the blockchain?

How is NFT stored on the blockchain?

Mar 17,2025 at 08:35am

Key Points:NFTs are not stored directly on the blockchain in their entirety. Instead, only metadata pointing to the NFT's location is stored.This metadata includes a link to the actual file (image, video, etc.) stored off-chain, usually on a decentralized storage network or a centralized server.The blockchain acts as a verifiable ledger of ownership and...

How is NFT different from cryptocurrency?

How is NFT different from cryptocurrency?

Mar 18,2025 at 02:36am

Key Points:NFTs represent unique, non-fungible assets, unlike cryptocurrencies which are fungible.NFTs are stored on a blockchain, but their value and use cases differ significantly from cryptocurrencies.Cryptocurrencies are primarily used as a medium of exchange or store of value, while NFTs represent ownership of digital or physical assets.The underly...

Does the transaction of NFT depend on a specific cryptocurrency?

Does the transaction of NFT depend on a specific cryptocurrency?

Mar 15,2025 at 09:35pm

Key Points:NFTs, while often associated with Ethereum, aren't tied to a single cryptocurrency.Various blockchains support NFT transactions, each with its own cryptocurrency.The choice of cryptocurrency depends on the blockchain hosting the NFT.Transaction fees (gas fees) vary significantly across different blockchains.Understanding the blockchain and it...

Does the issuance of NFT require mining?

Does the issuance of NFT require mining?

Mar 16,2025 at 12:01pm

Key Points:NFTs are not mined in the same way cryptocurrencies like Bitcoin or Ethereum are.NFT creation involves minting on a blockchain, typically using existing cryptocurrencies for transaction fees.The energy consumption associated with NFT creation depends heavily on the blockchain used.Proof-of-work blockchains, like some used for NFT minting, con...

See all articles

User not found or password invalid

Your input is correct