What Is Enjin Coin?
Enjin Coin 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 through which users can create websites and clans, chat, and host virtual item stores.
Enjin allows game developers to tokenize in-game items on the Ethereum blockchain. It uses Enjin Coin, an ERC-20 token, to back the digital assets issued using its platform, meaning that items can be bought, sold, and traded with real-world value.
Enjin Coin was first announced in July 2017, and it launched on the Ethereum mainnet in June 2018.
Is Enjin Becoming Popular Among Video Game Consumers?
Enjin is a new and emerging online trading system that allows its users to trade digital currencies such as the US Dollar, Australian dollar, and the British pound. The Australian dollar is currently one of the most popular currencies used for online trading across the world, but it was unclear whether or not Enjin could achieve the same success. In fact, the announcement from VCCI left many in doubt regarding the future of Enjin, with many doubting whether the currency would achieve anywhere near the heights of Forex MegaDroid or TradeStation. The news did little to reassure traders, however, with doubts growing only deeper that this new trading platform would live up to its billing.
The bad news is that Enjin won’t be offering any special consumer benefits, such as loyalty points, which are given when a trader spends money with them. Instead, it will be employing a unique “points” system that allows players to convert their virtual money into real currency. This system is referred to as NFT, or Neteller Points. However, the system is not without controversy. Some experts have speculated that while NFT is convenient, it does little to actually boost earnings for traders, as most of the money spent on NFT is spent on trying to obtain rarer and expensive game items rather than spent on actual goods.
If you’re considering signing up for Enjin, the one thing you should remember is that its popularity may well be short-lived, with many traders speculating that the game will soon fade away like the fads of the dotcom era. Many of the factors driving its meteoric rise, including its use of a points system and its ability to offer free NFT, may no longer be available in the future. The major currencies used in Enjin trades include the US dollar, the Euro, the Japanese yen, and the British pound. As trading of these currencies continues to grow on a daily basis, the value of each of these currencies could fluctuate significantly, making the exchange of Enjin points (also known as nft) quite complicated. So while Enjin may be popular among the global gaming community, it’s fair to say that its grip on the market for the foreseeable future looks tenuous at best.
