ENJ

Enjin Coin (ENJ) is a cryptocurrency and the backbone of the Enjin ecosystem. This ecosystem is primarily focused on providing tools and infrastructure for game developers to create and manage in-game virtual items as NFTs (Non-Fungible Tokens) on the blockchain.

Key Points About Enjin Coin:
Backing for NFTs: ENJ is used to back the value of NFTs minted within the Enjin ecosystem. This means that the total value of NFTs created is always less than or equal to the total value of ENJ in circulation.
Utility Token: Beyond backing NFTs, ENJ has other utilities within the Enjin ecosystem, such as governance rights for token holders and potential use in fees for platform services.
Gaming Focus: The primary target market for Enjin is the gaming industry, where it aims to revolutionize the way virtual items are handled and traded.
Enjin Platform: The Enjin platform provides a suite of tools for game developers, including a wallet, marketplace, and API for easy integration of blockchain features into games.
How Does Enjin Coin Work?
NFT Creation: Game developers can use the Enjin platform to create in-game items as NFTs. These NFTs are backed by ENJ tokens.
NFT Trading: Players can buy, sell, and trade these NFTs on the Enjin marketplace or other compatible platforms.
Value Retention: The ENJ backing ensures that the value of the NFTs is preserved, even if the game itself is discontinued.
Ecosystem Growth: As the Enjin ecosystem expands, the demand for ENJ is expected to increase, potentially leading to price appreciation.
Want to Learn More?
If you’re interested in diving deeper into Enjin Coin and the Enjin ecosystem, here are some resources:

Enjin Official Website: https://enjin.io/
CoinMarketCap: https://coinmarketcap.com/currencies/enjin-coin/
CoinGecko: https://www.coingecko.com/en/coins/enjin-coin