What is Enjin (ENJ)?
In recent years, the popularity of non-fungible tokens (NFTs
) increased, both for developers and the public. Not only are these NFTs now wildly popular in the gaming industry, but brands such as Dolce & Gabbana and Nike are also using their own NFT collections.
Enjin is a blockchain platform built on Ethereum that allows anyone to create, manage and trade their own NFTs since 2017. NFTs for your art, music, or sports project? Anything is possible. Enjin's slogan is loud and clear: “NFTs for everyone", for individuals, companies, and developers.
How does Enjin work?
Create your own NFT without coding yourself. The visual interface allows users to easily create their own NFTs. Create your project, link your wallet to the platform, and start minting your own collectibles.
In 2020, the popularity of NFTs grew because of various play-to-earn blockchain games. For the first time ever, players could own and trade their in-game assets themselves. This also provided an additional source of revenue. Several years later, we can use NFTs in any blockchain project. From digital art to digital wearables, anything unique that exists on the blockchain can be bought and traded as NFT.
When you say NFTs, you also immediately think of the metaverse. The digital world of the metaverse consists almost exclusively of NFTs. Unique digital assets that anyone can buy and trade. Thanks to its open-source nature, any individual can create and launch his or her NFT collection in the metaverse.
Enjin offers products to integrate your own NFT collection with various blockchain games and other decentralized applications (dApps). From digital art to music on the blockchain, the possibilities are endless in the world of the metaverse.
In 2018, Enjin announced the Efinity network to address Ethereum's scalability issues. Also called the "Lightning Network Made for Gaming." The network aims to perform "infinite" transactions. This without high costs and long wait times. Efinity is built on Polkadot and will serve as the infrastructure for the decentralized cross-chain metaverse.
Jumpnet, another Enjin product, is the bridge between virtual worlds where users can easily mine and exchange NFTs. The goal of jumpnet? To be a multi-chain NFT highway.
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The world of NFTs is evolving very quickly. New NFT collections, new projects, or new opportunities. There are also more and more NFT applications in the physical world. Want to stay up to date and not miss anything about the latest developments? Coinmerce shares the most important crypto news
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