What Is Enjin Coin

Enjin Coin (ENJ) is a cryptocurrency designed to facilitate the creation, management, and trading of blockchain-based assets, primarily in the gaming and NFT sectors. Enjin Coin emerged in 2017 as part of the Enjin platform, founded by Maxim Blagov and Witek Radomski. The team aimed to revolutionize gaming by integrating blockchain technology. At its core, ENJ powers an ecosystem where users can mint NFTs backed by real value from ENJ tokens. This creates true ownership of in-game items. The broader ecosystem includes tools like the Enjin Wallet, Marketplace, and SDKs for developers to build blockchain games.

Origin and Background

Enjin started as a gaming community platform in 2009, evolving into blockchain with the 2017 ICO that raised $18.9 million. It's built on Ethereum, focusing on interoperable assets.

Core Concept

ENJ infuses value into digital items, ensuring scarcity and transferability across games. It's like digital gold for virtual economies.

How Does Enjin Coin Work

Enjin Coin operates on the Ethereum blockchain, using ERC-20 and ERC-1155 standards for fungible and non-fungible tokens. Its consensus follows Ethereum's Proof-of-Stake (PoS) after the Merge. Smart contracts handle minting: ENJ is locked into NFTs, providing intrinsic value. Public keys allow ownership verification, while private keys secure transactions. The Enjin Beam enables QR-code asset transfers.

Blockchain and Consensus

Built on Ethereum, it leverages PoS for energy-efficient validation. Nodes stake ETH to participate.

Technical Principles

Users interact via wallets with key pairs. Transactions are broadcast, confirmed on-chain.

How Is New Enjin Coin Created

Enjin Coin has a fixed total supply of 1 billion ENJ, with no new creation post-ICO. It was pre-mined during the 2017 crowdsale. There's no mining or staking for new ENJ; instead, rewards come from ecosystem activities like NFT minting fees. The model is deflationary as ENJ is burned when used in games.

Issuance Method

All ENJ was distributed at launch: 80% to community, 10% to team, etc.

Reward Mechanisms

Developers earn through platform fees, not direct mining.

The Use Cases of Enjin Coin

Enjin Coin shines in gaming, enabling true ownership of in-game items via NFTs. Players can trade assets across titles. It's used for payments in virtual economies, DeFi integrations, and governance in the Enjin ecosystem. Cross-border transfers are seamless due to blockchain speed.

Gaming and NFTs

Mint and trade unique items, like weapons or skins, backed by ENJ.

Other Applications

Supports DeFi lending of assets and community voting.

Buy, Send, or Store Enjin Coin

Buy ENJ on exchanges like WEEX, or via OTC platforms. For secure storage, use hot wallets (mobile apps) for quick access or cold wallets (hardware) for safety. To send, enter the recipient's address in your wallet and confirm. Always double-check details to avoid losses. WEEX Exchange is a trusted platform for trading ENJ. Register now to earn a free 20 USDT bonus and start exploring crypto opportunities. https://www.weex.com/how-to-buy

Purchasing Channels

WEEX offers easy fiat-to-crypto gateways.

Wallet Types and Security

Enjin Wallet provides multi-layer security with biometric options.

Pros & Cons / Risks

- **Pros:** High decentralization, strong security for NFTs, fast transactions on Ethereum layer-2, innovative gaming integration. - **Cons/Risks:** Price volatility, regulatory uncertainties in crypto gaming, technical risks like smart contract bugs, competition from other NFT platforms.

Comparison (optional)

Compared to Ethereum (ETH), ENJ focuses on gaming NFTs rather than general smart contracts. Unlike Bitcoin (BTC), which is purely a store of value, ENJ adds utility in virtual economies, positioning it as a niche player.

Conclusion / Next Steps

Enjin Coin holds potential in the growing metaverse and gaming sectors, with upgrades like Efinity for scalability. Check the whitepaper or roadmap for details. Join the community to stay updated, and consider exploring WEEX for trading.

Market & Ecosystem

Enjin Coin's ecosystem is vibrant, driven by gaming adoption.

Market Cap & Trading Volume

As of 2025-09-08, ENJ has a market cap of $126,203,286 USD and 24-hour trading volume of $9,528,847 USD.

Exchanges Where It’s Listed

Available on major platforms including WEEX Exchange.

Community Size & Activity

Active on Twitter (over 200K followers), Reddit, and Telegram with engaged discussions on updates.

Ecosystem Growth

Partnerships with game studios and high developer activity via SDKs fuel expansion.