Video games have come a long way since the days of Pong, not just visually and mechanically, but also in how we've been able to create entire virtual worlds that entrance players into accepting it as a part of their own reality. The Enjin Network is leading the new-age pioneers seeking to change this space, creating a decentralized gaming platform that provides the foundations to create truly expansive ecosystems.
Players could spend entire lifetimes inside of a game but might never see or explore the true depth of it all. Not only the game itself, but Enjin's key uniqueness compared to its peers is its powerful tools to create a new digital economy, built from one game to the next. The interconnectivity of users buying, selling, collecting, and exchanging digital goods and services is already a powerful and profitable aspect of the gaming industry.
However, while those assets would normally be worthless outside of the game, Enjin uses its Enjin Coin (ENJ) to tokenize assets built on its blockchain, thus further opening the new potential for digital items to have value in the physical world. Given its promises to revolutionize the already expansive gaming industry, both in how games are developed and played, our Enjin Coin price prediction forecasts a very bright future ahead for this nascent project.
Enjin Coin Historical Price Analysis
Initially founded in 2009, Enjin later moved towards adopting blockchain technology in its platform. Enjin Coin was first created on Ethereum's ERC-20 standard but has then evolved into its own more versatile ERC-1155 standard to better facilitate transactions on its network of games, platforms, and web applications. They held an initial coin offering (ICO) in 2017 that raised $18.9-million to help fund its future developments.
According to data from CoinMarketCap, your potential return-on-investment, if you had bought ENJ tokens during its ICO launch price, would be a very impressive 642.44% gain. Since it had begun trading publicly, it bottomed out to an all-time low not long after its launch, trading at $0.01562 on November 2nd, 2017. Within just two months, it ascended rapidly to an all-time high of $0.49340 on January 7th, 2018. ENJ's trading has since cooled.
Current Price, Market Cap, & Supply Details
Based on data compiled by Messari.io, ENJ tokens have maintained fairly strong volatility compared to other cryptocurrencies, although this is expected for a smaller market-cap asset such as Enjin Coin. At the time of writing (January 14th, 2021), Enjin Coin is trading at $0.18056, which is a 6.97% gain in 24-hours. By comparison, this is a 63.4% loss compared to its all-time high and a mighty 1,055.96% gain from its all-time low.
Enjin maintains a total supply cap of 1,000,000,000 ENJ tokens to create an anti-inflation model that encourages users to mint its tokens into digital blockchain assets. Enjin Coin is infused into an asset built and powered by Enjin through ‘minting,' which gives digital items intrinsic value through tokenization, regardless of whether it is fungible or non-fungible.
The process can also be reversed through ‘melting,' which is essentially destroying a blockchain asset and turning it back into ENJ, thus increasing the scarcity of certain items. Enjin Coin's current circulating supply is 823,130,411 ENJ, valuing its market capitalization at $148,620,541, thus making it the 104th-largest cryptocurrency.
Enjin Coin (ENJ) Future Price Forecast Predictions
Enjin has already enjoyed a very healthy and robust growth since its pivot towards a blockchain model in 2017. There are over 20-million users currently, with 1-million wallets hosting Enjin Coin, 2.1-billion unique assets created and powered by the Enjin network, plus a very active marketplace volume worth 8.9-million ENJ.
Combined with the increasing popularity of video games, evident by the massive year-on-year rise of player-base growth, Enjin's technology is primed to capture even more people into its ecosystem. Subsequently, our Enjin Coin price prediction has aggregated a very bullish sentiment for its forecasted future.
Enjin Coin Price Prediction 2021
It's worth considering that Enjin Coin trades in a more volatile market relative to other Top-200 market-cap cryptocurrencies, so it's wary to be cautious when buying in. That said, ENJ is still primed to potentially make healthy gains in 2021 based on the algorithmic models that we've found. With the gaming market primed to grow even further, people are looking for more indoor entertainment, while in Covid-19 lockdown, 2021 would be the year to see Enjin flex its muscles.
Enjin Coin Price Prediction 2023
Enjin has two major roadmap updates planned that allow game developers to expand their digital ecosystem even further. Enjin Multiverse is a clever interoperability mechanic that allows items, statistics, and other data to be shared across different games running Enjin's blockchain, even if developed by different studios.
Unlike ordinary games where items are kept only within themselves, Enjin's Multiverse system would enhance an already powerful experience by letting gamers bring their favorite tools – such as weapons, armor, cards, or gear – from one game to the next. By connecting with Enjin's marketplace and wallet services, it increases the usability of ENJ.
Enjin Coin Price Prediction 2025
One of the major challenges facing blockchain applications is scaling. Given that Enjin is built on Ethereum, it suffers much of the same bottlenecking issues that prevent it from processing large amounts of data. It might come far earlier than 2025, but Enjin is already trying to solve this issue with Efinity, their in-house scaling solution.
It aims to allow game developers to run nearly an infinite number of transactions within a game at a low cost. Improving the ease-of-use and convenience of an in-game economy would be a boon for the native ENJ tokens, as the underlying player-based continue to strive to develop and expand their own in-game economies.
Is Enjin Coin A Good Investment?
Even putting aside the impact of the Covid-19 pandemic and lockdowns, which has brought a large influx of consumers into indoor entertainment services and platforms, the gaming industry is primed for lift-off.
Major platforms such as Steam or Epic are listing more and more games every single day, with developers increasingly adopting ever-greater immersive technologies where you could easily lose yourself in their virtual environments. Combined with developers' strong push towards more repeated monetization of games, it puts Enjin in a uniquely favorable position.
As is evident with our Enjin Coin price prediction forecasts, it's certainly worthy of a strong recommendation if you're planning to invest in it. The Enjin Network's decentralized platform greatly entices both users and developers to exchange digital assets on a widely versatile marketplace that could not only be enjoyed in a video game but has real-world value.
Developers could easily build blockchain assets and entire games while easily integrating them with popular gaming engines such as Unity, without any or little need for complex programming through their powerful and secure API.
Here, anyone can create any variety of different fungible or non-fungible assets; such as custom characters, in-game perks, usable items like weapons or armor, in-game currencies, digital artwork or other collectible goods, virtual properties like real-estate and living spaces, prizes for online contests, branded goods, one-time or successive personal achievements, and anything else that could be of value.
With Enjin, they could either be programmed to be inflationary in nature that will grow in value along with your userbase, or deflationary assets that will become more scarce with a growing network of players.
This encouragement for pay-to-earn mechanics will not just attract new users and maintain better player retention but will encourage existing ones to exchange more, such as buying and selling in-game items or unique collectibles on an open market. The benefits will also go both ways towards the developers, who could easily monetize their games with potentially greater efficacy than traditionally disproportionate and unpopular solutions such as microtransactions.
They can earn fees when players use their in-game marketplaces built on Enjin, where there are already over 38,000 traders and having sold more than 500,000 unique assets at a volume of 5.9-million ENJ.
Enjin has also built other services to increase interaction between game creator and their audience. Enjin Beam is a tool that provides developers with the ability to build special goods or services for their player-base and then share them through social media or within the game.
They can create unique redeemable blockchain-built assets such as in-game goods, discounts, early access codes, season passes, artwork, and many more. As a gamer, it's an exciting challenge for you to try and find them. So far, Enjin has already distributed more than 186,300 assets through 1,300 campaigns, with over 59,700 participants.
How To Buy Enjin Coin (ENJ)?
Enjin Coin (ENJ) is the primary transaction currency on the games, services, and applications that run on Enjin's blockchain. You may use sites such as CoinMarketCap or CoinGecko to find a comprehensive list of exchanges that let you buy Enjin Coin. Being a smaller market-cap cryptocurrency, ENJ is not supported by as many exchanges, but you can easily find them on popular marketplaces such as Binance, Upbit, BKEX, Bithumb, HitBTC, Bittrex, Crypto.com, KuCoin, or Kyber.
More Information About Enjin Coin
Enjin is a decentralized blockchain gaming platform that offers developers the tools and services to build and monetize their games while also creating a virtual economy for gamers to transact in-game items. The native currency is Enjin Coin (ENJ), where players can easily transact and exchange items within a game using an Enjin-powered marketplace.
The most unique characteristic is that while normal items within video games do not hold value in the physical world, Enjin-built games are tokenized using ENJ. This allows gamers to earn money from playing video games.
Enjin's platform also gives developers the ability to create their own specialized tokens that can be paired with ENJ, tailored specifically for their individual games or applications, befitting its core audience.
As we've already discussed how they work and are deployed between the developer and the player, Enjin has built a wallet and marketplace interface as an in-between to extract the value of a digitally-created asset further.
Firstly, Enjin Wallet is a secure mobile app for iOS and Android that gives the user the ability to hold and keep track of an infinite number of wallets. Owing to Enjin's ability to grant developers the tools to create their own tokens, the wallet app allows you to swap between hundreds of different supported tokens that are paired with ENJ.
It also functions to store collectible assets that you've amassed in your in-game inventory, such as rare cards or items. What you've earned by playing a game could easily be bought, sold, or stored.
The wallet application natively connects to the Enjin Marketplace, which runs on their specialized EnjinX explorer that allows gamers to discover, buy, and sell those unique assets created on the platform. To date, 747,500 different assets have already been sold on the marketplace, creating a vibrant ecosystem where players can make a living just by spending time in a video game.
Individual creators could also create their own in-game storefronts using Enjin, including an even more versatile tool for other blockchains or major platforms to use Enjin to create their own branded store.
Given all of Enjin's potential and powerful solutions within a hotly developing industry, our Enjin Coin price prediction forecasts a fairly hopeful future. With the growing popularity and frenzy around video games, the heightened publicity has also brought to attention some of the core issues with the gaming industry and the player community today.
The most spoken about the problem is perhaps around the concern of micro-transactions and other such greedy monetizing tactics such as loot boxes or pay-to-win practices.
We've now come to a new dilemma; how could we make a great and immersive virtual gaming environment that would allow developers to monetize them more effectively while also not overly punishing the player's bank account? Enjin has sought to solve the issue at hand and even more beyond that.
Its clever solution gives the foundations to build a truly decentralized structure with fair monetization to the gaming community. On top of that, both the developer and player could strive within a virtual world for hard-earned assets with value in the real world. Even if you're not a gamer, it's hard not to get excited about Enjin.