Non-Fungible Tokens (NFTs) and ENJIN (ENJ)

If you’re a gamer or if you follow cryptos, references to non-fungible tokens (NFTs) and ENJIN (ENJ) are popping up everywhere. What are NFTs? What’s ENJ? How does ENJ compare to other cryptocurrencies and NFTs?

ENJIN (ENJ) Overview

ENJ’s current market cap is approximately USD 1.5 B as of this writing. Live price data shows that one ENJ is valued at USD 1.80 with a daily trading volume of almost USD 185 M. ENJ has a circulating supply of about 855 M. The maximum trading supply is 1,000,000,000.

It’s ranked in the top 100 cryptocurrencies. According to Bloomberg.com, there are more than 8,000 cryptocurrencies today.

Where Does ENJ Trade

ENJ currently trades on Binance, FTX, Bybit, Coin Tiger, OKX, and others.

ENJ, NFTs, and the Ethereum Ecosystem

ENJ is another way to buy game coins. Because it is not proprietary to one blockchain game, it works in a variety of game formats.

ENJ’s software development kit is crucial to the creation of digital assets, e.g. game currency or other specialty items in games. The player stores ENJ in their digital wallet. ENJs are locked into smart contracts to protect their fiat currency exchange value.

Non-fungible tokens (NFTs) are coins that can be equally exchanged one-to-one with another NFT. Fungible units are considered identical and interchangeable with another item of the same description or classification:

• Currency is an interchangeable, divisible asset. For instance, a dollar is always divisible into 100 cents.
• Physical appearance doesn’t affect a fungible asset’s agreed-upon value. For example, a crumbled dollar bill buys the same amount of goods and services as a fresh bill.

ENJ is an NFT space pioneer on Ethereum ecosystem, ENJ’s ERC-1155 contract allows for NFT upgrades. Developers are aligning with Microsoft, e.g. Minecraft. Many online games use cryptos as “in-game” money. Players use this crypto to buy weapons, tools, and characters. Play-to-earn formats allow gamers to earn crypto coins as they perform tasks. According to Fool.com, blockchain gaming coins e.g. Axie Infinity, Decentraland, The Sandbox, and Enjin may have strong appreciation potential.

ENJ Outlook

ENJ’s volume to market cap is currently 0.1203. Like other cryptos, ENJ is volatile. Prices can rise and fall faster than the general markets.