Enjin Coin(ENJ)
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Modified on: Thu, 28 Sep, 2023 at 3:14 PM
Enjin Coin (ENJ) is the ERC-20 token of the Enjin gaming platform used to directly back the value of non-fungible tokens (NFTs) and other blockchain assets to ensure real-world liquidity and value for in-game assets.
Enjin is a blockchain-based, next-generation gaming platform that aims to bring blockchain technology to the masses by enabling game developers and businesses of all sizes to easily mint their own NFTs on the Enjin Platform and tokenize digital assets directly backed by ENJ.
The Enjin ecosystem is fueled by ENJ, which is used in a series of off-chain and on-chain processes and smart contracts to back each created token enabling users to easily mint unique fungible or non-fungible tokens on the Ethereum network. Because each token minted on the Enjin platform is backed by ENJ, ENJ effectively functions as a gold standard for these tokens meaning these NFTs are backed by real-world value and can be liquidated into ENJ by the owners at any time.
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