What is Enjin Coin?... and is it the best blockchain gaming company? Enjin coin has indeed separated itself as the best of several up and coming blockchain game companies.
Blockchain games have become a hot topic in the cryptocurrency and blockchain space. They offer a unique connection between blockchain technology and the end user. I began to wonder which blockchain gaming companies had the best chance of leading the way in the future. I researched 8 different gaming companies and it quickly became clear that there is one company making major inroads toward the mainstream marketplace. Here are some important things to know about Enjin Coin.
Who is Enjin?
Enjin was founded in 2009 and has over 19 million users worldwide. They provide an all in one game development platform and tools for game developers. In July of 2017, they announced that they would start developing blockchain games in addition to traditional games. They plan on building a complete "gaming universe" in which your characters and game items could travel with you from game to game.
Gaming Universe?...That Sounds Cool. What Is it?
In traditional gaming you earn, or buy, characters in a game to advance to new levels and accomplishments. However, those game characters, and game items, can only be used in that one specific game. Also, when you buy a game item you don't truly own it. In other words, you could not turn around and sell your item for real cash.
Building games on the blockchain allows you to have true ownership of your game items. In addition, when there are multiple games that are built on the blockchain you can easily transfer your items from one game to the next.
A "gaming universe" will be an ecosystem where you can play, trade, and create new items of value seamlessly and between many different games.
How Do Gaming Items Actually Have Monetary Value?
Rare or useful game items can be highly sought after and there is often a high demand for new items. In order for an item to be minted, the item creator pays a certain amount of Enjin Coin in exchange for the item to be developed and added to the Enjin Blockchain. The item is coded with a private key, asset value, and ownership information that certifies who owns the game property. That item can then be bought, sold, or traded in any compatible blockchain game through the Enjin wallet. In addition, if the game asset is in high enough demand it could also be exchanged for other cryptocurrency or paper money.
Game Items have monetary value because they are actually digital property, with proof of ownership, which people in the community are willing to pay for. It is the same concept as owning a rare Babe Ruth baseball card that has been graded and certified. If there is a buyer who is willing to buy it, there is value.
What Is Enjin Doing To Create This Universe?
Enjin has already contributed many innovations to blockchain gaming. Here is a quick list:
-Invented new blockchain tokens (ERC-1155) that improve gamer experience.
-Created a top of the line gaming asset crypto wallet. (Enjin Wallet)
-Created a mint and melt shop for game items.
-Innovated Enjin Beam.
-Provided a platform for the development of many working blockchain games (See List Below).
More Detail About These Innovations...
ERC-1155 Token: Allowed for the creation of fungible, semi fungible, and non fungible tokens using one type of coding instead of having to re-code every item individually.
Gaming Asset Crypto Wallet: Enjin Wallet allows you to store collectibles and game items, exchange cryptos, and search for existing game items across the network. Supports nearly 200 cryptocurrencies and tokens including Bitcoin, Ethereum, Litecoin etc.
Mint/Melt Shop: Both gamers and game developers can create (mint) items that can then be sold or used later. In addition, if a player doesn't want the item, or can't sell it, they can melt it and get some of their money back. I couldn't find this with any of the other game development companies that I researched.
Enjin Beam: Allows you to quickly receive game items from one, or several people, and for multiple items at a time.
Blockchain Games: Enjin already has a fair amount of working games on its platform. Most of the blockchain game companies I researched had less than three working games on their platform.
What Games Are On The Enjin Platform?...(So Far)
Age of Rust
9Lives Arena
Crypto Fights
War Of Cryptos
Bitcoin Hodler
Forest Knights
This list will be growing so you can check for updates Here
How To Buy, Sell, Trade A Gaming Asset
Step 1: Download Enjin Wallet
Step 2: Scan QR code
Step 3: Complete Transaction
Step 4: Done!
Visit my Recommended Wallet Page for more details.
Enjin Competition...My Honest Review
I reviewed seven other blockchain game development companies. This article is in no way intended to be a discredit to what these companies are doing. Many of them have really cool concepts. However, after comparing them, Enjin seems to have more experience, and be further ahead in their developmental process.
Decentraland: Cool Concept. Buy and sell virtual property and develop your land. This is all done in virtual reality and you can communicate with others in the community. Overall, this is not a game development platform that will create a mulit-game universe.
Wax: Is a very cool digital asset exchange but the company does not seem to be fully committed to game development.
Loom: Has three working games but seems to have a weak home page and weak company presence in the marketplace.
DMarket: Has three working games with an easy to use homepage. Items and games are easy to find and trade. Company overall doesn't seem to have as much forward momentum and progress as far as newsworthy developments.
Game.com: Only has one working game. Homepage seems a bit weak and there doesn't seem to be as much company presence in the market place.
Game Credits: Couldn't find any working games, although a news article says many games will be coming in March 2019. We will see.
Inonomy: Had two working games, and a couple in production, but didn't seem like the companies main focus was on gaming and advancing the gaming industry.
Why Enjin Has An Advantage?
The Enjin team has been in game development for for over 10 years with a highly successful track record in the gaming industry. In addition, they have a clear focus and passion to change the gaming industry and improve the pitfalls of traditional gaming. They have already proven that if there is a roadblock to success they will innovate new technology to improve infrastructure for both gamers and game developers.
Recently, it has been rumored that Enjin wallet will be built into the Galaxy S10 phone allowing for easy to use cryptocurrency at the fingertips of tens of millions of people around the world. If this rumor proves to be true it will be a major advancement for Enjin and also cryptocurrency in general.
Information For Game Developers
If you are an existing game developer or want to become a game developer, Enjin provides tools for both traditional and blockchain based games. You can build websites, create guilds, build forums, apps, social profiles, with 70+ modules. You can also build clans or build a minecraft server website.
Click for more details ---->>> Enjin
How To Buy Enjin Coin
In order to buy Enjin Coin you will first need to own some primary cryptocurrency. These would be Bitcoin, Ethereum, or Litecoin. You can purchase them on Coinbase.
Next open an account with a trusted exchange that supports Enjin (ENJ) like Binance.
Once the account is opened transfer your primary cryptocurrency to Binance.
Use primary cryptocurrency through Binance exchange to purchase ENJ.
See My Tutorial Page For Step By Step Guides
Fun Facts About Enjin Coin:
- There will only be 1 Billion ENJ produced. Once all are produced the coin price will be based on supply and demand.
- It is built on the Ethereum Blockchain.
- ICO raised $12 Million.
- Enjin has over 250,000 gaming communities worldwide.
- ForgeHammers were one of the first game items to be used in the Enjin Game Universe.
Conclusion
Blockchain technology is still immature and there is a lot of advancements that need to happen before blockchain companies can be trusted in the mainstream. Games offer a unique way to connect technology with real world end users. The opportunity for game developers to innovate new technology provides crossover into other sectors of the blockchain industry. In addition, games are fun to play and offer immediate feedback from the community. It is exciting to see how Enjin coin, and other companies like it, will help to usher in the next wave of blockchain growth.