Economy
Maximum supply: 1 billion ENJ
Inflation (after all pre-sales, airdrops, bounties, payouts): 0%
Website: https://blog.enjincoin.io
Purpose
Exchanging in-app virtual items or services on a decentralized blockchain.
Benefits for the players
- True ownership of virtual items (recorded on a blockchain)
- Virtual items can be exchanged outside of games (not restricted by game environment)
- Cut out middleman costs for purchasing games, apps & services like eSports
- Pay with uncensorable(decentralized) cryptocurrencies internationally (ENJ can be purchased on many major exchanges)
- No credit cards or expensive bank transactions required
Benefits for developers
- No commission on sales (GameCredits = 10%, Google = 30%, Apple = 30%)
- Fraud protection (no cheating, illegal transaction role back, copy protection, etc)
Benefits for investors
No ENJ will ever be created and the existing ENJ will only be exchanged between different owners.
Since there are no mining, staking or any other forms of inflation, (except for a few some limited airdrops) the scarcity of ENJ should increase over time as the system becomes more popular and the demand increases for a limited supply.
How to get ENJ
- Airdrops and marketing campaigns (limited supply)
- Earn ENJ from the Enjin team (bounties, partnership, etc - also limited supply)
- Buy on the open market (ERC20 tokens)
- Exchange virtual items (tokens which are backed by ENJ) for ENJ or other virtual items
How to get custom tokens
You could potentially win, earn or buy it depending on the game's design.
How do developers profit
- Developers that want to use the ENJ SDK need to buy a number of ENJ tokens.
- This allows the developer to create his own custom tokens backed by his own ENJ.
- These custom tokens could represent virtual game items, subscriptions, rewards, etc. depending on the game's design.
The developer could potentially sell these tokens at a markup to players and/or reward players with it depending on his business model and the type of app he/she is building.
For example, a developer could create a special sword backed by 5 ENJ and sell it for 6 ENJ to make 1 ENJ profit.
How do the Enjin team profit
Beside the pre-minted tokens they had kept back to pay for partners, they will also earn revenue (from FIAT) for ancillary services such as with Enjin X, although adoption is currently the key goal.
The SDK/developer integration will be free.
Competition
- App stores of Google, Apple, Amazon, GameCredits, Game.com, etc. (can only buy virtual items in-game, not resell or exchange)
- Game events/tournaments like FirstBlood (no exchange of virtual items)
Current value
At the time of writing, ENJ has a mobile wallet which stores many popular cryptocurrencies and ERC20 tokens. This can be downloaded for free and you don't need any ENJ at all to use the wallet.
The core technology, SDK's and apps are still under development and at the current state the ENJ tokens are only useful as a speculative investment.
Roadmap
- SDK/Plugins for Unity, C#, GoDot, Java, PHP, Unreal
- Plugins for some popular games like Minecraft, Unturned, Ark
- Payment gateways
- Virtual item exchange / market place
- Top list system
Technology
ERC20 tokens on ETH, but plans to migrate to Efinity blockchain
Concerns
Obviously, this investment will only make sense if this new exchange system gets adopted by game developers and gamers.
Some app stores like Google Play or Apple AppStore might ban apps associated with cryptocurrency trading (in the future) and/or apps that sell their own custom tokens which compete with their own payment systems. If this is the case, developers would either not be able to sell virtual items or would need to find alternative app stores to publish their apps which will greatly reduce the market exposure.
DISCLAIMER: This is not investment advise. You should do your own research and I cannot guarentee that all the information on this page is still relevant or 100% correct.