##ENJIN (ENJ) - a gaming cryptocurrency and smart contract platform that gives game developers, content creators and gaming communities the required crypto-backed value and tools for implementing and managing virtual goods.
INFO:
White paper: Yes
Market: Gaming
Amount being raised: 73,735 ETH ~ $22M (91.31%)
Hard cap: ~$25M
Soft cap: 60,000 ETH ~ $18M
Tokens created: 1billion fxed supply
Accepted contributions: ETH
Token Protocol: ERC20
This is an exciting project with a great potential to explode in 2018 if everything is completed according to their roadmap. It’s supported by an established community of over 18.7M users in the fast-growing gaming industry, a competent team and a company with 9-year history in the gaming industry. Their token utility is also differentiated from the current competitors, allowing game developers to create custom coins, in-game items etc based on ENJ and also converted back
across multiple different games. The drawbacks are high competition with notable competitors (GameCredits), and rate disparity between pre-sale & public sales.
Therefore, it might not be good returns for fipping but rather long hodl till next year. In my opinion, the team is competent to quickly grow the market and facilitate the adoptions across different platforms.
Opportunities:
- A scalable and proven concept with the success of current working projects like Game Credits
- The gaming industry is large and exploding rapidly – projected to reach US $128.5BN revenue by 2020. In which, virtual goods market is expected to reach US$ 17.4BN by 2019.
- Likely to gain traction in the near future (Q1-Q2 2018) when coins are released to 30 30,000 verifed gaming communities to incentivize the adoption (6 months after the crowd sales). Strong future growth in the gaming community
- Flexible token utility and additional supporting toolsets that differentiates ENJ from other projects.
- An experienced team who understand the gaming industry and successful built a website from scratch to rank #9,373 in the world with 8.45M visits per month on average.
- Increasing scarcity when ENJ is used to create custom assets, decreasing the number of ENJ in circulation -> preserving and increasing the value of ENJ over the long term if the team succeed to widespread the adoptions
Concerns:
- Notable competitors such as Game Credits (GAME) and MobileGo (MGO), where ENJ might face challenges in getting users to switch once more platforms start using their competing coins.
- Early adopters are heavily from Minecraft as the largest community on Enjin which poses potential risks if it fails to popularize among the community.
- A large disparity between pre-sale price & ICO price might be a disadvantage for late comers and perhaps market price when it’s frst listing on the exchange => This can create selling pressure once tokens are traded if pre-sale investors decided to dump at much lower prices than the public sales prices.
Disclaimer: This is only a personal opinion and not an investment advice, we don't endorse any of these ICO's covered and ICO's inherently risky never invest what you can't afford to loose.
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