12 Reasons Why You Should Invest In Enjin (ENJ) Today

Last Updated August 3rd 2021
17 Min Read

Whether you're new to Enjin Investing, thinking of getting back in, or just want a refresher on why invest in Enjin — this article is for you. 

Enjin is a decentralized platform that enables developers to easily create and trade virtual goods. It has found a use case in the development of NFTs, and the monetization of assets in the gaming ecosystem. The project eliminates the need for developers to learn all the intricacies of blockchain and instead focus their energies on virtual goods development and trading.

Sounds interesting, right? But with so many crypto projects competing for the same use cases, should you invest in Enjin ENJ today, or are there better options? For a project that is working with the likes of Microsoft and Samsung, Enjin looks pretty solid.

However, to help you make an informed choice, here are 12 reasons why you should invest in Enjin ENJ today.

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12 Reasons Why You Should Invest In Enjin

There are all kinds of reasons why you might want to invest in Enjin — probably some you’ve never considered. Here are 12 that we found.

1. Enjin Has Multiple Use Cases

The first thing to look for when investing in any crypto asset is the use case. While there are cryptos that have given superior returns without any real use case, you cannot rely on them for long-term growth.

In a highly volatile market like crypto, it is best to look for cryptocurrencies that have some underlying value, over and above the market speculation.

Enjin happens to be one of the cryptocurrencies with a strong case that gives it some underlying value. It has several use cases that cut across industries, from gaming to real estate. Most of the use cases of this blockchain are so strong that major corporations have started adopting it. Some of its more visible use cases are as below:

a)   Video game industry

In the video gaming industry, Enjin is in a partnership with Atari, one of the world’s largest video game franchises. This use case is probably one of the biggest ones that you should consider as an investor.

That’s because gaming is one of the industries that blockchain technology is disrupting, and Enjin is at the center of it all.

In the past, gamers would invest time and money building a character, but they would not get anything for it at the end of it all.

With blockchain technology, and more specifically, Enjin, it is possible to monetize these characters and turn them into NFTs that can be sold in the marketplace.

Enjin makes this possible without requiring gamers and game developers to spend a lot of time trying to master the underlying blockchain technology. So far, millions of game developers have adopted Enjin, and the ecosystem is growing.

Given that gaming generates over $50 billion a year and growing, it makes sense to invest in Enjin as it has a head start through its partnership with Atari and other gaming platforms.

b)   The auto industry

The auto industry seems keen on adopting blockchain technology, and Enjin has found a use case in it. One auto company that has adopted Enjin is BMW. The automaker is now using this blockchain for the monetization of BMW coin reward points. 

c)   Big tech

Enjin has also found a use case in big tech, Microsoft, to be specific. Microsoft, one of the largest tech companies in the world, is using Enjin to monetize Azure Heroes, the company’s social rewards program.

Still on big tech, Samsung used this blockchain to integrate its S10 wallet into the Enjin blockchain wallet.

 All this points to the power of this blockchain and a good reason to invest in it now.

d)   Unity partnership

Unity has a partnership with Enjin that allows gamers, and other developers, to use blockchain technology in their apps and games. This a big deal considering Unity has more than 4.5 million developers.

e)   DeFi use cases

DeFi is one of the most important aspects of blockchain technology. That’s because it is changing finance by reengineering how lending, borrowing, and other core aspects of finance work.

Enjin has a use case in this market, especially on the Aave DeFi protocol.  Through this protocol, one can deposit ENJ tokens and make money by lending them on interest.

These multiple use cases for Enjin easily make it one of the best blockchains to invest in today. As more people use it in the above and many other spaces, its value will most likely increase over time.

If the applicability of crypto in the real world is a deal-breaker for you, then this is a solid reason why you should invest in Enjin ENJ today.

2. Enjin Has A Capped Supply And It Has Utility

A protocol may have very strong use cases, but if the tokenomics is wrong, or the token has little utility, then it may never grow in value.

There are many blockchains that have experienced a surge in adoption with very little impact on the value of their tokens.

Enjin is nothing of the sort. The token is designed in such a way that as adoption grows, so will its value.

That’s because, for one to use the Enjin blockchain to create NFTs or any other assets, they have to first lock up ENJ. For instance, if one wants to monetize a gaming product, they need to first lock up ENJ tokens equivalent to the product they intend to sell.

From that point on, they can monetize the products and sell them in exchange for ENJ. In essence, the more people use the Enjin blockchain for gaming, and other uses, the higher the demand for this token.

The token supply dynamics are quite good too. Enjin has a fixed supply of one billion tokens.  This is quite low considering that most of the crypto tokens in the market today have a way higher supply than this one.

On top of that, Enjin’s circulating supply is at 83% of the total supply. This means there is a low risk of new tokens diluting the value of those already in existence going into the future. It is a good enough reason to invest in Enjin now.

3. It Has An Active Developer Team

One way to tell if a blockchain project is worth investing in or not is the level of developer activity on the network. When the developers are active, it incentivizes usage, and inspires confidence in new investors.

Using this metric, Enjin easily comes across as one of the best blockchain projects in the market today. Not only is the developer team active, but it has added some interesting features and functionalities that make the Enjin blockchain prime for adoption.

Back in March 2021, they started work on Efinity, a blockchain for Polkadot NFTs. At the time, they announced that they had an alpha version of it running, and it introduced a number of interesting functionalities.

Some of these functionalities are a multiple asset pallet that can be used for token minting, transfers, and even burning.

They also optimized it in such a way that it can handle more than 40 million NFT transfers in one block.

The update also included the inclusion of a REST API that can be used for establishing an interaction of Efinity and the Polkadot wallet.

The team also gave another huge update in June 2021, when it announced the release of JumpNet. This bridge allows for the instant transfer of NFTs between Enjin and other blockchains, more so the Ethereum blockchain.

The Enjin developer team is also expected to release its second JumpNet Bridge this month. This second bridge will allow investors to transfer ERC-1115 tokens through the Enjin wallet. This would help them gain access to an even broader NFTs market.

Another interesting development that the Enjin team recently brought to life is support for MP4 and GIF support. This is a big deal as it makes it possible for NFT creators to come up with virtual assets that are media-rich.

All these developments point to a developer team that is doing everything to incentivize adoption. For any investor that is chasing gains long term, these developments are a good reason to invest in ENJ.

4. Enjin Has A Large Community

The community that supports a crypto is important to its long term growth and adoption. The bigger, and proactive a community is, the higher the chances of a crypto rallying during hype cycles.

To understand the implications of hype to a crypto project, one just needs to look at cryptos like Dogecoin and Shiba Inu. They rallied so hard in the last Bull Run, not so much for their fundamentals, but the presence of a strong, and vibrant community of investors. 

On this metric, Enjin scores pretty well. The project has a huge community of investors, and developers actively building on top of it.  Just to give you an idea of how big of a deal Enjin is, the project has more than 2.3 million active wallets.

The total number of assets created on this blockchain is even larger and stands at more than 1.1 billion. Even more fascinating is the fact that it Enjin trading volumes average over $100 million at any given time. This makes it one of the more widely adopted cryptocurrencies in the market today.

Such metrics when combined with the fact that it has a highly active developer team behind it make Enjin a pretty good project to buy now. As the next hype phase builds up in crypto, Enjin has a community that could easily see it outpace its all-time highs of April 2021.

5. Enjin Is A Scalable Network

Scalability is the biggest bottleneck to the adoption of blockchain technology. Ethereum is one of the projects that has borne the blunt of this problem for a long while, making it impossible for some Dapps to run efficiently on the network.

Enjin does not have this problem. That’s because it uses a Proof-of-Stake algorithm where blocks are validated every 6-seconds.  This means the Enjin blockchain can comfortably handle thousands of transactions per second, without any lags to the network.

The network’s ability to scale makes it perfect for adoption in gaming, finance, and other industries where fast transactions are a requirement.

This is a good reason to invest in Enjin since as adoption grows, so will the value of the token.

6. Enjin Incentivizes Investment Through Staking

Staking has grown to be a perfect way to earn a passive income in crypto. The reason why investors love staking tokens is the ability to offset some of the losses that one incurs in times of market downturns.

Enjin stands out on this front because it is one of the easiest cryptos that one can stake. You literally do not need to be a crypto expert to stake Enjin. Multiple wallets allow for Enjin staking, so where to stake it is not a problem either.

While you won’t make a fortune staking Enjin, you still get something off it, and you will still benefit from value appreciation as network usage grows.

It’s a solid reason to invest in Enjin today.

7. Enjin Has A Multiple-Use Wallet

The quality of a wallet that a crypto uses is often a tell-tale sign of the quality of a project. A good wallet is usually an indicator of developer strength and is a huge incentive for long-term HODLERs to invest in a project.

Without a good wallet, it would mean that investors have to rely heavily on exchanges, and this is not a safe option, especially for those looking to put in a lot of money in a project.

On this front, the Enjin wallet is a huge validation of the project, as it is one of the best wallets in the market today.

One of the advantages of the Enjin wallet is that it supports multiple cryptos. Besides Enjin, one can store Bitcoin, Ethereum, and Litecoin, Binance coin, ERC-20, ERC-721, and ERC-1155 tokens.

The wallet also has a Dapps browser, and also allows one to easily link up with decentralized exchange protocols. Essentially, you can do pretty much all your transactions without leaving this wallet.  However, the best thing about this wallet is that all Enjin transactions are free. 

Uses also love the fact that this wallet is secure.  As long as you keep the seed phrase safe, you are assured that no one can access your crypto.

The efficiency and functionality of this wallet is a huge attractor of investors to Enjin. When combined with the other aspects of the project, it makes it worthwhile to invest in ENJ now, in anticipation of gains in the long run.

8. Enjin Is Decentralized

Decentralization is one of the core features that one should look out for in a crypto project. It is the whole essence of blockchain technology.

The idea is that the more decentralized a project is, the safer. That’s because there is no central point of control that can be attacked. It also means that I case there are bad actors in the project, they would not hinder its ability to operate as required.

Using this metric, Enjin comes across as one of the most secure networks in the market today. It runs on a Proof-of-Stake network, and its network of nodes is highly decentralized. Essentially, anyone who owns ENJ tokens can take part in governance and determine the project’s future direction.

With the security of the protocol assured, Enjin comes across as a pretty good project to buy now. This is especially so when combined with the other project strengths that are discussed here.

9. Enjin Is Available On Multiple Exchanges

Where a crypto is listed is usually an indicator of how good it is. Due to the high number of scams in the crypto market, major exchanges are usually apprehensive of listing projects that may have shady backgrounds. It’s all about protecting their brands.

Using this metric, Enjin ranks among the top creame of projects. It is listed on pretty all major exchanges from Binance, Binance U.S, and Coinbase to the likes of Kucoin and Bithumb.

Two of the exchanges where it is listed are pretty stringent on the kind of projects they list on their platforms. Binance, for instance, is very keen on project transparency. Over the past year, it has delisted multiple projects that it said were not compliant with its listing regulations.

On its part, Coinbase heavily scrutinizes projects before it lists them. Recently, the exchange announced that it had developed a proprietary technology that it would use to test smart contract security before listing tokens.

In essence, being listed on these exchanges is a huge validation to the transparency and security of the Enjin blockchain.

However, the most important aspect to being listed on these big exchanges is that Enjin is less susceptible to price manipulation.

Low volume altcoins that are traded only on small exchanges are very likely to fall prey to price manipulation. That’s because it would not take a lot of money to move the price, compared to a crypto that moves millions of dollars in a day.

Going by these exchange-related factors, Enjin comes across as a pretty good crypto to buy now, and hold for the long haul.

10. Enjin Is A Low Regulatory Risk

Regulators are increasingly taking aim at the crypto market, and this could have damaging effects on some cryptocurrencies.

Already synthetic security tokens have been hit by regulations, as many of them face lawsuits in the U.S and elsewhere.

Many others that have some element of centralization are facing the regulatory hammer too. That’s because, they can easily be categorized as unregistered securities in many jurisdictions.

Enjin happens to be one of the cryptos that do not have much of a regulatory risk to them. That’s because the project is completely decentralized, and its governance is determined by token holders. It does not in any way, mimic any kind of stock in the market today.

Enjin is more akin to something like Bitcoin and Ethereum when it comes to regulatory risk. This may explain why companies like Microsoft do not have a problem using it to run their blockchain project.

Due to its low regulatory risk and its adoption is growing, Enjin is worth investing in, both for short-term and long-term objectives.

11. Enjin’s Samsung Partnership Is A Big Deal

Cryptocurrencies get into partnerships all the time. However, like most things in life, not all partnerships are made equal.

The size and reputation of the company’s involved in such partnerships matters a lot. In the context of Enjin, this crypto’s partnership was a big deal.

Samsung is one of the largest corporations in the world and plays in the same league as Apple, and it has a huge bearing on how people perceive Enjin.

They chose this blockchain for the development of their crypto wallet speaks highly of the Enjin blockchain.

It is a factor that could play a role in its long term value appreciation as new investors get into the market, and learn of it.

12. The Entire Crypto Market Is On A Rebound

Altcoins, no matter how fundamentally strong, or weak they are, usually follow Bitcoin’s price action. That’s why many of them are down by over 70%, after Bitcoin dropped from $64k to around $29k.

The good news is that, Bitcoin is on a rebound. After finding strong support at $29k, Bitcoin has been on a rebound for the last few weeks. This saw it break through the $40k resistance towards the end of July.

While it is still flirting with this level, overall momentum is bullish, and buying volumes are on the rise. If this momentum continues and it pushes the weekly 23.6% Fibonacci resistance at $49600, then it could be on its way back to its all-time highs.

In such a scenario, altcoins too could rally, as their price action has shown in the past week.

Given how fundamentally strong Enjin is, it is one of the cryptos that could see its price rally as Bitcoin turns bullish.

For this reason, it makes sense to invest in this crypto, in anticipation of a Bitcoin rally back to all-time highs.

Conclusion

So, should you invest in Enjin ENJ today? Going by the above, it is clear that Enjin is a good project to invest in now. It is a project that is built for purpose, and this has not escaped the eye of major corporations. This has seen gaming heavyweights like Atari adopt it, and even big tech corporations like Microsoft are using it. When combined with its ever-improving functionalities, and a growing crypto market, it is not hard to see why Enjin is a good investment.

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