5 Reasons Why Enjin Could Double Your Money

Last Updated September 14th 2021
10 Min Read

If there is one industry that has rivalled cryptocurrency for its unprecedented growth in recent years, then it is that of online gaming. So when projects like Enjin come along, which effectively combine the two, it’s only natural for investors to smell serious opportunity. 

Anyone who has spent any time online has probably heard of Fortnite or PUBG - these games have gotten so big that there are even international tournaments that you can bet on with leading bookmakers. Included in these games is the ability to buy and sell certain items - known as digital assets.

It’s probably fairly obvious that anything involving the buying and selling of digital assets is the perfect environment for blockchain to thrive and that’s effectively Enjin’s objective. The platform was set up specifically for the gaming industry and the project seeks to provide the ultimate place for developers to embed in-game transactions powered by blockchain. 

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So is Enjin a sure thing, or is the world of online gaming simply too diverse for it to gain any real traction? In the following article, we’ll look at five reasons why Enjin could be a solid investment opportunity.

1. Online gaming is seriously big business

Video gaming was already a massive industry long before cryptocurrency came into being, but since Bitcoin launched in 2009 gaming has continued to move online - especially with the growth of massively-multiplayer games like World of Warcraft, Fortnite and Minecraft. 

Fast forward to 2021 and an estimated 2.5 billion people worldwide play some kind of video game - that’s almost a third of all human beings on earth! Naturally, this has made the online gaming market hugely lucrative and, at the time of writing, the industry is said to be worth in excess of $18bn.

But gone are the days when buying a game consisted of purchasing a disc in store. Now games are downloaded and played before expansions are released for purchase. Its also possible to buy and sell items within the gaming world, such as different costumes and weapons.

And this is where projects like Enjin come in. The platform seeks to implement blockchain to support these in-game purchases and allow players to actually take ownership of the digital assets they buy and sell. 

2. Enjin already has a strong industry presence

Enjin’s focus on blockchain is a fairly recent development - it was in 2017 that the firm raised $18.9 million with an ICO and this marked something of a change in direction. In actual fact, the company behind Enjin launched the original Enjin Network back in 2009 - before blockchain had even entered the public consciousness. 

The network itself was intended as a community gaming platform and is still in operation today. Not only that, but the platform has proven to be a hit with gamers, boasting over 20 million users at the time of writing and featuring more than 250,000 gaming communities.

We all know that momentum is hugely important when it comes to the cryptocurrency space - after all, Bitcoin isn’t dominating the market due to any technical superiority and the success of Dogecoin is almost entirely down to what has effectively been a trend.

If Enjin proves its worth as a platform for gaming developers to implement blockchain, then it could prove to be a very worthwhile investment. It might be unlikely to double your money by the end of the year, but it’s certainly a worthy portfolio consideration. 

3. Enjin is a highly versatile project

We have already looked at how big the gaming industry is and what Enjin’s role in it could be, but this can sometimes present a narrow view of the project's true potential. Whilst it is first and foremost a platform for community gaming, Enjin has other use cases that might be less obvious. 

For example, Enjin has entered into a partnership with BMW to integrate the ENJ coin into the automotive giant’s Vantage app. The app will be used as a kind of bonus platform that allows customers to exchange the tokens for various goods, services and even to make payments for certain items.

In addition to this, Microsoft has also adopted Enjin for its social rewards programme, Azure Heroes, which gives players NFT-based assets to use in the hugely popular Minecraft universe. According to Microsoft’s Azure developer engagement lead, Sherry List, the collaboration between Microsoft and Enjin has allowed her department to integrate “cutting-edge technology” with educational tools while simultaneously recognizing developer communities.

Of course, both these projects relate to the world of gaming, but they show that the Enjin project can be implemented in different ways. In addition, partnerships with the likes of BMW and Microsoft lend a great deal of credibility to Enjin’s future as a mainstream blockchain platform. 

Read Also: Could Enjin Coin Be A Millionaire-Maker Coin?

4. Enjin is widely listed and a popular asset for trading

To the casual observer, it may appear as though Enjin is the crypto market’s best kept secret, but the reality is that most serious investors have long realised its potential. In fact, the ENJ token has proven to be a highly tradable asset.

This is reflected by the fact that the token is listed on almost all of the world’s major cryptocurrency exchanges, including Binance and Coinbase. Not only does being widely listed demonstrate a token’s popularity amongst traders and investors, but platforms like Coinbase are known for their fairly stringent requirements when it comes to listing, which lends validity to the project as a whole.

However, being widely listed also has a practical application - it means that there is far less chance that Enjin will see price manipulation, as can be the case with tokens that are only listed on a handful of smaller exchanges. At the volumes in which Enjin trades, however, it would simply require unrealistically large sums of cash to manipulate the price. 

5. Enjin is tipped for growth

If the features we’ve discussed so far haven’t convinced you as to Enjin’s future potential, then perhaps its worth taking a look at predictions from some of the leading cryptocurrency sites out there. Whilst these may be speculative, they suggest that ENJ could see significant growth in the coming years.

At the time of writing, ENJ is trading at around $1.70. However, by the end of 2021, WalletInvestor expects the token to have reached a potential high of $2.96. Whilst this isn’t quite double its existing value, the platform believes investors will only have to wait until May 2022, when ENJ is predicted to have seen 100% growth. 

Meanwhile, DigitalCoinPrice expects ENJ to reach the $3 early in 2022, before continuing to grow over the next couple of years. According to its technical analysis, investors can expect to double their money with Enjin as early as January 2023, when prices are predicted to reach $3.93. 

Finally, looking further ahead, CryptoGeek has ENJ reaching $5 by the end of 2025. It is then expected to continue on an upward trajectory before levelling out at around $8 by 2030.

Don't Miss: What Will Enjin (ENJ) Be Worth in 10 Years?

Conclusion - Is Enjin A Good Investment In 2022?

Whether you’re a fan of online gaming or not, the potential of Enjin as an investment opportunity should be fairly obvious. The sheer size of the market and the popularity of in-game purchases mean that the numbers are certainly there to see ENJ soar in value over the coming years. 

In addition to the likes of Fortnite, Minecraft and World of Warcraft, we have also seen how projects like Enjin can be utilised by existing platforms, such as the BMW app mentioned earlier. The reality is that the concept is highly adaptable and Enjin can be used for any app or program that offers the transfer of digital assets. 

We have also seen how many leading cryptocurrency analysts are predicting growth for ENJ - and not just over 2021, but well into 2023, 2024 and beyond. If these predictions pan out to be accurate, then those who choose to invest in Enjin today could see themselves seeing solid returns in future. 

Whether or not Enjin can double your money in 2022 remains to be seen, but the project is certainly one to keep an eye on in the coming years. 

Where to buy Enjin

As we’ve noted above, Enjin is a popular cryptocurrency to trade and you’ll find that it is listed on most major exchanges. However, if you’re new to the market then we’d recommend checking out eToro, as it has an excellent reputation for providing retail trading services through a highly accessibly platform.

All you need to open an account is a web-connected device along with a proof of identity to verify your details. Once this is down, you’ll have access to numerous financial instruments, including cryptocurrency and, in particular, Enjin. 

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Are gaming cryptocurrencies going see significant growth?

The gaming industry is absolutely huge - worth an estimated $18bn in 2021. It therefore stands to reason that any cryptocurrency that can attach itself to said industry stands a good chance of seeing significant growth over the coming years. 

Will Enjin double my money in 2022?

It is unlikely that Enjin is going to double your money by the end of 2021. However, looking ahead to 2022 and 2023 it seems most analysts are predicting growth and ENJ could well see its value increase 100% within two years. 

How do I invest in Enjin?

If you are looking to by Enjin then you’ll need to find a suitable broker to give you access to the cryptocurrency market. We usually recommend eToro, as its a highly reputable broker that lists most of the major tokens - including ENJ. 

Is Enjin better than Decetraland?

Whilst both Enjin and Decentraland are very much ‘gaming cryptocurrencies’, their objectives are very different. Decentraland offers an immersive virtual experience where users can buy and sell virtual real estate. Enjin, on the other hand, is designed to facilitated the transfer of digital assets in third party software.

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