Thanks to advanced blockchain technology, cryptocurrencies and gaming platforms are merging at a rapid pace now. The cryptocurrency, Enjin, gained massive popularity as an NFT project in 2021. NFTs or Non-Fungible tokens have become a significant part of the crypto market recently. But moving forward, could Enjin Coin be a millionaire-maker coin?
This interesting NFT project has received a lot of traction recently from investors and institutions alike. Experts predict that ENJ has the potential to generate good returns in the future for investors. But why should you buy Enjin Coins now? Let us see.
What Is Enjin Cryptocurrency?
Before discussing whether Enjin Coin could be a millionaire-maker coin or not, it is necessary to understand its unique features. Enjin is a prominent ecosystem of blockchain software products that helps anyone to seamlessly develop, trade, monetize, incentivize and market with blockchain and NFTs. In addition, the Enjin ecosystem is home to several pioneering blockchain games, applications, and projects developed by creative thinkers and established companies.
The Enjin platform deploys an Ethereum based cryptocurrency, ENJ, to back the value of the next-generation NFTs. The project was initially created as a complete ecosystem. It offered a wide range of products to developers who utilized the platform to develop their own projects. Also, the network is used for the creation, distribution, storage, and trade of tokenized digital assets. This is one significant factor that proves that Enjin is a potential cryptocurrency poised for growth.
Yet another reason to buy Enjin Coin is that token users can use the platform to create Enjin-backed digital assets, tokens, or NFTs and utilize them on their platform in the form of NFT artworks, cryptocurrency, or as a digital currency for video games. Moreover, Enjin users are deploying the asset in several unique ways, ranging from digital vouchers to goods that can be used for various video games.
Is Enjin Coin A Millionaire-Maker Investment?
The digital token of the Enjin platform, ENJ, is an ERC-20 token that allows users to create their own NFTs. Since Enjin can be swapped or exchanged for various purposes, the token is used for several real-world applications. For instance, an Enjin client started utilizing the platform to tokenize the commercial real estate properties. Since NFT real estates are an emerging field in the crypto space, the price of Enjin would likely rise shortly. Furthermore, as the coin is available on several major crypto exchanges, investors who wish to buy Enjin can access it easily.
The asset was established by two creative minds Witek Radomski and Maxim Blagov, in 2009. Initially, it was created as a community gaming platform. But later in 2017, the network had an initial coin offering (ICO) for ENJ. The team wanted an ecosystem of user-first products. The purported goal of the project is to build an ecosystem to seamlessly exchange non-fungible tokens, which is why Enjin could be a millionaire maker-coin for investors.
Since the coin is convertible into other digital properties like game items or in-game gold, it is used across different websites and online games, boosting ENJ’s adoption rates. The project has seen rapid growth since the beginning of 2021. It supports over 300,000 gaming communities with 19 million registered gamers.
The Enjin Coin is capped at 1,000,000,000, and almost 847,535,705.57 ENJ coins are in circulation as of writing. Additionally, a part of ENJ acts as a minting resource for every asset that is minted within the network. Since every digital asset is in lock with ENJ tokens inside NFTs, a segment of the token gets eliminated from circulation. Therefore, scarcity will lead to an increase in the price of ENJ, which is why Enjin is an excellent long-term investment option.
Check Out: 12 Reasons Why You Should Invest In Enjin (ENJ) Today
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Factors That Drive EnjinTo Be A Millionaire-Maker Coin
Apart from the popularity of NFT, there are several other reasons why the Enjin Coin could be a millionaire-maker coin.
1. Gamification
Enjin is a cryptocurrency worth buying because of its new novel approach towards gamification. The platform strives to give every in-game or platform-based item a real-world value. This new approach, as their website quotes, “More than simulation, these new realms will empower us to create real-world value while having fun. Precisely, Enjin aims to map a path where the users can experience digital realities.”
The significant feature of the platform is virtual goods creation and management, which is yet another reason why Enjin is a good-buy right now. It offers users the ability to create and manage virtual goods. Moreover, as developers can launch their own cryptocurrencies backed by Enjin Coin, adding crypto tokens to gaming and even gamification is seamless.
2. The Melting Mechanism
Enjin assets have yet another exciting feature. The Enjin wallet allows users to utilize dApps, and they can melt assets into Enjin Coins. This unique project opens a wide variety of opportunities and possibilities, especially for video games. Gamers can easily earn by just playing video games which will boost the popularity and price of Enjin crypto to new heights.
3. Sustainability
Yet another reason to buy Enjin coin right now for future returns is its commitment to sustainability. The project has already signed up to the Crypto Climate Accord and has plans to launch carbon-neutral NFTs by 2030. Moreover, the team announced in July that Enjin was the first NFT company to join the world’s largest corporate sustainability initiative, the United Nations Global Compact.
Additionally, the reduction of its reliance on Ethereum mining limits the ecological impact. As per reports, the method uses almost 99% less power consumption than Ethereum. Since the sustainable nature of cryptocurrencies is a hot topic of discussion in the crypto space, eco-friendly tokens like Enjin are worth buying now.
4. The Launch Of MyFirstNFT Marketing Campaign
The leading non-fungible token ecosystem provider has launched a novel marketing campaign named MyFirstNFT last year, which is also one reason why the price of ENJ is rising tremendously. The campaign lays a platform for a revolution in the way brands interact with potential consumers. As an initial step, the project has completed an airdrop of almost 50,000 NFTs. It represented digital art pieces to a randomized set of users who interacted with its digital ads and social media posts.
The primary aim behind the airdrop was to bring in new users into the space. This was facilitated through user-friendly QR codes that activate NFT-send transactions whenever a user scans, using the Enjin Wallet.
Read Also: Why Enjin Coin Will Skyrocket
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Could Enjin Coin Be A Millionaire-Maker Coin?
Along with earning whenever a user exchanges digital assets, Enjin allows you to create or even mint tokens and NFTs. The asset witnessed tremendous growth in its user activity in 2021, which is why it is best to buy Enjin Coin right now.
The cryptocurrency has partnered with several established institutions like Microsoft, which is why Enjin could be a millionaire-maker coin for investors. It has also partnered with some of the most popular video games like Minecraft to create unique NFT heroes that players could utilize in the game. As a result, the platform is one of the largest gaming networks that supports over 250,000 gamers, and there’s no doubt that the price of ENJ would significantly rise in the coming decades.
Moreover, the project is growing every day. Over 50 companies have joined Enjin’s crypto-collectibles platform, the JumpNet, and is expected to increase tremendously in the future. Finally, when it comes to NFTs, Enjin is famous for assisting Microsoft with its Microsoft AZURE Heroes.
Crypto coin forecast platforms, like DigitalCoin price, think that Enjin Coin could reach over $3.04 before the end of the year. Furthermore, their long-term predictions say that the coin could exceed $10 in the long term, which is why the Enjin Coin could be a profitable long-term investment.
The Bottomline
Gaming is a promising blockchain sector, and investors have just started seeing the yield potential of gaming cryptos. Since the crypto market is highly volatile, a straight yes would not be a sensible answer to whether the Enjin Coin could be a millionaire-maker coin. But considering all the factors, partnerships, predictions, and the potential of the leading NFT ecosystem, Enjin Coin could be a good buy now for generating profitable returns in the future.