Why Enjin Coin Is Going To Explode In 2023

For all the right reasons, the Enjin Coin is on the watchlist of many investors.

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Last Updated December 29th 2022
7 Min Read

Enjin Coin (ENJ), the Ethereum based cryptocurrency that backs the value of next-gen NFTs, has seen tremendous growth since the beginning of last year. The platform also has experienced increasing growth in its user activity recently. Experts predict that there are several reasons why Enjin Coin is going to explode in 2023. Let us explore some of them. 

As millions of people use Enjin’s products to manage, create and trade fungible and non-fungible tokens, the crypto has gained massive popularity. It also aims to compete against Ethereum as the key platform for game-based tokens.

Is Enjin Price Set For A Massive Rally In 2023?

The purported mission of the Enjin project was to create an ecosystem for exchanging non-fungible tokens seamlessly. The platform also allows users to create or mint tokens and NFTs, and earn profit whenever a user trades digital assets.

2021 was a prolific year for the asset as it has entered into numerous partnerships with established institutions. Let us see why Enjin Coin has massive growth potential.

Here are some of the factors that back up the prediction that Enjin asset is going to explode in 2023.

#1 ENJ’s Tremendous Growth

Since its inception in 2017, ENJ has been alluring users and developers with its technology to launch their own NFTs. As a result, it has served as a dominant player in the NFT space over the past few years. Reports say that the platform already has millions of users split across 250,000 gaming communities and is still growing. 

The platform’s native cryptocurrency ENJ is used to assign ownership to in-game assets. Moreover, Enjin is known for being a development platform for both scalable and interoperable decentralized technology ecosystems. Its whole product suite consists of Enjin wallet, Marketplace, Beam, and JumpNet. These products are widely employed in the blockchain gaming sphere. 

After a long-time resistance, the price of ENJ increased significantly at the beginning of 2021. It rose higher to $4.00 in April and later hit $4.85 in November. With new partnerships and updates, the platform has expanded its borders, which is another reason why Enjin Coin will explode in 2023.

#2 Unique Features That Sets ENJ Apart From Other Cryptocurrencies

Enjin Coin is one of the top cryptocurrencies that will rise in value as it is considered an innovative token with the potential to transform the worldwide video game industry. The gaming crypto has several other unique features. The Enjin network is a multi-product marketplace and a social-gaming platform that allows users to create, distribute, store, exchange, and integrate tokenized digital assets. 

A significant feature that makes Enjin Coin a good buy now is that users can design and reconfigure ENJ-backed digital assets in multiple ways. It ranges from art NFTs to digital rewards and merchandise that can be found through various video games. In addition, it delivers blockchain-based interconnected gaming products to millions of players worldwide. It is best to buy Enjin Coin now for future returns as gaming is an ever-expanding industry with plenty of room for growth. 

Enjin is both an ERC-20 token as well as an ERC-1155 token that ensures the project supports payments and smart contracts. Yet another exciting feature of the coin is its melting mechanism. Users can easily melt their Enjin assets into Enjin Coins. This opens a wide array of possibilities for video games. Enjin Coin has gained massive popularity amongst gamers as it enables them to monetize the time they spend playing video games. 

#3: Enjin Product Suite- Tools And Solutions

The Enjin network has five key tools and solutions. They are:

  • Platform - This is the tool that lets users create or mint tokens and NFTs
  • Marketplace - Enjin Marketplace is the space where you can post your NFTs after creating them. Users can also browse for works from other people here.
  • Wallet - An Enjin Wallet is necessary to store various cryptos. It also features a fast, flexible dApp browser that provides users with a hassle-free blockchain-integrated browsing experience.
  • Beam - Beam Campaign is how the world knows about your assets that are stored in the network. It involves sharing QR codes that link to your works. 
  • Explorer - This specific tool lets users see the latest updates for Enjin. It includes a complete list of projects, tokens, and assets on the network. 

#4: Sustainability 

A key reason to buy Enjin Coin right now for future profit is its sustainable nature. The network has a more eco-friendly design, and it has also released a five-step plan to enable carbon-neutral NFTs by 2030. 

Also, Enjin is making its move towards a Proof-of-Stake mechanism where the blockchain verification entirely depends upon a smaller number of trusted computing partners. This method does not use much energy, making it a sustainable coin for future generations. 

Moreover, Enjin also joined the Crypto Climate Accord on June 24, 2021, with a valiant attempt to decarbonize its footprint. Since the hot topic of discussion in the market is the environmental concerns of cryptocurrencies, this will give the token an added credit. The sustainable nature of this leading NFT provider is one reason why Enjin Coin is going to explode in 2023.

#5: Is Enjin Coin Going To Explode In 2023? Expert Predictions 

Even though accurately predicting the future of a cryptocurrency is a difficult task, several experts have a positive outlook about the prospects of the Enjin coin.

Experts from WalletInvestor expect ENJ to rise higher than $4.85 per token in one year. While according to Digitalcoin Price, ENJ could reach over $3.04 by the end of 2023. They also predict that the coin might exceed $10 in the long term, making Enjin an excellent long-term investment option. 

Check Out: Enjin Price Prediction 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Major Partnerships And Upgrades 

2023 is the best year to buy Enjin Coin for future returns as the team has entered into several new coalitions and has an array of developments. Some of them are:

The Samsung - Enjin Partnership 

Samsung has announced its partnership with Enjin Coin. The digital asset is supported by the company’s latest flagship smartphone, Samsung Galaxy S10. The news of the coalition skyrocketed the price of ENJ in April 2021. The unique partnership could also indicate that the tech mogul is diving deeper into the field of the e-gaming sector. 

The Enjin - Virtual Worlds Partnership 

The partnership between Enjin and Virtual Worlds has gained immense popularity and is one of a kind for the platform. The coalition is significant as it will be marked as the first-ever collaboration to bring non-fungible tokens to the world of digitized historical landmarks. Also, Virtual Worlds will utilize its extensive collection of digitized landmarks to create novel gamification possibilities with NFTs.

JumpNet And Efinity

Efinity and JumpNet are the two major scaling solutions introduced by Enjin to increase support for NFTs while removing Ethereum’s high gas fees from the process. These were introduced earlier this year and have significantly boosted Enjin Coin’s growth. The company claimed that the solutions would enhance funding for NFTs and thereby eliminate Ethereum’s expensive gas fees. 

JumpNet works as an interoperable bridging network that will operate under a Proof-of-Authority (PoA) consensus mechanism. Over 50 companies have already joined the crypto collectible platform. On the other hand, Efinity has been created as Enjin’s public blockchain for NFT, which will help users create a free digital economy. 

Moreover, the team has also raised multimillion-dollar funding and has secured $18.9 million to migrate Efinity to the Polkadot network. The Efinity token sale would help Enjin create its NFT platform by eliminating Ethereum’s expensive gas fees. This is one significant reason to buy Enjin Coin right now, as its price is expected to rise even higher in the coming decades.

Why Is Enjin Coin Going To Explode In 2023?

The company switched to NFTs almost four years ago and created an ecosystem for developers to add blockchain to their games. Today, the Enjin platform has thousands of communities and more than 20 million users on the original platform. Over 40 game companies are using the platform currently. Enjin has successfully built bridges to other platforms such as Ethereum too. Also, millions of Minecraft players are already using Enjin’s community software suite to interconnect with other players. 

Therefore, if you have plans to buy ENJ, this could be the right time to invest in it. With all the developments and novel partnerships, Enjin Coin could explode by the end of 2023 and can be a viable option for long-term investors. 

Don't Miss: Could Enjin Coin Be A Millionaire-Maker Coin?

The Bottomline

Investors have started seeing the potential in gaming cryptos recently. This has opened up a good opportunity for long-term investors who are planning to buy Enjin Coin. The popularity of NFTs and gamification is just one reason why Enjin Coin is going to explode in 2023. 

As mentioned above, there are multiple reasons to prove that this unique cryptocurrency is here to stay for long. Several applications have been trying to bridge the gap between cryptocurrencies and gaming platforms earlier but, Enjin has done a tremendous job with its unique blockchain technology, making it a solid investment venture. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.