Enjin
What is Enjin
Enjin is a blockchain gaming network that enables players to earn, own, and manage digital items across various games. It provides tools for creating and integrating NFTs into games, allowing players to have true ownership of in-game assets.
The network includes the Enjin Wallet for storing and managing assets, NFT.io for trading NFTs, and Enjin Beam for distributing items via QR codes. These tools facilitate seamless interaction with blockchain elements without requiring technical expertise.
Developers can utilize Enjin’s SDKs and APIs to build games that incorporate blockchain assets, fostering an ecosystem where items can have utility across multiple games.
Notable Games
- Lost Relics: An action-adventure RPG where players explore dungeons, defeat enemies, and collect NFTs. Items found can be traded on NFT.io.
- The Six Dragons: An open-world fantasy RPG featuring over 1 billion dungeons. Players can craft, enchant, and trade NFT-based items.
How Gamers Can Earn
Players can earn by engaging in games like Lost Relics and The Six Dragons, where completing quests and defeating enemies yield NFT items. These items can be traded on NFT.io, with value determined by rarity and demand. The Enjin Wallet integrates with exchanges, allowing players to swap game-specific tokens for other cryptocurrencies, facilitating the conversion of in-game rewards into tradable assets.Staking and Rewards
Enjin Coin (ENJ) is the native token of the Enjin ecosystem. It is used for minting NFTs, paying transaction fees, and participating in governance. ENJ can be staked through nomination pools, offering an estimated annual reward rate of 36.2%. Stakers receive sENJ tokens representing their stake, which can be exchanged back to ENJ, providing flexibility and liquidity.Nodes
Enjin’s blockchain is secured by validators who run nodes. While the node program is open to the public, running a node requires staking at least 15,000 ENJ. However, only the top 13 validators actively earn rewards, which currently requires around 32.5 million ENJ in total stake.
This high entry point means the program is best suited for institutions or large holders, rather than the average investor or gamer. Validators earn rewards based on performance and uptime, helping maintain the network’s security and reliability.
Tech & Background
Enjin was founded in 2009 by Maxim Blagov and Witek Radomski as a gaming community platform. In 2017, it pivoted to blockchain technology, co-creating the ERC-1155 token standard.
The Enjin Blockchain, a Layer 1 solution built on Substrate, launched on September 13, 2023. It integrates features like NFT minting, staking, and governance at the protocol level.
Enjin has partnered with companies like Microsoft and Samsung to explore blockchain applications in gaming and beyond, enhancing the utility and reach of its ecosystem.
General Info
Type: Chain
Launch Year: ≤2020
Tech Layers: L1
Region: Global
Focus Areas: Game Development, NFT Marketplace
Token
Ecosystem
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