Enjin Coin logo

Enjin Coin price

(ENJ)

Share
Share
$1.2B
$173.1M
834.3M ENJ

About Enjin Coin

Enjin Coin (ENJ) is an Ethereum token that aims to “make it easy for individuals, businesses, and brands to use non-fungible tokens (NFTs).” ENJ is used to directly back the value of NFTs minted within the Enjin ecosystem.

How it works

The ENJ token is the platform’s native currency. When a new NFT is minted on the network, a chosen amount of ENJ is minted into the token. The locked funds give the newly built goods real world value, as each item can be at any point melted back into the underlying ENJ backing.

The Enjin platform also provides software developer kits (SDKs) that equip developers with tools to build their own NFTs on the Ethereum blockchain and enable their integration into the gaming ecosystems or apps of their choice. 

The platform also maintains its own native NFT marketplace and a wallet with NFT support.

Keep in mind

NFTs created with Enjin use a standard called ERC-1155, which was developed by Enjin’s team and is distinct from the more common ERC-721 standard pioneered by the NFT art project Cryptopunks. 

This content and any information contained therein is being provided to you for informational purposes only, does not constitute a recommendation by Coinbase to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges. Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content.