Enjin Coin (ENJ) is a digital asset that aims to provide a decentralized platform for gaming products. It is a project of Enjin, a company that offers an ecosystem of interconnected, blockchain-based gaming products. Enjin Coin is an ERC-20 token that is used to back the digital assets issued using its platform, meaning that items can be exchanged with real-world value. Every asset minted with the Enjin Platform contains ENJ, a minting resource which is locked inside non-fungible tokens (NFTs) and removed from circulation. This process infuses them with a reserve value, ensures their transparency and scarcity, gives them instant liquidity, and provides utility in games and apps.

Enjin Coin operates on the Ethereum blockchain and uses smart contracts to facilitate transactions. Game developers can tokenize in-game items on the Ethereum blockchain using Enjin Coin. These tokens can be exchanged on the Enjin Marketplace or exchanged for their backing ENJ at any time. As more custom tokens are minted, more ENJ is removed from the ecosystem, thus making it scarcer. Enjin's "melting" functionality allows users to eliminate their blockchain assets at any time to retrieve the ENJ value from within.

Enjin Coin aims to enhance the gaming industry by allowing game developers to tokenize in-game items. This process gives these items real-world value that can be exchanged. It also aims to provide a variety of benefits to creators and users by infusing them with a reserve value, ensuring their transparency and scarcity, giving them instant liquidity, and providing utility in games and apps. Furthermore, Enjin Coin can be used to back the value of blockchain assets like non-fungible tokens (NFTs), which are unique digital assets that can represent various things like gaming items, digital artwork, sports collectibles, and even physical assets.

Enjin Coin was first announced in July 2017 and launched on the Ethereum mainnet in June 2018. It is a project of Enjin, a company that was founded in 2009 and has roots in the gaming industry. The company’s first product, a gaming community platform called the Enjin Network, grew to 20 million users over the course of a decade. In 2017, following an initial coin offering (ICO), Enjin established itself as a blockchain ecosystem developer, building a suite of software products that enable anyone to easily mint, manage, exchange, distribute, and integrate blockchain assets. Enjin’s co-founder Witek Radomski wrote the code for one of the first ever non-fungible tokens (NFTs) and is also the co-author of the ERC-1155 Ethereum token standard.

Enjin provides a platform that enables developers to create, distribute, and integrate unique digital assets into their games and applications. The Enjin ecosystem is powered by two core components: the Enjin Relaychain and Matrixchains. These components facilitate the creation, distribution, and integration of NFTs. The Enjin Coin (ENJ) is used to infuse digital assets like NFTs, giving them intrinsic value that can be retrieved at any time. Enjin also provides a mobile wallet for managing NFTs and digital currencies, and a marketplace for trading NFTs. Enjin is involved in various gaming and metaverse projects, aiming to explore the potential of immersive experiences. It also participates in esports and other experiences, such as virtual concerts and live events, leveraging the potential of NFTs and blockchain technology. Enjin's collaborations with various industry participants, along with its range of resources and support for NFT projects, highlight its participation in the blockchain gaming and NFT ecosystem.

Enjin Coin (ENJ) is a crucial part of the Enjin platform and gaming ecosystem. As an ERC-20 compatible token, ENJ can be transmitted and received using an Ethereum wallet. It serves as the native token of the Enjin ecosystem, powering various operations including engaging with non-fungible tokens (NFTs) using the various products provided by Enjin. ENJ aims to integrate with multiple gaming platforms, allowing gamers to store unique game items such as characters or accessories in the form of bespoke tokens, which can then be exchanged for ENJ when desired. This process is facilitated through the Enjin wallet, enabling gamers to access various partner gaming platforms, keep track of their tokens or collectibles, and exchange these digital assets for ENJ at their convenience. ENJ is also used in the creation of NFTs on the Enjin platform, with each in-game item associated with a certain amount of ENJ. This allows gamers to exchange NFTs, coins, and other items outside of the gaming environment with a high level of safety.

Enjin provides software development kits (SDKs) for creating digital assets and integrating them into applications and games. The assets created with Enjin are customizable and recorded on a smart contract, providing features associated with cryptocurrency such as security, cost, and speed. The native Enjin Coin (ENJ), an ERC-20 standard asset, is associated with the assets created on the Enjin platform. The platform also uses smart wallets for the exchange of assets among community members and gamers. Enjin's primary functionality is to provide the necessary capabilities for creating and managing virtual assets. Developers have the option to create their own cryptocurrencies supported by Enjin Coin, which could potentially aid in the integration of crypto in the gaming sector. The platform strives to develop a culture of cooperation, acknowledgment, and enthusiasm, with the intention of providing players and content creators with a degree of control over in-game assets.

The Enjin Wallet is a component of the Enjin ecosystem, with the intention to improve user experience and operational security. It serves as an automated signature generator with a visual user interface, making it user-friendly even for individuals with basic development knowledge. This feature is particularly applicable for game developers as it allows them to distribute a large number of Non-Fungible Tokens (NFTs) without having to send each one manually. This not only simplifies the process but also enables players to receive their assets instantly. The Enjin Wallet also aims to enhance security by allowing companies to rigorously segment access to their signature generators, with the intention of managing unauthorized asset removal. The Enjin Wallet also supports Ethereum Name Service (ENS) domains, with the intention of improving user experience by eliminating the need to copy or type long, complicated addresses. It also allows users to send and melt up to 100 distinct fungible and non-fungible assets in one transaction, with the aim to streamline transactions and manage transaction requirements.

Enjin strives to provide a solution for integrating blockchain technology into gaming platforms and game development tools. It offers a functional, scalable GraphQL API and a user-friendly visual interface that allows developers to create and manage Non-Fungible Tokens (NFTs) for their games. Developers have the ability to mint unique collectibles or custom coins in minutes, and these assets can be integrated into games, apps, or websites. Enjin also provides Software Development Kits (SDKs) that aim to enable integration with popular game development platforms. In addition, Enjin's platform supports wallet linking, enabling users to link their blockchain wallet to a game or app. This integration process is designed to be flexible and efficient, with documentation available to guide developers along the way.

Enjin's platform enables game developers to create, manage, and engage with in-game items as NFTs, which are unique, indivisible tokens stored on a blockchain. This gives players genuine ownership of their in-game items, backed by the transparency and immutability of blockchain technology. The scarcity and uniqueness conferred by NFTs contribute to the perceived worth of virtual possessions. NFTs provide a standardized format for representing digital assets and enable interoperability across different games and platforms. This allows players to use their NFTs in various gaming environments, fostering a seamless experience as they move between virtual worlds. The introduction of NFTs transforms in-game economies into player-driven ecosystems, where players can engage with NFTs on decentralized marketplaces.

Enjin has introduced the Enjin Blockchain, a platform specifically designed for NFTs and digital assets. This platform integrates core functions like NFT creation, usage, and transfer directly into its underlying code, reducing the reliance on smart contracts. This approach aims to be compatible with other ecosystems and provides scalability and cost management features. Enjin Blockchain also introduces unique features such as “Fuel Tanks,” which enable developers to absorb transaction fees, and “Discrete Accounts” that allow users to interact with Enjin projects without requiring wallet software. Efinity, initially a Polkadot parachain, has expanded its presence to the Enjin Blockchain, establishing Matrixchain as the primary platform for creating NFTs and other digital items. Enjin is actively working on Matrixchains to cater to diverse enterprise and community requirements.