What does Enjin Coin do?
Enjin Coin (CRYPTO:ENJ) takes center stage as a cryptocurrency powering the Enjin platform, a robust ecosystem that equips developers with the tools to create, manage, distribute, and integrate blockchain-based assets. Serving as a utility token, ENJ facilitates payments for the array of services offered by the Enjin platform.
One of ENJ's essential functions is backing and creating Enjin-powered assets like in-game items and collectibles. When developers generate such assets, they lock up ENJ in the Enjin smart contract, ensuring these assets hold real value. ENJ also plays a crucial role in transaction payments on the platform, covering tasks like minting new assets and their distribution to users.
The Enjin platform serves as the breeding ground for diverse projects, including blockchain games, non-fungible tokens (NFTs), and decentralized finance (DeFi) applications. By simplifying asset management, boosting blockchain gaming and NFT development, and contributing to a more open and equitable financial system, Enjin aspires to have a significant impact on the blockchain gaming and DeFi landscapes. With a solid team and a thriving community, Enjin is poised to make waves in these evolving ecosystems.