Enjin: made for gaming
Examining the Enjin ecosystem and its features for gamers and devs.
If you’re more of a crypto trader than a crypto gamer, you’ve probably never heard of Enjin. It’s a token that stays far from the top 10, with a market cap of around $25M. Why would Gameunculus cover this, after educating you on such huge cryptocurrencies and platforms as EOS or TRON? Cause Enjin, unlike those two, was created by gamers, for gamers. Its website reads: “We're Enjin. Our mission is to bring fairness and purpose to gaming”. Hi there, Enjin, and good luck with that! Let’s check what’s been achieved on this mission so far.
Enjin in brief
Enjin is an information technology company based in Singapore. It began with a social media service where every player could create their own Minecraft, guild or clan website for free. Since its foundation in 2009 (and for a long time), it was a just that, and had no connections to crypto. Today, it’s the world’s largest social gaming platform, with over 20M users, and provides various other services by integrating forums, chats, mobile apps, markets for in-game items, and much more for you to customize your site. It supports major games like World of Warcraft, Minecraft, World of Tanks, Battlefield and many others. In addition to that, the company has developed multiple side-products, some of them blockchain-based. That’s why the Enjin ecosystem is now fueled by Enjin Coin (ENJ), an Ethereum-based cryptocurrency.
What makes Enjin special?
Briefly speaking, Enjin has 2 main features that make it stand out of the crowd as an important space for gamers:
First, Enjin Coin, which is a universal payment for all the games that join the Enjin Multiverse. Enjin’s plan is to expand its coin to the whole gaming world, bringing mass adoption to crypto, and convenience to players, who won’t have to buy different currencies to play different games.
The second feature is the ERC-1155 token standard created by the Enjin team. It’s got some significant improvements over ERC-721: it can be transferred in batches (which reduces gas fees), and the items encoded in ERC-1155 can be used in multiple games. Take your favourite gun with you from one game to another – that’s what ERC-1155 is about.
Enjin’s figures and characters
Take a look at Enjin stats at press time (check updated info here):
- Market cap: $26,049,004
- Volume (24h): $648,503
- Price: $0,034185
- Circulating Supply: 762,006,465 ENJ
- Total Supply: 1,000,000,000 ENJ
Enjin Coin started 2018 peaking at $0.48, but after the cryptomarket crashes, it is now trading for $0.035. The total supply of ENJ is 1B, with 762M in circulation. When users create ERC-1155, the number of circulating tokens decreases by the corresponding amount of ENJ, which increases the value of individual tokens. For example, when you create a sword which is backed by 5 ENJ, those 5 ENJ are taken out of the circulating supply. When you destroy the sword, 5 ENJ go back to the circulating supply.
These are Enjin’s proud creators:
Maxim Blagov, Co-Founder, Chief Executive Officer. Has 18 years of expertise in video gaming creation and management, UX design and strategy development for large interactive applications.
Witek Radomski, Co-Founder, Chief Technical Officer. Leads Enjin Coin development, implementation and integration. Creates coloring books in his free time (has no connection to crypto, but we couldn’t not mention that – so sweet!).
Let’s take a closer look at multiple Enjin products and find out if any of them are useful for blockchain gaming (spoiler: they are).
“The Ethereum-based gaming cryptocurrency”, as the devs call it, successfully finished its pre-sale in September 2017, raking in $12M from 4,200 contributors. A crowdsale in October 2017 brought even more: 75,041 ETH ($23M in those blessed days when 1 ETH was worth $300).
Enjin Coin is ambitious enough to refer to itself as the “Ethereum of gaming” and plans to “fundamentally disrupt the gaming industry”. Enjin Coin is a universal payment, meaning it works in all the games of the Enjin Multiverse. Literally every in-game item can be tokenized as an ENJ-backed ERC-1155: armors and weapons, characters, achievements, rewards, etc, giving them real value. This means that every ERC-1155 has a price in Enjin Coin, and you can turn any item back into ENJ by destroying it. If you don’t like the item, or it’s not cool enough for you, you don’t have to hunt down somebody who’ll buy it from you; just “melt” it and get your ENJ back!
This Ethereum token standard was created by Enjin. We won’t call it a revolution, but it did bring lots of useful features to crypto gaming, so it might be called an evolution instead. A couple of months ago, Gameunculus wrote an article about different tokens in gaming, and it’s still there for you to read and get smarter. Too busy to read? We can summarize it for you:
ERC-1155 is a non-fungible (non-interchangeable) token, which can be used to store in-game items or characters on blockchain. Its main differences and advantages in comparison to ERC-721 are:
Multiple items can be stored in one contract and transferred all at a time; it’s fast, comfortable and cheap, cause you pay gas fees only once while sending a batch of items. Remember, we’re still on Ethereum, and the gas prices are disgusting. ERC-1155 are Enjin Multiverse tokens, so the same item can be used in many games. That sword sucks in the particular game? Move it to another one! It might suck there too, but the opportunity is cool anyway.
This project allows anyone to create their own ERC-1155 (to “mint” it). Wanna have a unique souvenir on blockchain? Or create items for your own game? You can do it with Enjin Mintshop. Just fill in the form, pay some $ and wait 7 days. All minted ERC-1155 are supported by the Enjin Wallet, cross-platform compatible and backed by ENJ. Items can be traded or destroyed (“melted”), and in this case the amount of ENJ will be sent back to your wallet.
“The world’s most secure mobile cryptocurrency wallet” – these guys know how to brag, right? Well, Enjin Wallet supports ERC-20 tokens and more importantly, ERC-721 and ERC-1155 tokens. Yes, you can store your kitties, cuties, mons, planets, and whatever collectible you like, in one place, admire them all at once, and send them to anyone who’s worthy.
It’s a fast and simple blockchain explorer, supporting Bitcoin, Ethereum, Litecoin, ERC-721 and ERC-1155 collectibles. A good opportunity for control freaks who are fond of monitoring transactions and exploring blockchain. No ads – just imagine how much money they declined to earn!
Enjin Multiverse full of games
The Enjin Multiverse was born in August 2018 when 6 game devs signed up to create something new and beneficial. The idea was rather simple: to make a collection of games with a single marketplace, where items can be moved from one game to another. Not long after, the concept was adopted by more game devs, and the Multiverse has since grown and matured. Most of the games are in different stages of development, so we can’t fully appreciate the concept value yet. We hope it won’t die on the vine.
What are the most noticeable games in the Enjin Multiverse?
A fantasy RPG that got $55k on Kickstarter. AAA graphics, PvP fights and an extremely ugly AI companion called Ooogy.
Another fantasy PvP multiplayer with 3D animated evolvable characters and dynamic battle system. War of Crypto has recently finished its early access sale and revealed the plans for the future.
A new race of Mau cat-people is trying to survive and collect as much precious cat mint as possible. The devs have given away loads of Mech boxes with weapons, armors and characters – sorry for not sharing the info, Gameunculus wanted to keep them all for himself!
A “hyper-casual arcade game” by Titan Flight Studios, which is worth noting cause it’s already available on AppStore and GooglePlay. Throw the ball against the wall, get points and earn rewards in ERC-1155 – it’s that simple.
A street fighter where your character’s skills and equipment are diluted with a portion of randomness and luck, cause all the fights are based on rolling dice. Gameunculus wrote about CryptoFights’ pre-sale here.
A “dark sci-fi adventure game” where you’ll need to solve puzzles while exploring abandoned corners of the galaxy. Crypto puzzles will unlock rewards (in crypto, obviously), and the main puzzle will be encoded with 20 BTC.
To the moon?
Sorry, “moon” might be the wrong word. To the Enjin Multiverse of course! Enjin did well last year, with all those innovations and big partnerships—for example, with Ubisoft, Unity and NRG Esports—but what’s next? Only time will tell if the ambitious Multiverse project rises high and brings mass adoption or not.
And while we’re waiting patiently for the Enjin games to launch, Enjin is introducing more upcoming features. Their collaboration with Kyber Network, Bancor Network, and Changelly will soon allow Enjin Wallet users to seamlessly trade between nearly 200 tokens.
What do you think of Enjin, guys? Will it become the world’s first and only gaming currency one day? Come and share your thoughts on Twitter or Telegram, and don’t forget to name your most anticipated Enjin Multiverse game!