Enjin Coin (ENJ) is a deflationary token and resource that can be used by developers, entrepreneurs, organizations, and individuals to create (“mint”) powerful ERC-1155 tokens for the gaming, entertainment, and retail markets.
As a successful gaming company, Enjin amassed 20 million users on their social platform over the last decade. Since expanding their products and offerings into the blockchain space in 2017, Enjin has since announced 29 games that have adopted the Enjin Platform, a robust suite of blockchain tools that can be used by developers to tokenize in-game currency, characters, weapons, skins, accessories, real estate, and gaming servers.
All blockchain items created with Enjin’s platform contain ENJ, which is removed from circulation upon minting. Users can also choose to melt down their blockchain items to retrieve the Enjin Coin from within, thereby placing the ENJ back into the market.