For millions of people around the world, video games are as important as life itself. Enjin is looking to innovate the video gaming like never seen before. Investors who believe in this innovation now have a chance to invest in Enjin (ENJ) within their Crypto IRA retirement accounts at iTrustCapital.
Understanding Enjin (ENJ)
Enjin is an ecosystem that is built to streamline the integration of blockchain applications within its network. Its blockchain infrastructure favors developers and businesses to develop applications without the requirements of learning complex programming languages.
Enjin primarily focuses on the gaming industry and enables studios to integrate digital assets into their gaming ecosystem. Currently, the blockchain platform claims to support 30+ gaming firms and thousands of gaming communities globally.
The Founding Team
Enjin was launched in 2009 as an online gaming community creation platform that provided gamers and developers an extensive ecosystem. Founders Maxim Blagov and Witek Radomski recognized the potential for blockchain gaming with the firm launching an ICO that generated $18.9 million in 2017.
The blockchain platform has also inked partnerships with gaming publishers like Unity and PC Gamer in recent years.
One of the successes of Enjin is that its ecosystem provides gamers and publishers earning opportunities. For example, gamers can build up characters within a game and sell or trade such characters in a dedicated marketplace for rewards.
Developers can also expand monetization options by adding assets that users can purchase to improve their gaming experience. This ensures that developers can earn more for their in-game assets and added gaming features.
Enjin has also placed added focus on NFTs (non-fungible) tokens within the gaming sector. NFTs can be minted and sold within the Enjin blockchain ecosystem. In addition, it recently collaborated with Ludena Protocol to boost NFT awareness in South Korea.
Efinity by Enjin
Efinity is a new standalone substrate based (Polkadot) blockchain. This will allow the Enjin network to scale and handle thousands of transactions for low fees, while having its own sovereign ecosystem / chain.
It also streamlines the entire process for gamers, creators, and enterprises and provides new options like staking and NFTs within the Enjin ecosystem.
ENJ token is an ERC-20 token that serves as the utility token for the Enjin network. It is designed to provide value for Enjin-based blockchain assets and was launched in 2017. A total supply of 1 billion ENJ will be minted on the blockchain.
ENJ is also deflationary since anytime a custom asset is created, the corresponding amount of ENJ is removed from circulation. This helps provide a source of buy pressure and reduces the supply of the token.
This article is for information purposes only. It does not constitute investment advice in any way. It does not constitute an offer to sell or a solicitation of an offer to buy or sell any cryptocurrency or security or to participate in any investment strategy.
iTrustCapital is a cryptocurrency IRA software platform. It is not an exchange, funding portal, custodian, trust company, licensed broker, dealer, broker-dealer, investment advisor, investment manager, or adviser in the United States or elsewhere. iTrustCapital is not affiliated with and does not endorse any particular cryptocurrency, precious metal, or investment strategy.
Cryptocurrencies are a speculative investment with risk of loss. Precious metals are a speculative investment with risk of loss. Cryptocurrency is not legal tender backed by the United States government, nor is it subject to Federal Deposit Insurance Corporation (“FDIC”) insurance or protections. Clients do not receive a choice of custody partner. The self-directed purchase and sale of cryptocurrency through a cryptocurrency IRA have not been endorsed by the IRS or any regulatory agency. Historical performance is no guarantee of future results.
Some taxes and conditions may apply depending on the type of IRA account. Investors assume the risk of all purchase and sale decisions. iTrustCapital makes no guarantee or representation regarding investors’ ability to profit from any transaction or the tax implications of any transaction. iTrustCapital does not provide legal, investment or tax advice. Consult a qualified legal, investment, or tax professional.
iTrustCapital makes no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) or omissions from the information contained herein. iTrustCapital disclaims any and all liability to any party for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this information, which is provided as is, without warranties.
© 2023 ITC2.0, Inc.
All rights reserved.