Enjin (a clever pun on “Engine”), which powers the ENJ currency, is one of the firms attempting to seize control of the gaming area opened up by crypto-networks and Non-Fungible Tokens (NFTs). These utilize the improvements gained by mass multi-player online games and add a touch of cryptocurrency magic, allowing those who play the game to make money as well. If you ask me, it’s a gamer’s dream come true.
Enjin allows you to produce NFTs and then sell them. The Enjin platform, a social game platform, allows for the safekeeping of NFTs in vaults. Following that, the developers may utilize the platform to create in-game accessories and items that can be purchased, sold, traded, or used within the virtual world. Developers have been provided Program Development Kits (SDKs) so that they may individually add their own distinctive touch to the software.
There was a time when it appeared that the Enjin currency was no longer following in the footsteps of Bitcoin. But now the price has started to move just like BTC. It is well known that the prices of altcoins are directly related to those of Bitcoin. As a result, if Bitcoin falls in value, the entire market suffers. However, gaming tokens can survive by being seen from a different perspective. This fortuitous deviation might be explained by a variety of circumstances. One of the explanations might be the recent approval granted to the metaverse by Facebook’s rebranding as Meta. Creating a virtual interactive gaming network is one path to the metaverse. However, not all games are made equal.
Price Movement – Enjin (ENJ)
At the time of writing, the Enjin coin was worth $2.97 and had a trading volume of $1.3 billion. It has typically shown a positive gain in value, rising from $0.1185 with a trading volume of $3.41 million to its current value. The Enjin coin’s greatest value was $3.45, however, it fell after market corrections. Another reason for the slowed growth is the Bitcoin bull run in April when the market plummeted and many other cryptocurrencies suffered as a result. The recent gain in value is likewise questionable, as price surges imply short-term selling of a certain item.