Has Enjin regained its luster yet?
What is the currency of Enjin?
Enjin Token (ENJ) is the digital currency of the Enjin platform dedicated to supporting easier creation of gaming content and economies based on virtual assets. The platform aims to consider the blockchain as the backbone of future gaming systems.
Hosted by the Singapore-based company of the same name, Enjin is proud to serve a community of more than 20 million players. The majority of them are grouped into about 250,000 individual communities built around specific games. Working with large communities made up of tech-minded users prompted the Enjin team to consider creating an Ethereum-based smart contract and token platform that would focus on the needs of both gamers and developers within these communities.
The team's mission statement is summarized in a document called the Enjin Coin Manifesto and its main points explain how the coin aims to change the status quo of the current gaming environment:
What is the Enjin platform?
Game developers are forced to create content that reflects the short-term interests of the publisher's contributors rather than what they or the players want. Franchising in the gaming industry has led to a proliferation of "endless streak" of content that focuses heavily on in-game microtransactions, loot boxes, and limited-time offers. Enjin Coin aims to make games less focused on what creators describe as a "drain" of players' money.
Freed from the pressures of publishers, developers will be able to focus on creativity and community demand. Enjin aims to integrate game development and blockchain and provide developers with the tools to create custom tokens and contracts on its platform.
Gamers and content providers often don't see eye to eye when it comes to gaming monetization models. ENJ developers describe the current game development ecosystem as being dominated by monopolies that continue to enforce their old monetization models that are said to antagonize users and stifle developers' creative freedom.
Enjin hopes to do away with pay-to-win game models and create an ecosystem of virtual worlds where users get rewards based on their skills, creativity, and talents. The ENJ team described this model as an "ethical monetization" of gaming.
The current model for distributing virtual rewards in games is expensive, prone to fraud, and limited to central servers. The Enjin platform aims to create multiple digital “realities” in which players are allowed to keep their rewards, characters, and assets across different game worlds located on a single platform.
Tokens and other game assets created in this way will also have real value and include support for keeping them in an immutable chain, completely resistant to server failures, cloud data leaks, hacking attacks, malicious actions of other players, etc.
