Enjin operates on the Ethereum blockchain and by means of blockchain technology, it gives developers the capacity to create and manage in-game items while reducing fees and tackling the rampant fraud problem the gaming industry faced in the transfer of virtual goods and collectables.

Smart contracts record each minted asset and its respective desired platform and, by doing so, it infuses the item with all of crypto’s current advantages such as security and transaction speed.

The Inner Workings of Enjin

With Enjin, users are free to create, destroy, manage, and/or store virtual goods for games which can range from tokens which represent custom or unique game items to actual in-game currency.

To so, five steps need to be completed:

1. Acquisition: in which developers buy ENJ

2. Minting: in which developers design whichever in-game items they envisioned. To do, they must user ENJ

3. Gaming: in which players also buy tokens that can be used for several in-game functions

4. Trading: in which players can trade between themselves

5. Melting: in which a player is free to sell his tokens for ENJ

The Enjin Smart Wallet

Enjin developed its very own native wallet. In its smart wallet, players can store and/or trade items, assess their inventory, connect to multiple different games, make transactions with other players outside their game, and even sell the digital goods they earned or bought for ENJ.

The History Behind Enjin

Enjin is the vision of Maxim Blagov and Witek Radomsky. The project launched in 2017 and in that very same year, its initial coin offering (or ICO) raised an estimate $18 million US Dollars. The platform went live the following year.