Enjin Coin
Crypto Overview
Understanding the Intended Utility
Enjin Coin (ENJ) is designed as the native token of the Enjin ecosystem, primarily focused on gaming and NFT infrastructure. The token's main purpose is to back the value of NFTs created within the Enjin ecosystem, where each NFT contains ENJ tokens locked within them, providing intrinsic value.
The business model revolves around providing tools and infrastructure for creating, managing, and trading blockchain gaming assets. Enjin's ecosystem includes a wallet, marketplace, and development platform for gaming-related digital assets.
Actual Utility Assessment
The platform demonstrates significant real-world adoption through partnerships with major companies like Microsoft, Samsung, and BMW. The Enjin ecosystem currently supports over 2.1 billion digital assets, with active usage in gaming and enterprise applications.
Developer activity remains strong, with continuous updates to the platform's infrastructure. The recent launch of Enjin's Polkadot-based parachain, Efinity, demonstrates ongoing technical development.
Token Distribution and Founder Analysis
Initial token distribution allocated 20% to the team and advisors, with a two-year vesting period that has already concluded. The remaining 80% was distributed through a public ICO. Current token distribution shows a relatively decentralized holding pattern, with no concerning concentration among founders.
The development team maintains transparent communication and has consistently delivered on roadmap objectives. The project demonstrates a balanced approach between marketing and development efforts, with significant resources allocated to technical advancement.
Additional Sharia Considerations
The platform's core functionality of asset tokenization and gaming infrastructure doesn't involve interest-based mechanisms. The gaming assets created through Enjin's platform are primarily used for non-gambling gaming applications, focusing on collectibles and in-game items.
Revenue is generated through platform fees and asset creation costs, which represent legitimate service charges rather than interest-based income.
Crypto Impact
To assign a comfort level investing in Enjin Coin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Enjin Coin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.