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 applications. The token serves multiple purposes: it acts as a minting resource for creating NFTs on the Enjin platform, backs digital assets with intrinsic value, and facilitates trading of gaming items and NFTs within the ecosystem.
Platform Development and Real Usage
Enjin has developed significant infrastructure including the Enjin Platform, Marketplace, Wallet, and Beam (QR code distribution system). The project has established partnerships with Microsoft, Samsung, and various game developers. In 2023, Enjin rebranded as 'Enjin Blockchain' and launched their own network moving away from Ethereum, focusing on NFT and gaming capabilities.
Token Distribution and Governance
Initial token distribution included a public sale of 80% of tokens, with 10% reserved for the company and 10% for team members and advisors. The project maintains transparency in its operations and development progress through regular updates and public documentation.
Technology and Revenue Model
The platform generates revenue through platform fees, marketplace transactions, and enterprise solutions. The core technology revolves around the 'melting' mechanism where NFTs can be destroyed to recover the underlying ENJ used to create them, providing a guaranteed minimum value backed by the token.
Ecosystem Activities
The Enjin ecosystem focuses on legitimate gaming and digital asset applications. There are no inherent interest-bearing mechanisms or gambling elements in the core protocol. The platform is primarily used for creating, trading, and managing gaming assets and NFTs.
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.