ENJ

ENJ is the native cryptocurrency of Enjin, a blockchain platform designed for creating, managing, and trading digital assets in gaming and related ecosystems. The token operates on the Ethereum blockchain as an ERC-20 token with a capped supply of 1,000,000,000 ENJ.

Role and mechanism. ENJ is intended to back the value of digital assets minted on the Enjin platform. When developers create an item on Enjin, a portion of ENJ can be locked inside the asset’s smart contract, providing a reserve value. Buyers can acquire ENJ-backed assets, and under defined rules the embedded ENJ can be redeemed or burned to release value back into circulation. This backing aims to give digital items outside the core blockchain a tangible value and potential for redemption.

Technology and ecosystem. Enjin supports the ERC-1155 multi-token standard, allowing a single contract to represent both fungible and non-fungible items. The platform provides developer tools, including software development kits for Unity and other engines, as well as a wallet for storing ENJ-backed assets. Enjin also maintains a blockchain explorer and other services to help developers and users interact with minted items and transactions.

History. Enjin was founded by Maxim Blagov and Witek Radomski. The project traces its origins to a 2009 gaming community toolset and launched its ENJ ICO in 2017, raising a notable amount to fund development. Since then, Enjin has expanded its toolkit and integrations to support a broad range of game developers and digital collectibles projects.

Use cases. ENJ-backed assets enable ownership, trading, and monetization of in-game items and digital collectibles across supported games and platforms, with the aim of creating cross-game economies and verifiable digital ownership.