ENJbacked
ENJbacked refers to digital assets that carry a backing reserve of Enjin Coin (ENJ) within the Enjin ecosystem. In ENJ-backed assets, ENJ tokens are locked in a smart contract attached to the asset, providing an intrinsic value reserve beyond market trading prices.
Mechanism and scope: When an asset is minted on the Enjin platform, a defined amount of ENJ
Applications and examples: ENJbacked assets are commonly used for gaming items, digital collectibles, and other virtual
Risks and considerations: ENJ backing ties asset value to ENJ’s market price and to the contract’s terms.