ENJs

ENJ, short for Enjin Coin, is a cryptocurrency token designed to back the value of blockchain assets created on the Enjin platform. It is an ERC-20 token on the Ethereum blockchain, launched by Enjin in 2017 to support a blockchain-based gaming and digital asset ecosystem.

The core idea behind ENJ is that it provides a value backing for minted digital assets. When a developer or user mints an asset on the Enjin Platform, ENJ can be locked into the asset’s smart contract. The process embeds intrinsic value in the asset; if the asset is burned or destroyed, the ENJ can be released back to the holder. This mechanism is intended to give digital items, such as in-game items or NFTs, a tangible value linked to ENJ.

Within the Enjin ecosystem, ENJ is used as a store of value and to pay for platform services, with the goal of encouraging creation and trade of digital assets. The platform offers tools for creating and managing non-fungible and semi-fungible assets, including support for ERC-1155 tokens, which enables efficient handling of multiple asset types and quantities. ENJ is tradable on major cryptocurrency exchanges and can be stored in the Enjin Wallet.

Supply-wise, ENJ has a capped supply of one billion tokens. The token’s economics are tied to activity within the Enjin ecosystem: as assets backed by ENJ are minted or burned, the circulating supply dynamics can influence market behavior and asset value.

Related topics include the Enjin platform, Enjin Wallet, ERC-1155, and NFTs.