Enjin Coin is one of the 2000+ cryptocurrencies floating around on CoinMarketCap right now. But for a normal crypto user in this space, what is the Enjin’s Coin’s main appeal? In order to get an insight regarding this, BlockPublisher got in touch with the co-founder and chief executive officer of the platform, Maxim Blagov.
Talking about Enjin Coin’s appeal to a normal crypto user, Maxim said:
Maxim: “Enjin Coin is much more than just a cryptocurrency. While it can be used as a method of payment, it is primarily used to mint crypto assets. The core value Enjin Coin provides is true item ownership—the ability for users to truly own their assets. Blockchain-based items can be owned forever, used across multiple platforms, and can never be taken away from their owners. Users of items minted with ENJ truly own them and have the freedom to share, trade, sell, hold them forever, or event “melt” them down to retrieve the ENJ from within.
When Enjin Coin is used to create items, that ENJ is locked in those items and taken out of circulation. So, as more ENJ is used, less and less will be available on the market. This means Enjin Coin is not just a deflationary currency, but a resource/minting material that increases in scarcity in direct correlation with its adoption.”
Further talking about the target audience of the platform, Maxim stated:
Maxim: “Unlike your typical cryptocurrency, the core purpose and function of Enjin Coin (ENJ) is as a material that can be used by developers, business people, and entrepreneurs to create blockchain assets. Fueled by ENJ, our blockchain tools and solutions enable exploration of endless use-cases for blockchain technology. Advanced assets created with ENJ can be used or a multitude of purposes: by games as weapons, characters, or vehicles; by retailers as collectibles, memberships, or vouchers; and by any business that can benefit from rewarding their customers or employees—to name a few.
The potential use cases for blockchain items are not limited to any specific industry. That said, our first target is the gaming market, which has a gross revenue of $120 billion annually, followed by the $24-trillion-dollar retail industry. Ultimately, we believe the blockchain is the best way to manage all forms of asset ownership in a transparent, secure way and that every customer-facing business can benefit from using this powerful form of digital asset. By offering tangible blockchain-based assets to users and customers, companies across industries can create stronger communities and foster more meaningful relationships with their patrons.”
Enjin Coin employs the revolutionary technology of blockchain in the niche of gaming. A good use-case of this revolutionary technology is presented forward by Enjin as the gaming community of the world can surely get some benefits out of this tech. Game development is also made easier on this platform for the developers. It will be interesting to see how Enjin Coin grows from here on.
You can read more about the project here.