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Disclaimer: None of the information in this video should be
considered as advice. This video was made for entertainment
Enjin Coin is currently trading for $3.73. Putting them up nearly 20% on the week when the majority of other cryptos have fallen in the double-digit range and they’ve jumped up to that 54th overall position. And with a 3.2 billion market cap, plus the bullish sentiment with the metaverse, there is a lot more room to grow.
When I first mentioned them before the run-up and right around the time Zuckerburg announced META, Enjin was sitting in that 78th overall position and trading for $1.78.
If you were able to take advantage and pick up a ENJ at those prices, then congrats on making a good decision. And for more videos like that, make sure you hit that subscribe button and don’t forget to smash that like button.
But if you’re asking yourself, what is an Enjin Coin, why does it have value, what do experts predict the price will get to, etc. were gonna talk about all of that in today’s video so stick around.
Enjin Coin was launched in 2018 and is a bit different than other cryptos, in that it was designed for a specific purpose: to help the gaming community and to manage digital or virtual assets. It’s not trying to replace a currency which is a common misconception in the crypto world. There is a large number of people who believe that all cryptos are trying to replace countries fiat and that’s simply not the case.
Enjin Coin, or ENJ, is a cryptocurrency created and designed by a software company called Enjin. Enjin’s software allows users to create virtual goods like NFTs on the Ethereum blockchain network.
Developers can create virtual items inside of games or applications. These created items are given a corresponding value in ENJ, which makes it easy to trade and or sell them via Enjin’s marketplace.
Because each asset has a value in ENJ, which is a traded cryptocurrency, it also has a real-life value, too. Because there is a dollar amount attached to that ENJ.
Enjin is in two of the fastest-growing sub-sectors in the industry. It has features to supercharge the metaverse and Non-Fungible Token industries.
To supercharge this growth, the developers recently announced a $100 million fund that will help people accelerate this growth.
And listen, this isn’t just some random fad by some random companies no one has ever heard of. Gucci collaborated in June with Roblox to sell a collection of digital-only accessories, and that was back in June. Coca-Cola and Clinique have sold digital tokens pitched as a steppingstone to the metaverse.
Other companies talking up the metaverse include mega companies Microsoft and chipmaker Nvidia.
Here is what Richard Kerris vice president of Nvidia’s Omniverse platform had to say.
“We think there’s going to be lots of companies building virtual worlds and environments in the metaverse, in the same way there’s been lots of companies doing things on the World Wide Web,” “It’s important to be open and extensible, so you can teleport to different worlds whether it’s by one company or another company, the same way I go from one web page to another web page.”
He believes this will be the way we use the internet in the future. I say all of that to say this, I believe companies like Enjin is jus getting started. I believe they have the potential to morph into something much bigger. At only a 3.2 billion dollar market cap, with the growth and evolution I believe they will see, the potential growth is off the charts.
Just to ensure you get both sides of the coin, no pun intended. Here are some pros as well as cons to owning Enjin.