The Enjin Coin price has collapsed to the lowest level since October 28th as the cryptocurrency sell-off accelerates. The ENJ...
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Enjin Coin
What is Enjin Coin?
Enjin coin is an Ethereum based Crypto that supports non-fungible TOKENS (NFTs). The platform has one of a kind digital assets representing ownership and created on the Enjin gaming platform.
Enjin coin was launched on Ethereum in June 2018 by co-founders Witek Radomski and Maxim Blagov.
The platform’s native cryptocurrency is ENJ. Every time a new NFT is minted on the network, some ENJ is created with the token. In addition, the enjin platform offers software developer kits (SDKs), providing developers with the tools to build their NFTs on Ethereum and to merge them with applications of their choice or gaming ecosystems.
The Enjin token supply is set at one billion ENJ, a fixed amount.
Is Enjin Coin a Good Investment?
Just like all volatile altcoins, Enjin is a very risky investment. Investors who purchased Enjin Coin before 2021 are up 10x on the investment, while those who purchased the coin around its peak are down 50% or more.
However, as of January 7, 2022, the Enjin coin was valued at $2.41 and being a metaverse token that is popular and has good utility, ENJ may attract investors. It is ranked 5th among metaverse tokens by market capitalisation.
That said, it’s essential to do your research and only invest what you can afford to lose.
