Enjin

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Enjin is a Singapore-based technology company focused on the video game industry and digital asset tokenization, supporting gamers and game developers with community management platforms and blockchain game development tools.

History[edit]

Enjin was founded in 2009 by Maxim Blagov and Witek Radomski. That same year, they launched the Enjin Network (Enjin.com), a gaming community platform providing website and forum templates and hosting services for gamers.

In 2012, Enjin launched their DonationCraft plugin for Minecraft, allowing in-game economies to be monetized by server owners[1].

In 2016, Enjin released a mobile app of their community management platform on both iOS and Android.

In 2017, Enjin made the move into blockchain and cryptocurrency by launching Enjin Coin (ENJ), an ERC-20 cryptocurrency aimed at improving the games market through the implementation of blockchain technology. Since the conclusion of their ICO, Enjin has expanded their blockchain offering from a cryptocurrency into a larger blockchain ecosystem, including an optimized token standard, cryptocurrency wallet, blockchain explorer, software development kits, and scaling mechanisms.

The Enjin Network[edit]

Enjin.com provides a platform for gamers to set up clan and guild websites, create and moderate forums, and run and monetize servers. Fans of popular games such as World of Warcraft, Star Citizen, CSGO, Overwatch, and Minecraft all utilize their services, totaling more than 20 million total registered users across over 250,000 gaming communities[2].

Enjin Blockchain Ecosytem[edit]

In 2017, Enjin published the white paper of ERC-20 cryptocurrency Enjin Coin (ENJ)[3] and launched it on the Ethereum mainnet in November 2017. Enjin Coin was funded through an ICO, raising over 75,041 Ether from 18,506 participants, worth around US$18.9M at the conclusion of the ICO in October 2017. [4]

Enjin Coin supports and backs the tokenization of assets through the ERC-1155 token standard, giving them the benefits of existing on the blockchain. These benefits (compared to traditional gaming assets) include true ownership, transparency of supply, verifiable history, a minimum reserve value (and hyperinflation deterrent) in the form of cryptocurrency backing, and interoperability across multiple games by different developers. Assets being created (or minted) as tokens on the blockchain means that players own all the assets on their individual blockchain address, rather than only accessing them from servers owned by game publishers.

ENJ-backed blockchain assets can represent everything from video game items, characters, or subscriptions to non-game assets like digital art, tickets, trophies, vouchers, and customer loyalty programs.

The ERC-1155 token standard was developed in 2018 to provide an optimized token framework for gaming, and allow the creation of both fungible and non-fungible tokens within a single smart contract, to prevent games having to integrate multiple different token standards with limited interoperability. Soon after Enjin Coin was launched, the congestion caused by CryptoKitties on the Ethereum network[5] led Enjin CTO Witek Radomski to believe that the existing Ethereum token standards for non-fungible items could be improved[6], relieving pressure on the Ethereum network and improving the experience of gamers.

Radomski co-authored the ERC-1155 standard [7], able to create both fungible and non-fungible tokens and multiple asset types within one smart contract. ERC-1155 was officially approved as an Ethereum token standard in June 2019 [8]

Products and services within the Enjin blockchain ecosystem include:

  • Enjin Wallet (multi-blockchain cryptocurrency and blockchain asset wallet, featuring the trading and sending of ERC-1155 assets) [9]
  • EnjinX multi-blockchain and blockchain asset explorer [10]
  • Enjin Blockchain SDK for Unity (blockchain integration for the Unity game engine) [11]
  • Enjin Platform (blockchain integration via GraphQL) [12]
  • Enjin Beam (QR-based ERC-1155 asset distribution service) [13]
  • Enjin Mintshop (minting service for ERC-1155 blockchain assets) [14]
  • Enjin Minecraft Plugin (integration of ERC-1155 blockchain assets into Java Minecraft servers) [15]

The Enjin Multiverse[edit]

Due to the open and transparent nature of the Ethereum blockchain, assets from one game can be read from the blockchain and integrated into other games by different developers (who will have to render and interpret it to fit into their game). This led Enjin and several of the game studios adopting their technology to create the Enjin Multiverse [16], working together to integrate shared blockchain assets across their games and benefit from the interoperability of blockchain, enabling them to co-create valued assets or leverage each other’s audiences.

The Enjin Multiverse has been likened to Ready Player One's Oasis [17], but differs in that assets on the blockchain are owned by the players, rather than accessed from a centralized server. Category:Ethereum Category:Blockchain Category:Software Category:Video Games

Enjin[edit]

This article "Enjin" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Enjin. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.