What is Enjin Coin?

Enjin Coin, founded in 2009 by Maxim Blagov and Witek Radomski, is the native token of the Enjin ecosystem, which shifted its focus to blockchain technology in 2017. Enjin operates on a Substrate-based Proof-of-Stake blockchain, optimized for Non-Fungible Tokens (NFTs) and digital assets, and supports transaction fees, governance, and staking functionalities. The total supply of Enjin Coin consists of mechanisms for backing NFTs, enhancing their value and liquidity, with 95% of the supply unlocked as of May 31, 2024.

The Enjin ecosystem features a comprehensive suite of products, including the Enjin Wallet for cryptocurrency management and an NFT.io marketplace for asset trading. Developers can integrate blockchain assets into various applications using the Enjin Platform API and SDKs. In September 2023, the launch of Enjin Blockchain marked a milestone for the ecosystem, improving its operational efficiency through a migration process of tokens and NFTs from Ethereum and Polkadot to its own chain, further supporting the growth of digital asset ownership in gaming.