Enjin Coin (ENJ) Analysis

Market Cap

$1,390,410,988 USD

Volume (24h)

$117,586,781 USD

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4.7

SAFETY

Ranking factors:

Markets

How many exchanges are there to trade this coin?

Enjin Coin Markets Rank: 18/100
Volume Ratio

How actively is this asset being traded on the market?

Enjin Coin Volume Ratio Rank: 8/100
Market Cap

The total cost of all coins available.

Enjin Coin Market Cap Rank: 99/100
24h Change

Is the price moving up or down?

Enjin Coin 24h Change Rank: 51/100
Social Following

How many users are following this coin?

Enjin Coin Social Following Rank: 98/100
Google Trends

How many users are searching for the coin?

Enjin Coin Google Trends Rank: 37/100
Twitter Citation

How many users are talking about this coin in Twitter?

Enjin Coin Twitter Citation Rank: 37/100
User Voting

How popular is this coin among Cointobuy community?

Enjin Coin User Voting Rank: 99/100

Enjin investment analysis

ENJ is virtual goods platform that is targeted at the gaming niche. This decentralized marketplace allows for gamers and developers to buy, sell and trade virtual items safely and fairly. Mobile gaming is an industry worth over $41 billion dollars, and much of that revenue is generated through microtransactions.

By utilizing a platform such as this developers can easily offer in-game items for sale to help fund their projects. This also greatly reduces the fees these small companies would incur from not only credit card processors, but also from platforms such as Apple and Google who charge a hefty percentage of each sale.

In addition, a project like this brings about real-world ownership of virtual items, and it allows for a currency to be useful on multiple platforms instead of just one. Many applications have been trying for some time to bridge cryptocurrencies and gaming, and I think that an Enjin investment could be the right move.

$1.67

+187.6%

$4.79

95/4138

by Safety

1968/4138

by Profit

How to buy Enjin?

You can buy Enjin on a number of reputable exchanges. There's plenty of liquidity here to make it easy for you to complete a purchase. You also have the option to trade using a number of different base currencies including Bitcoin, Ethereum and US Dollar Tether among others.

This is an ERC20 token, and while they do have their own Ethereum asset wallet, it's possible to store them in any wallet compatible with these tokens including My Ether Wallet, Ledger, Trezor, Coinomi, etc. Any of these would make a fine choice. Just be sure not to leave your tokens on an exchange as it is not secure.

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Gaming has become big business, and it's only continued to grow with the explosion of mobile applications on the market. However, the PC and console game markets are still here as well. If you were unaware there is a very large market for the trading of virtual items and in-game currencies online.

Much of this is kept quiet though as it's often against the TOS of these games for players to trade their virtual items for real-world currencies. However, I see that shifting rather quickly, and a platform like Enjin's may be a powerful force in that.

A large problem concerning these trades is that it's hard to complete them in a manner which is fair and safe. Often times a payment processor such as Paypal will not honor a dispute for a virtual item. No doubt because it is difficult for them to ascertain whether it was actually delivered or not.

However, the blockchain provides an immutable ledger that can not only record these transactions, but it can also act as an intermediate to complete these trades using smart contracts. What's more is that I think gamers will be quick to jump on something that could potentially be an easy way for them to earn money from their hobbies in a new way.

Now, instead of having their hard work placed into loot that is collecting dust in their virtual banks, those items are valuable. They are an investment asset which can be traded or even sold to purchase goods in the real world.

There are many projects angling for market share in this space, so what makes it a good idea to invest in ENJ? For starters, they have excellent branding. The best of possibly of any competitor, and that can't be ignored. They're also part of the Enjin network which hosts over 250,000 gaming communities. A presence like this is an incredible advantage over other projects.

Their team already has a good deal of experience in this space, and their connections to the gaming community will be instrumental in accomplishing their goals. They've also got some high profile advisors on board including Anthony Diiorio, the co-founder of Ethereum and Pat LaBine, who was the technical director at Bioware, responsible for Mass Effect, Dragon Age, and other popular titles.

While there are many gaming platforms out there, this one is my top pick. They seem to have all the right boxes ticked to make this work, and I'm looking forward to their future success.

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