Hi There! How’s your money?
We’re back again with yours truly, Cryptoella!  In today’s video, we’re going to talk about 
one of the most sought-out blockchain hype,   that is Enjin coin.
What is Enjin Coin?  We all have read about people spending hundreds 
of thousands of dollars for fake real estate in a   video game and fake swords, also for video games.
Enjin is a blockchain platform and marketplace   designed for NFTs, like fake 
swords and make-believe land.  In these modern times, many people 
are living in virtual worlds as much   as they did in real ones – like going to 
virtual clubs, or buying virtual stuff.  Now this would be the kind of 
world Enjin coin would flourish in.  Enjin is a software that gives 
developers the ability to create and   manage virtual goods on the Ethereum blockchain.
The idea is that by using blockchain technology   to manage in-game items across many different 
properties, Enjin can help reduce the high fees   and fraud that have plagued the transfer 
of virtual in-game goods and collectables.  Central to managing the digital 
assets on its platform is ENJ,   Enjin’s cryptocurrency, and each in-game item 
created on Enjin is assigned a value in ENJ.  Enjin’s main use case is to enable users to 
manage and store virtual goods for games.  These can range from in-game currencies 
to tokens representing unique game items   like swords or accessories for characters.  For newcomers looking for new coins 
to add to their crypto portfolio,   Enjin's roots are in gaming.
The company was founded in 2009,   when co-founders Witek Radomski and 
Maxim Baglov created the Enjin Network  Enjin Network itself is a social gaming community 
platform that you might never heard before,   since probably it’s not related to the 
likes of PlayStation or X-Box games.  That said, a blockchain game called The Six 
Dragons is supposedly coming to PlayStation 5.  The Six Dragons enables players to craft NFTs 
using blockchain recipes created by other players,   who are paid with cryptocurrency 
in return for their service.  And Enjin is a part of that.
Today, the Enjin Network has   over 20 million users across more 
than 250,000 gaming communities.  These are true gaming nerds, who want to 
keep their swords and space battle gear.  Most games use an internal, centralized 
database to represent items.  While this is fast and cheap, 
players are on the losing end,   as they don't truly own their gaming 
items or the progress they make in-game.  If the game shuts down, all 
progress and items are lost.  Decentralized NFT items give you 
true ownership of those items.  Blockchain-based items can be more easily 
integrated into multiple platforms, allowing   cross-platform collaborations between game 
developers and big gaming brands like Minecraft.  Since launching their NFT platform, 
Enjin has backed over 1.14 billion   blockchain assets containing 12.5 million 
worth of ENJ coins that have been created,   and some 127,000 users currently hold ENJ.
In April, they launched JumpNet, which is   a fee-free blockchain that allows users to 
complete instant, gas-free transactions for ENJ   and Ethereum ERC-1155 smart contract assets.
Through a "bridge," ENJ can be moved over   to JumpNet, where it can be used for its 
intended purpose to mint carbon-negative   NFTs without transaction fees.
JumpNet led to the creation of   over 6.2 million assets that have 
been “minted” fee-free on JumpNet.  Minting is what you do when you create a virtual 
sword, for instance, backed by Enjin Coin.  The Enjin platform now has over 95,000 registered 
users, up from around 36,000 in January.  Over 830,000 items have been traded 
on the Enjin Marketplace since 2017.  The Enjin Wallet and crypto and NFT app 
has been downloaded over 2.3 million times.  Currently, Enjin are working with over 55 game   and app developers in an official capacity 
as part of the Enjin Adopter Program.  The core utility of ENJ is to directly 
back the value of blockchain items.  Enjin acts as a guarantee of value 
and certificate of authenticity.  ENJ can be extracted from the items 
through a process called melting.  So, if you own a sword for a game that 
you no longer play, you could always   melt the item down to receive the ENJ value 
from within or trade it on a marketplace.  Right now, we see a future where gaming 
economies become as complex and nuanced   as those in the real world, with gamers wanting 
to own every piece of their player experiences.  This will move the social paradigm 
past user-generated content   and more toward user-generated value, 
where people can create products   and services for each other in the digital 
world, powered by blockchain technology and NFTs.  Enjin Coin are building an NFT ecosystem that 
will give businesses, developers, and the   gamer audience everything they need to create, 
integrate, trade, distribute, and utilize NFTs.  This new reality will provide incredible 
opportunities for socialization, creativity,   economic activity, and social mobility.
Overall, if you love gaming, you live in   the internet, and you’re looking to keep your 
things safe and sound for years to come, there   is no reason not to buy Enjin Coin right away.
So, in short, that is all the news regarding   our beloved Bitcoin and cryptocurrencies today, 
straight away from yours truly, the Cryptoella!  Before you leave, make sure you click the LIKE 
button, share the video, leave a comment down   below, and subscribe so you may get notified on 
our latest videos.

Have a great one, and bye!.

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