Bang! and welcome back to crypto speculation.
in this video, always on the advice of a Biagio member, we will analyze a cryptocurrency that wants to establish itself as a leader in the videogame sector on blockchain.
Stay with me until the end of the video because it is at the end where I will reveal my opinion on this project. But now no more chatter, let's get to the heart and introduce you to Enjin Coin. Enjin Coin has a total Market Cap of approximately 2 billion, a total token supply of approximately 800 million and a value per token of approximately $ 2.6 To this project I have attributed a low degree of risk, for those who do not know what the degrees of risks are I made a video about it I link it above The first thing to note is the quality of the companies that support this project including possimao notes: Samsung, Microsoft or Atari but many other high profile companies.
Now let's analyze more specifically the objectives of this company and how it wants to revolutionize the world of gaming.
Enjin can be considered the gateway for all video game developers to the blockchain ecosystem. The first major obstacle that enjin solves, and these are not hopes and dreams as in many projects but already functional and tested tools is accessibility to the blockchain itself.In fact, they do not have to create or learn an extra line of code as Enjin with its platform allows the creation of NFTs without actually programming them. and allows you to integrate these NFTs into any application through tools that developers already use, such as the well-known Unity and Java.
Some of the main features that distinguish the Enjin platform from its competitors are, for example, the mass sending of assets, i.e.
Their protocol is able to send an X number of assets to more than 150 users per transaction, the peer-to- peer trading that allows users exchange assets in-game and in-app in a totally secure way, and the wallet link that allows users to connect their wallet to any application developed on Enjin. Now I confess that I am an old MMORPG player so I would spend hours and hours talking about the technical side and the possible applications, and I doubt that you care. Now let's move on to analyze everything from a speculative point of view, because that is what interests us investors.So let's start from the reference sector and focus our attention on the growth and value of the video game market.
The video game market in 2020 reached the record figure of 135 billion in total value and even an average annual growth of 10% is expected until 2025. Small anecdote in 2020, reaching 135 billion, it has overtaken the sports and cinema market combined.
As mentioned at the beginning, Enjin's total Market cap is 2 billion which is not even 2% of the total of the reference sector, in my opinion this certainly gives us good growth margins. However, in the current market and business situation we must be cautious in our assessment and now I will also tell you why.
In this moment of Bitcoin's bull run, the market has swelled thanks to the hype of the retails. now I tell you a little anecdote, as an old gamer passionate about this technology, as soon as the first games on blockchain came out, I rightly tried them, and currently the situation is this, 99% of the games are still in development and anyway they are all based on the most evil pay to win strategies you can imagine. I say this because as long as serious games are not developed and played worldwide, for recreational or competitive purposes, the value of Enjin coin will never be sustainable, as 99% of the games and players are here for the speculative aspect.
, and I mean they are destined to disappear as bitcoin's bull run ends at the end of this summer. Having said that I am not a financial advisor, I cannot tell you what to do, you must inform yourself and make your decisions accordingly. But what I can tell you is what I would do.
In this moment of the market given by the BTC cycle, I would be very cautious in investing in Enjin Coin, because in my opinion, as valid as this project may be, this value for Enjin Coin is not sustainable.
What I could most expect is a final pump given by the hype of the retails, which certainly will not be able to last long but certainly will not be sustainable during the bear market. So at the most now I would download one of those evil games to try to farm some NFTs, sell it and get some free Enjin Coins and wait patiently for the end of this summer as historical data suggests that the bear market will start them, or the best time to accumulate this type of asset with a long term view or at least until the next Halving. Now if you liked this video you want other analyzes of this type or you just want to tell me yours, write in the comments, leave a support like, subscribe to the channel and activate the notification bell so you will be notified at the next video..