Hello Cryptogang, welcome to another LamboLife video. Wow! When I first heard of Enjin Coin I thought they were too good to be true. It’s just, I didn’t expect that they have come this far. I mean, they were under the radar for so long until the news of their partnership with Samsung suddenly catapulted them to the centre stage of the crypto space. And, lemme be honest with you, I don’t think Enjin was overhyped at all.
Their coin did pump yes, probably a little too fast. But relative to their achievements and perceived value, I think its kinda justified. I’m not saying the price couldn’t go down, it might. This market is crazy. What I’m trying to say is, regardless of the price, the fundamentals of Enjin are strong.
And I’m a value investor, I tend to focus on what I deem would win, in the long term. So Enjin Coin is a cryptocurrency for virtual goods created by the Enjin company. But, their project goes beyond the currency itself. They have half a dozen products and a suite of software development kits that developers can integrate into their games and communities.
Enjin Coin is fundamentally designed to be the most useful cryptocurrency in the gaming industry, and the other products are the infrastructure to realize that goal. They are not here to create their own centralized games or gamer marketplace. They are building a sort of like an ecosystem that will encompass the entire gaming industry.
They don’t want a piece, they want the whole pie! This project is very ambitious. And I can’t stress that enough. And with all of this in mind, I’m starting to think that gaming really is the killer app. A killer app. There will be other killer apps too, but gaming will very likely be one of them. The Enjin company has been around for a decade but they only announced Enjin Coin almost 2 years ago.
Since then, they’ve gone far in terms of development, partnerships, and adoption. They already got listed in over 25 exchanges, including the most popular ones like Binance, early on in their crypto journey. They created a whole bunch of products in their ecosystem. ENJIN NETWORK, ENJIN PLATFORM, ENJIN WALLET, ENJIN BEAM, EFINITY.
We’ll discuss each of those so be sure to finish the video to get the most out of me. Enjin was also able to win multiple strategic partnerships with multiple companies from the gaming industry. They partnered with PC Gamer, one of the biggest gamer magazines from the UK. They also allied with game developers such as the open-source game engine community, Godot.
Godot is an open-source game engine for building 2d and 3d games. I don’t how exactly they partnered with an open-source community, but they did. What’s even more impressive is how they got into bed with Unity Technologies, the creators of the Unity game engine.
If you’re a game developer, this will probably give you goosebumps, coz Unity, at least according to them, is the worlds leading game engine; and is used to create half of the world’s games. Yeah! I’m not sure how accurate this is, but I have observed that most indie games are built on Unity. No doubt, they are big. Oh, and by the way, Enjin also partnered with NRG, an organization based in California.
NRG has rosters in Clash Royale, Dragon Ball FighterZ, Fortnite, Counter-Strike: Global Offensive, Overwatch, Smite, Hearthstone, etc. Among all the partnerships, the one thing that stood out in the public view is their deal with Samsung. Boom! Just look at that graph. As you can see it was going sideways until near the end of February when it suddenly pumped. That was the time when their partnership was still rumors.
As you can see at the bottom part, there was also a sudden spike in trading volume, because a lot of people were buying; but it settled down quick, as people might have realized, it was just a rumor after all. But on the 8th of March, it was confirmed that the rumors were actually true, and then it jumped further before settling down again.
The point I’m making here is that a big company like Samsung can drastically cause prices to skyrocket. It’s not just Enjin alone but all other Dapps that Samsung incorporated in their crypto wallet, which by the way, isn’t even pre-installed. For me, the only thing Samsung truly does, other than hype, helps legitimize Enjin Coin; that is to say; affirming that their project has real substance, and not simply a marketing machine, unlike most other cryptocurrencies. But what really counts is the development of their ecosystem and their partnership with notable companies and organizations from the gaming industry.
Samsung is its boost. But they are going to have to do right by the gamers they will ultimately serve. When assessing the value of a cryptocurrency, at least from an investor’s point of view, you need to take into account the company or organization that is building it. How big is their company? What is their goal? So I want to share just enough information about the Enjin company.
Believe it or not, they’ve been around since 2009, around the time when Satoshi first introduced Bitcoin to the world. It goes without saying, they didn’t start out as a crypto company. They didn’t plan to build Enjin Coin and their blockchain gaming tools. Not at first.
But in those very early days, what they did was launch their first product: a gaming community platform called the Enjin Network, and they have been deeply involved in the gaming industry since. One decade later; boom! They now have over 30,000 gaming communities and 20 million users in their platform. In July of 2017, they announced Enjin Coin and launched a successful ICO crowd sale on October that same year, raising 23 million dollars.
Considering how a lot of shitcoin ICOs raised over a hundred million dollars, Id says Enjin was being really generous asking only 23 million, for a crypto project that’s supposed to dominate the gaming industry. Now let’s talk about their products. Talking about Enjin products would likely take a whole series, which is what I’m intending to do. But in this video, I’ll just give a quick overview so you’ll have a general idea. First is the ENJIN NETWORK. What is it? Well, it is the gaming community platform.
It is used by gaming clans and guilds. This is the platform that has all those 20 million users I talked about earlier. The Enjin Network provides infrastructure such as a website builder, website hosting, game forum boards, social network, and many more. Its an all-in-one platform for gaming communities and many guilds and clans from popular games have used this platform.
People from World of Warcraft, Call of Duty, and many other games come here to create and manage their communities. Now, lets talk about the ENJIN PLATFORM, and its very interesting considering that they just announced their launch on the Ethereum Testnet a few days ago.
The Enjin platform is a blockchain Platform as a Service. It allows you to create and manage blockchain games, without the complexity of building and maintaining any blockchain infrastructure, or writing any blockchain-related code. So if you’re a game developer company, with no history with blockchain, the Enjin platform might be a worthwhile investment. You could say this is an all-in-one game development platform.
Let’s proceed to the ENJIN WALLET. The Enjin Wallet is not just another crypto wallet. It has a simple interface and a great user experience. Not only does it support Enjin, but also Bitcoin, Litecoin and ERC20 tokens. You see, people don’t want to have many different wallets with different passwords; it’s not user friendly.
This is why I think the Enjin wallet adds a lot of value to their ecosystem. You can also store your collectables on the wallet which can be everything from gaming multiverse items to membership tokens. Its a wallet that caters for everybody’s needs but adds an extra and specific use case for gamers.
Furthermore, they took this a step further by adding support to the so-called ENJIN BEAM. According to them, Enjin Beam is the worlds first scan-and-receive QR code-type item distribution system for cryptocurrencies and blockchain items. Basically, this allows users to receive cryptocurrencies and blockchain assets by scanning a QR Code through the mobile wallet.
Then, there’s ENJIN MINTSHOP, their Blockchain Asset Creation Service. This allows users with no development experience to create blockchain assets. They will be the using the brand-new ERC-1155 tokens, which has already minted over 20,000 tokens. We will discuss ERC-1155 in another video.
And of course, their scaling solution, Efinity. As of now, Efinity is still in the development phase. Soon, it will serve as the network for performing highly scalable gaming transactions. With Efinity, a game will be able to perform nearly infinite volumes of transactions between millions of players and the game server at high speeds and nearly no costs.
Alright, so to wrap this up, Enjin Coin is a blockchain ecosystem, for building a suite of products that enable anyone to easily create, manage, trade, store, explore, distribute, and integrate blockchain assets. They were founded by the Enjin team and theyve been involved in the gaming industry for a decade.
Damn it feels good to be in crypto! Alright. I wasn’t able to discuss any drawbacks in this video, there’s just a lot that I need to know first before I spit out some fiar. Not, that I’m biased to Enjin, I love Enjin but, facts are a priority. In the upcoming Enjin videos, I will go deep in discussing their different products as well as their drawbacks. And just about anything, I haven’t discussed in this video. So if you haven’t done it, maybe you should subscribe.
I mean, I dont wanna tell you what to do, but all you gotta do is click it and you’ll be notified in every upcoming video. Alright, guys. See you on the flipside!.