Estimated reading time: 2 minutes, 17 seconds
This episode of Blockchain Token – What is it? gives you the rundown of Enjin Coin!
If you’re a fan of video games, especially Minecraft, then you’re going to enjoy today’s episode. Today we’re covering Enjin Coin, a cryptocurrency specifically designed to be integrated into different video games.
While Enjin is a cryptocurrency, it also is a platform that offers so much more. Enjin is actually an all inclusive website building platform that can offer many features. Forums, voice servers, and donations being a few; all centered around the Enjin Coin as its currency.
Back in the day when you played video games you pretty much had to go at it alone. Maybe you would go to your friends for ideas or help if you got stuck. The Internet has changed this very quickly. This generation of gamers are used to being connected via a community, whether it be a subreddit or Discord.
There is now a community aspect to playing a game, even you stick to single player. There is a demand for certain “supporting” websites, some using API provided by a game. These “supporting” websites add features that are too tough to put in a game. Enjin Coin is trying to capitalized on this new type of demand.
While Enjin has focused on breaking into the Minecraft community, it can actually be used for any “guild-based” games. And that has some really interesting applications, because another industry that is rapidly rising is e-sports. We’re seeing more and more stadiums packed with people just willing to watch the best compete. We’re seeing television coverage of these events. Enjin is trying to break into one of the highest potential markets.
Enjin has 300,000 communities already built on their platform. However, the biggest hurdle that Enjin is going to face is adoption by major game developers. I can guarantee you that some developers are researching making their own cryptocurrency. Enjin is going to have to differentiate itself to make it a more attractive option for developers to adopt. Another strategy that may help is focusing on helping small to medium size developers that don’t really have the resources to create or manage a cryptocurrency.
Another interesting project working in the e-sports industry is First Blood, which you can check out here.
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