The evolution of the cryptocurrency world cannot be discussed without [“ENJIN”](/coins/enj) coin popping up. The purpose of ENJIN coin, and its advanced features, certainly make it worth talking about. 

ENJIN coin (ENJ) is an ERC-20 token traded on the [Ethereum blockchain](https://coinmarketcap.com/currencies/ethereum/) launched by the company [Enjin](https://enjin.io/). At first, ENJIN was founded as a network, a community gaming platform, in 2009 by Maxim Blagov and Witek Radomski. 

In 2017, ENJIN coin was launched to try and make NFT usage easy for individuals and enterprises. As we all know, there’s a massive buzz around NFTs in the crypto space right now, with many investors seeming to become millionaires overnight. 

On November 25, 2021, ENJIN coin reached an all-time high of $4.85. That was during a favourable period for the crypto markets. Today, the ENJIN coin price stands at about $0.90. 

Despite the comparatively low current position, there are indications that the longer-term fortunes of ENJIN may be better. 
 
## What is ENJIN About 

You probably know a little of what this coin is about, but let’s add to that knowledge. 

ENJIN is designed to integrate with games. Some gaming platforms are exposed to risks, such as manipulation, scammers, and hackers. Virtual items have been reported stolen. In addition, users sometimes complain about transaction fees and speeds, as well as ‘centralization’ locking assets into a single game. 

These all impact the reputation of the game and platform. 

ENJIN was designed to help combat some of these issues and create a safer space for gamers. 
Items bought by players with ENJIN can be used in multiple games and can be traded and sold in an online marketplace with ease. In addition, ENJINwallet can be used to buy, sell, and trade NFTs, while ENJIN coins can be used as a currency. 
With the ENJIN platform, gamers and content creators can manage and trade their NFTs successfully and easily. 


ENJIN tokens run on a proof of work (POW) consensus algorithm, meaning that, like Litecoin, ENJIN tokens are created through mining. The mining process for all cryptocurrencies running on POW is the same. Miners verify their transactions by completing cryptographic equations and then move to the next transaction. For effective ENJ mining, the best way to go about it is by using the ASIC mining setup. 
 

## How To Buy ENJIN 

The first step to buying an ENJIN coin is to have an Ethereum wallet compatible with ER-20 tokens. ENJIN coin is available on a range of exchanges. 
The amount of coins you buy entirely depends on you. As I always mention, cryptocurrency is a high-risk investment; investing depends on the amount of risk you are willing to take. 


## Conclusion 
While the ENJIN coin value has fallen from its November ’21 high, there is potential for this cryptocurrency. Features aimed at making gaming safer and easier are likely to continue finding favour with gamers. In addition, its use in the NFT space aligns it with a rapidly expanding industry. Both could contribute to a brighter future for ENJIN coin. 


You can read more guest articles at [brendanbeeken.com](https://brendanbeeken.com/). 

What Is ENJIN Coin?

Facebook, and parent company, Meta, have been in the media a lot lately.  While not all of the headlines have been good, a recent one that announced the company’s mega investment of $10 billion into creating “the metaverse” should pique the curiosity of crypto communities around the world. 

Metaverse is more than a new buzzword, and it is _not_ unique to Facebook.  Microsoft is another industry titan trying to lay its own claim to this so-called metaverse. They may, in fact, be _leading_ the charge considering how Microsoft has already adapted several technologies currently used in these environments.

## What _is_ a metaverse? 

The term was first used in Neal Stephenson’s 1992 science fiction novel, "Snow Crash."  In it, Stephenson hatched the term when he described avatars who would connect and congregate in 3D buildings and other virtual reality environments.  In our world, metaverses are best defined as digital universes that people access with a virtual reality headset. This allows them to work and play in an imaginary, digital realm.  It’s virtual reality at its finest.

Here’s where it gets interesting – the leading members of the technology brain trust are convinced that the metaverse represents _the future of the internet_, and it’s rapidly evolving.  With metaverses making more strides into becoming a reality, we are learning that to truly become _fully_ immersive worlds with their own economies, they need to have a form of currency.

That’s where digital assets come into play as they are often paired with blockchain VR social platforms. This is so that people can buy items within the game, such as land, weapons, or other items that can be traded with other players. 

## Top 3 Cryptocurrencies for Metaverses

Here are three of the top cryptocurrencies well positioned to serve as the economic backbone of future metaverses:

### **SAND**

The Sandbox is a virtual world (metaverse) where players can build, own, and monetise their gaming experiences in the Ethereum blockchain using the platform’s token, (SAND).  SAND has a current market cap of over $2 billion and the Hong Kong-based gaming platform very recently raised $93 million from SoftBank. SoftBank is apparently committed to watching Sandbox further expand its digital world.

### [**Decentraland**](https://decentraland.org/)

Decentraland is another blockchain-based metaverse powered by the ETH blockchain.  Here, users can purchase plots of digital real estate called "LAND.”  Users are then able to buy plots of LAND using the metaverse’s in-game cryptocurrency token, (MANA).  Users can both purchase LAND in this metaverse as well as use their MANA tokens to pay for in-world goods and services.  At present, MANA has a market cap of over $4 billion and since trading at around $0.08 this past January, MANA has shot up to $3.18 today.

### [**Enjin**](https://enjin.io/)

The self-proclaimed “largest gaming community platform” currently boasts more than 250,000 gaming communities and more than 18 million registered players.  The Enjin Coin (ENJ) is an Ethereum-based coin with a market cap of almost $3 billion.  The main use case for Enjin is creating ENJ backed assets that can be accessed in games.  For example, developers can create items such as weapons, and back them with a certain amount of ENJ coins. 



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