Bitazza Thailand Blog

ENJ: The Driving Force Behind NFT and Gaming Transactions

Written by Bitazza Team | Apr 30, 2025 2:26:13 AM

 

Bitazza Thailand presents an in-depth look at Enjin Coin (ENJ) — a crucial token at the heart of the Enjin ecosystem, powering transactions in the world of NFTs and gaming.

 

The Enjin Ecosystem

Enjin is a blockchain-based ecosystem designed to allow individuals, app developers, programmers, and businesses to easily create, manage, and integrate NFTs into apps, games, or websites. It offers a suite of tools, including digital wallets, marketplaces, and NFT development platforms — all connected to support a unified digital economy.

The ecosystem is built on several core components:

  • Enjin Blockchain: A blockchain purpose-built for gaming and applications.
  • Enjin Platform & API: Tools to build and deploy Web3 experiences.
  • Enjin Integrations: Fast solutions to integrate and build Web3 features into applications.

A key strength of the Enjin ecosystem is the use of Enjin Coin (ENJ) as an asset-backed token, which stores real value within NFTs. The system also emphasizes ease of integration through APIs and supports mass adoption, even beyond the crypto industry.


Enjin Blockchain

Part of the broader Enjin ecosystem, Enjin Blockchain was previously known as Efinity during its development phase. It is optimized for NFTs — enabling efficient creation, management, and transfer of digital assets. Key features include low fees, fast transactions, and built-in tools like NFT sponsorships and Fuel Tanks, which allow applications to cover gas fees on behalf of users. It is designed to scale and is environmentally friendly.

  • Transaction speed: ~6 seconds
  • Transaction capacity: Over 5,000 TPS
  • Transaction cost: ~USD 0.0008 per transaction

 

Enjin Coin (ENJ)

ENJ serves as the governance and utility token at the core of the Enjin ecosystem. Originally launched on Ethereum in June 2018, ENJ migrated to the Enjin Blockchain in September 2023, unlocking higher speed, enhanced utility, and stronger support for gaming, applications, and NFT trading.

Key Use Cases of ENJ:

  • Governance: Propose and vote on initiatives that shape the Enjin ecosystem.
  • Security: Secures the Enjin Blockchain through a Nominated Proof-of-Stake consensus.
  • Gas Fees: Used to pay gas for all transactions on the Enjin Blockchain.
  • NFT Minting: ENJ is used to mint NFTs and can only be recovered by burning the NFT.
  • Trading: Serves as the primary token on NFT.io, the marketplace for collectors and gamers.

ENJ Tokenomics

  • Total Supply: 1,890,000,000 ENJ
  • Circulating Supply: 1,830,000,000 ENJ
  • Maximum Supply: No hard cap specified

Token Allocation

  • Crowdsale: 47.86%
  • Early Governance Rewards: 13.29%
  • Ecosystem: 9.31%
  • Master Nodes / Staking: 6.94%
  • Team: 6.59%
  • Others: 16.01%

The price of ENJ as of April 30, 2025, at 09:20 AM is 2.7796 Baht.
The 24-hour low is 2.7396 Baht.
Prices are based on data from the Bitazza Thailand platform.

 

References (Data compiled as of 23 April 2025)
Enjin 
CoinMarketCap 

*Cryptocurrencies and digital tokens involve high risks; investors may lose all investment money and should study information carefully and make investments according to their own risk profile. Past performance does not guarantee future performance.

Explore more on Bitazza Thailand blog
View full post