What is Enjin Coin (ENJ)?
Enjin Coin (ENJ) traces its origins to 2009, when Enjin began as a community platform for gamers. The project entered blockchain in 2017 through an initial coin offering, aiming to bring in-game items and NFTs onto a decentralized infrastructure. Today ENJ operates as the native coin of Enjin Blockchain, where it covers transaction fees, staking, and governance.
One of the project's most lasting marks on the wider crypto space came from technical lead Witek Radomski, who authored the ERC-1155 multi-token standard. Unlike older standards, ERC-1155 lets a single smart contract handle both fungible tokens and unique collectibles. It was adopted as an official Ethereum standard and became a foundational layer for the entire NFT and blockchain gaming sector.
How does ENJ give a value floor to NFTs?
Enjin introduced a mechanism called infusion. When a developer mints a sword, a skin, or any digital asset on the platform, a specific amount of ENJ can be locked inside it. Whoever holds the asset can later melt it and retrieve the ENJ. This ensures the item never becomes completely worthless — even if no one wants to trade it, the underlying ENJ gives it a redeemable floor.
What changed when ENJ moved to its own chain?
In late 2023, ENJ stopped being an ERC-20 token on Ethereum and became the native coin of its own independent network. Every on-chain action — paying fees, rewarding validators, casting governance votes — now runs directly on ENJ. The former Efinity token (EFI) was merged into ENJ during the same migration. The network is secured through a nominated proof-of-stake system: ENJ holders can stake their coins and nominate validators, earning rewards while helping maintain the chain.
