Crypto Gloss

Enjin Coin

Enjin Coin (ENJ) is an Ethereum ERC-20 token created by Enjin Pte. Ltd. (Singapore), launched via ICO in November 2017, that serves as the reserve currency for blockchain gaming items: game developers using the Enjin Platform mint ERC-1155 NFT game items with a specified amount of ENJ locked inside each item as backing value — providing a guaranteed redemption floor where any holder can “melt” the NFT to reclaim the locked ENJ. The ERC-1155 multi-token standard, co-authored by Enjin’s Witek Radomski, was largely created to support this use case.

How It Works

  1. ENJ infusion — When a game developer mints an in-game item (NFT) using Enjin’s tools, they specify an amount of ENJ to lock inside each token. This ENJ is “infused” and locked in the item’s smart contract.
  2. Melt value — Owners of Enjin-backed NFTs can destroy (“melt”) the item at any time to retrieve the locked ENJ. This creates a guaranteed redemption floor — no ENJ-infused item can fall below its melt value.
  3. ERC-1155 standard — Enjin contributed to the Ethereum EIP-1155 standard, which supports both fungible and non-fungible tokens in a single contract, with batch transfer support. This became an industry standard for gaming tokens.
  4. Enjin Platform — Cloud-based SDK and APIs for game developers to integrate blockchain items without deep blockchain expertise. Available for Unity, Godot, Java, Python, and more.
  5. JumpNet and Efinity — Enjin developed JumpNet (proof-of-authority sidechain) for gas-free NFT transfers, and later Efinity — a Polkadot parachain designed as a cross-chain NFT infrastructure (rebranded as Enjin Blockchain in 2023).
  6. Enjin Blockchain (NFT chain) — A Substrate-based blockchain (Polkadot ecosystem) launched in 2023 as a dedicated L1 for NFTs, using ENJ as gas.

Tokenomics

Parameter Value
Ticker ENJ
Chain Ethereum (ERC-20) + Enjin Blockchain (native)
Contract (ETH) 0xf629cbd94d3791c9250152bd8dfbdf380e2a3b9c
Max Supply 1,000,000,000 (1 billion)
Launch November 2017 (ICO)
Infusion model ENJ locked in NFTs is removed from circulating supply until melted

Use Cases

  • In-game item backing — Lock ENJ into game items as guaranteed floor value.
  • NFT melting — Destroy NFTs to reclaim locked ENJ.
  • Enjin Blockchain gas — Pay transaction fees on the Enjin Blockchain.
  • Gaming ecosystem investment — Hold ENJ as exposure to blockchain gaming adoption.

History

  • 2009 — Enjin community gaming platform founded (Maxim Blagov and Witek Radomski). Pre-blockchain, Enjin ran a popular gaming communities CMS.
  • 2017-11 — Enjin Coin ICO raises approximately $18.9 million. ERC-20 ENJ token created on Ethereum.
  • 2018 — Enjin Platform SDK releases. First games begin minting ENJ-backed items.
  • 2018-06 — Witek Radomski co-authors EIP-1155 (multi-token standard) which is submitted to Ethereum Improvement Proposals. This becomes widely adopted.
  • 2019-01 — EIP-1155 finalized. The standard is adopted industry-wide for gaming tokens.
  • 2021 — NFT gaming boom. ENJ reaches all-time high of ~$4.85 in November 2021. Samsung integrates Enjin’s SDKs. Leading games and metaverse projects mint ENJ-backed items.
  • 2021-04 — JumpNet sidechain launches, enabling gas-free ENJ and NFT transfers.
  • 2021-11 — Efinity (Polkadot parachain for NFTs) wins a parachain auction slot. Crowdloan collects DOT.
  • 2023 — Efinity rebrands to Enjin Blockchain. A Substrate-based L1 NFT blockchain using ENJ as native token launches on mainnet.
  • 2024 — Enjin Blockchain continued development. ENJ bridge from Ethereum to Enjin Blockchain available. Price recovery from bear market lows.

Common Misconceptions

“ENJ is just a gaming token with speculative value.”

ENJ has mechanically enforced value via infusion: every ENJ-infused NFT has a guaranteed buyback at its melt value. This gives ENJ a utility-driven demand floor tied to every minted item.

“ERC-1155 is only for Enjin.”

ERC-1155 (co-created by Enjin’s Radomski) became an open Ethereum standard adopted by OpenSea, Axie Infinity, and virtually every major NFT platform. It is not Enjin-specific.

Social Media Sentiment

Enjin was a blockchain gaming pioneer and is respected for technical contributions (ERC-1155). The 2021 NFT gaming boom was a high point. Post-bear-market, the move to Enjin Blockchain and away from Ethereum L1 has caused some fragmentation of developer and user attention. The community remains active, particularly among NFT gaming enthusiasts. Samsung’s integration (Galaxy S10 hardware wallet support) was a notable mainstream milestone.

Last updated: 2026-04

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