Adoption, The Final Form of Cryptocurrency
The Crypto World is an innovative landscape full of ambitious dreams and grand ideas. We draw up our prediction charts and speculate growth but so far there hasn’t been a tangible metric to judge a definitive path to success. We all know this metric needs to be something that connects Crypto to the real world. I mean, what’s the point of ambitious dreams and grand ideas if we can’t make them a reality? So the word of the day, is adoption.
For every Crypto project, adoption needs to be the core of its evolution. Without adoption we are just swapping trading cards, not exchanging products. One company is planning to change this status quo within the next 3 months. After coming from nothing and creating a network of 18 Million users over the last 9 years.
Enjin has decided to take their business structure to the next level by overlaying a decentralized network of assets that spans throughout the games industry. You are now witnessing the birth of Enjin Coin, the ERC-20 Ethereum based token that will be the blood that pumps through, what I believe will be the world’s first mainstream, decentralized gaming economy.
The plan is for game developers to be able to mint Virtual Items out of Enjin Coin, and like in the real world, the items will hold value based on what they are made out of (Enjin Coin). The items will also have a separate perceived market value based on their individual utility and supply and demand. These virtual items are called NFTs (Non-Fungible Tokens) which are publicly verifiable as unique and scarce via the blockchain data that any developer can validate.
What sounds so easy to create and execute is actually a logistical nightmare for any group of developers that are not up to the challenge. The designing of this system and executing of the roadmap is only possible because Enjin has 9 years of skin in the game, building the world’s biggest cross-platform gaming community.
The crypto community now have the chance to leverage Enjin’s user base, experience, talent, equipment, servers & IP. It’s an undeniable fact that there is no other company in the world more perfectly positioned to create a mass market decentralized gaming economy, and they’re throwing all of their weight into it.
Enjin plans to make the complexities of gaming economics one less thing for game developers to worry about while boosting community engagement and improving gameplay. As a gamer, you could also potentially take a Virtual Item out of one game and use it in another. At this point Game Developers would have to work together on this ability but if Enjin were to implement a standardized set of product specs for Developers to adhere to, there’s a potential that any Developer that creates games and mints items that fit the mold would instantly gain access to the world’s most advanced in-game marketplace functionality along with the user base that follows.
Because the supply of items on the blockchain is irrefutably provable, many gamers that have never purchased in-game items before will throw money into virtual items, excited about the functionality it brings and the gains they can accrue. This presents a massive opportunity for developers to create a far more engaged network. Just looking at mobile games, currently half of all mobile gaming money comes from 0.19% of users. In an industry that rakes in over $41 Billion per year a small shift in the status quo can have gigantic implications, it’s hard to imagine the results that a revolutionary innovation such as Enjin Coin could create.
However, Enjin is not specifically aiming for the mobile gaming industry, they are targeting everything, everywhere and everyone there. With plans to release SDKs that will allow for easy adoption into every gaming market possible. This is an opportunity for game developers to save time on working out complex in-game economics and put an end to hemorrhaging revenue due to 85% of in-game transactions being fraudulent. But this is more important than that, it’s a chance for Game Developers to offer their customers virtual items that are truly valuable in the real world as well as within their gaming environments. This is a way to connect their gaming environments into a much larger ecosystem of economics. This is a way to let their users truly live the game, with real-world implications for their online successes.
Enjin know what they’re doing, they’ve done it for 9 years and created a mammoth gaming platform out of nothing. They have a roadmap that is value driven, audacious and only achievable by them. They are working with accomplished economists to ensure they can seamlessly connect the crypto world — to the gaming world — to the real world. They have a talented leadership and development team who are already building the systems that games will be using within the next 3 months, and the crowd sale hasn’t even started yet.
I am not just writing this as an Enjin testimonial. I am writing this to put my footprint next to the launch pad, to prove that I was there when history was in the midst of creation.
Adoption is the game, and Enjin is about to show the crypto world how to play.
#1 Enjin Fan