Gamers playing online often want to have beautiful clothes and different upgrades for their characters. Imagine, you can buy everything you want, and you have enough money for this. It is possible to get all equipment in the play store or directly from players. It is called the market for virtual goods.
Enjin Coin wants to create a cryptocurrency and a decentralized platform for virtual trading goods. The Enjin Coin project gives a wide range of tools for platform users to monetize content. The project focuses on gaming forums and content management system.
Enjin wants to participate in the market for virtual goods. It will reach $17 billion by 2020. Enjin platform users will create demand and supply of virtual products in games and gaming forums with ENJ coins. Enjin is a well-established business with more than 18 million registered users and 60 million views per month.
Games and communities can create unique game items, currencies and tokens to make the Enjin coin more popular by using ENJ as the primary currency.
Let’s focus on the users and why they need Enjin coins
- can make more gaming sites (users receive tokens to do something valuable for the community);
- can strengthen the user participation (users are rewarded for active participation in the forums and games);
- can automate awards.
- can make token, to buy different items (swords, shields);
- can manage virtual products (wallets will have real market value);
- subscription in-game or on forum services.
- buy and sell items at fair value;
- trade game items;
- earn ENJ for games
- have a valuable currency.
A great Enjin platform
Enjin Coin and virtual assets are used as ERC20 tokens in Ethereum network. One of the Enjin Coin advantages is that it already has a great platform, where it can implement a system of ENJ tokens for six months. Enjin platform users will create demand and supply of virtual products in games and gaming forums with ENJ coins.
Enjin Coin wants to enter the market of virtual goods. Enjin is one of the largest platforms of social games. Total revenue increased from $3 billion to $8 billion in 2010-2015 by selling virtual products. Currently, Enjin does not have any close competitor. The market for virtual goods becomes increasingly significant with a large number of people who buy expensive things in games.
The main markets for virtual goods are:
- free games — 54%,
- MMO games — 34%,
- social networks — 23%,
- PC games — 12%.
The market space
Profit generation comes at the expense of raising the rate of the ENJ token due to the active platform use. Investors/holders of ENJ can trade with each other outside of the game environment, and even sell and set the value in several different games.
Enjin will develop the market space, wish lists and auction functions, directly within the Enjin social network and power system activity to facilitate trade P2P.
The actual platform will create a high demand for ENJ tokens. It will ensure profitable growth and capitalization. ENJ platform is an open source so other games/platforms can implement ENJ.
- Enjin has a well-established business, which shows the performance of the team.
- The project has a large consumer base.
- The project has not intense competition.
- Developers rely on third-party games.
- The use of Ethereum blockchain, which is currently clogged and barely usable due to high demand.