The Enjin Army always pulls through.
With over 7,000 people tuned in, this was a prime opportunity for us to increase awareness of the Enjin blockchain ecosystem—and have some fun doing it.
Here’s what Maxim and Witek had to say.
Witek: I’m the CTO and one of the Co-founders of Enjin, and the author of the ERC-1155 token standard. I’ve been overseeing the tech direction of Enjin over the last 10 years.
Maxim: I’m Maxim, the Co-founder, CEO & Creative Director of Enjin, a company Witek and I founded in 2009. It’s been an amazing journey so far and getting more and more exciting each day :)
I understand that Enjin Coin gets staked within all blockchain assets minted using the Enjin Platform. Can you explain how this works?
Maxim: Every blockchain asset or item minted in the Enjin Platform must have at least a small or a large amount of Enjin Coin(ENJ) staked inside of it, acting as both a certificate of authenticity and providing the minimum real world value to the asset.
For example, an item called the Monolith has 1,155,777 ENJ (approximately US $94,181) backing it.
Here’s what it looks like:
The creator of an item (usually the game developer) decides how much ENJ an item should be worth, and that amount is staked in a smart contract during minting.
Any person who holds that item in the future can “melt” it at any time to collect the ENJ—but melting the item will also destroy it, as well as its utility in games.
Millions of ENJ has already been locked into over 40 million items, and this is just the beginning of the adoption journey for ENJ!
Maxim: Who wants to win it? ;)
Witek: The Enjin Platform is the ultimate tool for creating and using ERC-1155 blockchain items.
Game developers can simply install the Blockchain SDK and focus on how these new kinds of assets work in their actual game code. They don’t need to build complex blockchain infrastructure, servers, nodes, databases, or tooling.
That’s what makes our platform so powerful—it makes blockchain development extremely easy to jump into.
Secondly, the concept of blockchain game item ownership is a game-changer for the industry. Players will experience a stronger connection to their favorite games since their actions and assets are “real” in a sense and can’t be taken from them.
Blockchain will also allow websites, mods, and communities to form around games in ways that weren’t possible before with closed databases.
Many forward-thinking game developers can see the massive potential this holds, and they want to create the next generation of games using blockchain technology.
Over 30 games have already started building with the Enjin Platform. The range of games is pretty amazing—RPGs, battle arenas, puzzle adventures.
Also, we’re starting to see brand new game developers adopting the platform more rapidly in the last few weeks, now that the Blockchain SDK is available to the public.
Maxim: Quick correction: the Monolith is worth ~180K USD now.
Maxim: I have quite a few favorites, so let’s see..
My number one favorite feature is the Samsung S10 Enjin Wallet integration.
We worked closely with the Samsung team to achieve what I feel is a marvel from both a software and hardware perspective. In my opinion, this innovation makes hardware wallets like Trezor and Ledger nearly obsolete.
Once you get your hands on an S10 and install the Enjin Wallet, it will be an instant “why hasn’t anyone done this before? this is an incredible innovation for the crypto industry.”
My 2nd favorite feature is actually not released yet but coming very soon. ’ll give you a hint: it involves Binance Chain!
Extremely excited about this and this an exclusive bit of news just for this AMA. More details on this later.
In terms of current wallet features, Enjin Beam definitely has to be my other favorite. Just showing someone a simple QR code allows them to receive their first blockchain asset without any prior experience. I love how fun it is to hunt for the next Beam code and find new items to collect.
We will be posting an Enjin Beam QR during this AMA, so make sure you have the Enjin Wallet installed and be ready to scan the QR as soon as it drops. They don’t last long! (There are master QR hunters out there.)
Maxim: EnjinX was built to overcome the limitations we saw presented by the complexity and ad-focused nature of Etherscan and other blockchain explorers.
EnjinX is ultra-fast, extremely easy to use, and always ad-free. It’s pure and universal chain-ready, which creates an amazing user experience that propels mainstream adoption.
Next week, we will be releasing a huge update to EnjinX that will display and track all ERC-1155 assets—the gold standard for blockchain-based digital items.
Here is a preview for this AMA:
EnjinX is also highly adaptable.
Here is a custom Binance branded version of EnjinX—check it out, share it, and support ad-free websites.
Witek: Hmm, well digital assets are such a universal concept that I’m quite certain dozens of other industries will adopt our tools. This has actually already started to happen over the last few months.
One example that comes to mind in the future is physical products and commodities being linked to digital assets in supply chains. Since ERC-1155 allows for such quick and easy creation of tokens in a single smart contract, it’s an ideal platform and standard for tracking such items on the fly.
Another powerful tool is Enjin Beam, which will allow for massive token promotions and airdrops in venues such as movie theaters, TV, streaming content, conferences, theme parks, and any other kind of in-person experience.
QR codes can even be easily printed on consumer products for this new kind of airdrop. We can see many industries using the power of this to add an interactive digital token linked to their existing service or products.
Distributing tokens like this is very affordable compared to other kinds of remarketing and can engage customers in a cool, futuristic way.
It’s going to be a completely new world.. there’s a very exciting future ahead.
Witek: We are building an extremely powerful API for EnjinX. This will allow game developers, web developers, and users to query multiple blockchains in a powerful way, not possible with existing blockchain APIs.
Maxim: There has been a great deal of exposure and it has helped push the vision of ENJ quicker towards our mass adoption goals. The plan remains the same, we’ve always focused on adoption from day one.
With the release our Unity SDK, game developers are now signing up with confidence and using our platform to mint and build blockchain games in a matter of weeks.
Maxim: ENJ-backed assets are going to add a major new dimension to gameplay and monetization in all types of games. Also, the multiverse will allow for amazing cross-promotion of games in a large publisher’s catalogue.
Maxim: We want to support everything that Binance Chain is doing. It’s an awesome step forward for the blockchain industry and will open up gateways of adoption like never before.
Maxim: Very soon!
Maxim: King’s Quest I
Witek: It’s a sidechain to Ethereum with some advanced features for games that haven’t been done before in existing layer 2 solutions.
Maxim: A Ready Player One-like world powered by Enjin.
Maxim: No, Ethereum combined with Efinity will offer the perfect balance for digital asset creation and utility.
Maxim: Yes, very soon.
Maxim: Eventually, yes. Until then, you can swap tokens via Kyber, Bancor, and Changelly in the wallet.
Maxim: Can already use Enjin Wallet Galaxy S10 version in Korea.
Witek: Game items can be sold by users or game developers for any price they want, in any currency. But the infused “melt value” of ENJ does not change per each minted item. We’re still thinking about potential future ways to allow for this, but for now it’s fixed ENJ per item type.
Maxim: To generate more adopters. #AdoptionIsEverything
Maxim: Efinity will solve this issue. You may need nothing :)
Maxim: Yes, already can be done with our Enjin Beam Reveal Code System.
Maxim: We will push for this goal. It will also depend on the price of ENJ somewhat.
Maxim: Nothing runs well without an Enjin!
Witek: Something like this would have to be done by individual game developers. If a developer wants to support some kind of log of cheaters, they can implement this into their game, similar to how “PunkBuster” worked for multiplayer shooters. But if other developers don’t want to restrict their possible client base, they don’t have to follow this.
Maxim: Already top 10 in utility and adoption :)
Maxim: Yes, ENJ is hidden in many ways, and I foresee millions of users using ENJ based digital items without even knowing it exists. ENJ Adoption will lurk beneath us all.
Witek: Enjin is making the power of blockchain accessible to mainstream audiences through games. We’re actually creating interesting use-cases in these amazing virtual worlds, that people can understand and use—today :)
Witek: Yes, it’s possible to add custom metadata with the ERC-1155 Metadata JSON format. One could add a 3d model on IPFS, and then game developers could all choose to use that model if they like.
Maxim: 1 billion only, with a decreasing supply as more assets are created and more ENJ is locked up.
Maxim: Kriptomat and GDAC exchanges are already using Enjin blockchain assets to reward and encourage user participation. There are plenty of options available for exchanges to utilize our tech.
Witek: Conscious biological machines.
Maxim: Efinity is a huge goal indeed. It will solve so many usability issues that most blockchain projects face. I cannot wait for version 1 of Efinity to release so we can make adoption 100x easier.
Maxim: Security, speed, the user experience, and just an extreme level of polish and attention to detail.
You can read our full third-party security audit report here.
Maxim: Our mission is to bring fairness and purpose to gaming, and real-life economies to virtual worlds.
Maxim: I hope so!
Witek: It helps in the long-term that we are becoming thought leaders in this area, and many companies are working with us because we’re experts in ERC-1155, being the authors.
I’d like to continue contributing to the Ethereum community in this way, as it will also help adoption on the wide scale. We see people implementing ERC-1155 now who we’ve never even spoken to, and these assets will be compatible with our Enjin products, so it’s a win-win for everyone.
Maxim: We’re the only platform right now offering this ability, and our tools will only get better and evolve fast to become the gold standard in asset creation, management and integration.
Maxim: Have a big ENJ party. But to answer this, games are dynamic, items will mint and melt, and this level of chaos will keep Enjin alive.
Witek: Our platform allows anyone to make their own marketplaces quite easily. In terms of our company, we’re working on a cool new type of marketplace on EnjinX that will be very natural to use inside of the explorer and Enjin Wallet.
Soon, it will be extremely easy to mint an asset and sell it, enabling people without any development experience to realize their ideas on the blockchain.
We’d like to extend a big thank you to Binance for hosting us, Darc for moderating—and, of course, the Enjin community for supporting us by voting, participating in the AMA, and for just generally being awesome.
Now, back to our regularly scheduled #BUIDLing.
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