Blockchain.com Ventures Invested in the Decentralized-ledger-gaming Platform, Enjin
Blockchain.com Ventures, the capital fund, and sister unit of the blockchain development company Blockchain Luxembourg S.A. announced an undisclosed amount of investment in the project building and blockchain gaming company Enjin (ENJ).
Enjin provides blockchain support for gaming companies and over 40 different games and several individual NFT items. They enable developers to incorporate tradable virtual assets into their apps, Bitcoin games, and other software.
Blockchain Ventures team stated:
Enjin is a rare example of a blockchain business with meaningful traction that decisively solves a problem that can’t be addressed in today’s centralized computing and database paradigm. Enjin stood out before we even launched Blockchain Ventures as a platform with refreshingly novel functionality that creates a new paradigm for the gaming space where users truly own their in-game assets.
Reportedly, Enjin’s successful economic model was the magnetic force that influenced the investment decision of the Blockchain Ventures.
Enjin has been performing consistently well. In 2017 they raised $18.9 million during 2017 in investments by marketing its Ethereum-based indigenous tokens on their Initial Coin Offering (ICO). It has also acquired over 20 million user base.
Every asset created on the Enjin floor is an ERC-1155 token backed by the indigenous token of the ecosystem called ENJ.
To date, over 59 million ERC-1155 assets have been created via the Enjin Platform and comprise nearly 1% of the total supply of ENJ tokens being secured in digital assets, where it serves as a declaration of authenticity for the assets.