Invest equivalent of 1 Eth into Enjin Coin (ENJ) Long term hold Purchase 1/25/22 Sell 3/30/22 Risk: Medium
Due Diligence As we know, the NFT and gaming industries are currently in a boom period as of late. Enjin has established itself as the bluechip of gaming cryptos. Founded in 2009 by highly credible people in the crypto and gaming space, their goal is to bring NFTs to the mainstream and make the available for everyone. They have a system in place where companies and users can upgrade NFT's based on their activity or certifications they may be granted. Microsoft currently has their system in place in their system "Azure". Link: https://enjin.io/showcase/azure-heroes Enjin is partnered with huge companies like Microsoft, Bancor and many different games. I believe the Microsoft partnership is really the key. As NFT's develop the Enjin token is going to get exposure in the massive gaming scene as well as the corporate side, creating a double whammy of utility and exposure. Their nft's are no-gas, which allows them to mutate and evolve as you play/ earn without any cost at all.
What is the coin used for? The coin is used to buy, sell and trade NFT's on the ENJ blockchain. Also it is used in ENJ based games as the currency. The value of the coin is directly tied to the usage of the ENJ blockchain which is evolving over time.
Lets talk risk Why I labeled this as a medium risk investment is because it is not a bluechip of the overall crypto space. It is a bluechip in crypto gaming, but this is a new facet of the market which is still being explored. I believe this will be the main platform in which NFT games are built, but there are competitors.
Conclusion Overall, ENJ is a solid investment into a new market of the crypto space. We have a chance to still be ahead of the herd and would love the chads to benefit from such.
Thank you, willrich