What is ENJ
ENJ is the ERC-20 utility token for Enjin, a decentralized application (DApp) development ecosystem providing game developers, content creators, and gaming communities with crypto-backed value and tools for implementing and managing virtual goods on the Ethereum blockchain using Non-fungible Tokens (NFTs). Each NFT minted on the Enjin JumpNet platform can be melted back to the underlying ENJ coin, meaning that all NFTs based on Enjin Coin maintain real-life value. In-game items are created and destroyed in five steps: Acquisition (developers buy ENJ) Minting (developers create in-game items using the purchased ENJ) Gaming (players acquire tokens and use them in-game) Trading (players trade tokens with other players) Melting (players sell tokens for ENJ). Enjin Smart Wallet is the platform's native wallet application allowing players to store and trade items.