Enjin NFT Marketplace Review

Are you interested in gaming and NFTs? Well, there's a platform that blends both of them, which I'd like to introduce you to in this Enjin NFT marketplace review.

So, what is Enjin? It’s a platform that offers a specialized marketplace for gaming-related NFTs, giving gamers an exclusive space to dive into the world of blockchain assets. With every NFT backed by Enjin Coin (ENJ), users benefit from real-world value and liquidity, setting it apart from traditional collectibles.

Unlike platforms like Binance NFT, which caters to a broader range of NFT services, the Enjin marketplace focuses solely on gaming-related assets. This makes it suitable for gamers, but it might not meet the needs of those searching for mainstream NFTs. Ready to level up your gaming experience? Let's explore the Enjin NFT marketplace review together!

What is the Enjin NFT Marketplace?

Let's first discuss the elephant in the room in this Enjin NFT marketplace review.

What is Enjin? It's a vast Web3 ecosystem that compromises blockchain, wallet, API, and the main topic of today's discussion—an NFT marketplace. Designed to cater to gamers interested in blockchain assets, the NFT marketplace is a more specialized platform with a specific purpose.

Launched in 2017, Enjin began its roots as a gaming community but has since then branched out to gaming-related NFTs. For 1 million users and counting (as of writing), Enjin is a seamless hub for gamers and NFT enthusiasts to trade, manage, and own in-game assets.

However, this alone doesn't fully answer the question of what is Enjin. Another aspect, just as important, is the Enjin NFT. It's more than just a digital asset. Enjin NFTs are known for bringing real-world value to the immersive world of digital games.

On the Enjin NFT marketplace, game developers and content creators mint in-game assets, such as items, weapons, and skins, as NFTs. Such actions are only possible with the role of the Enjin Coin, activating real money value.

With Enjin NFTs, trading in-game assets becomes smooth and efficient, allowing gamers to manage their digital items directly from their mobile devices without needing separate platforms or wallets. This seamless integration gives gamers greater control over their assets in one convenient place.

After all, what sets Enjin apart from other marketplaces is its deep integration with the gaming world. Gamers do not just buy and sell assets here; they can also use those assets to enhance their in-game experience.

By using the ERC-1155 token standard, Enjin NFTs allow developers to create both fungible (interchangeable) and non-fungible (unique) tokens. This flexibility opens up a wide range of items to be tokenized and traded within the ecosystem.

Admittedly, one of the strongest points in this Enjin review is how well the NFTs integrate with the broader Enjin ecosystem. Furthermore, with the Enjin wallet, you can store digital assets securely, trade NFTs within the marketplace, or even convert them back into ENJ.

Enjin NFT Marketplace Review: PROS

Now that you have an idea of what is Enjin, let’s take a look at how the platforms stand out to gamers and developers, kicking off with the pros. Taking into account the platform's strong focus on blockchain-based gaming assets, there’s a lot to explore here!

Built for Gamers

The Enjin NFT marketplace is designed specifically with gamers in mind. Beyond just offering digital collectibles, it empowers gamers to truly own, trade, and monetize their in-game assets. While these have been previously touched on in this Enjin NFT marketplace review, allow me to explain what they are in more detail.

Enjin goes a step further by supporting blockchain-based games like Lost Relics and Age of Rust, where players can earn rare items and convert them into NFTs with real-world value. By embedding NFTs and gaming, Enjin opens a whole new world of social interactions, empowering gamers with a higher sense of control and an opportunity at livelihood.^[1]

In Lost Relics, for example, players collect exclusive items in dungeons that can be traded as NFTs on the marketplace. Meanwhile, Age of Rust combines puzzle-solving with blockchain assets, allowing players to find items that unlock special game features or can be sold for ENJ.

For developers, Enjin offers SDKs that make it easy to integrate blockchain into games. This lets players experience a deeper connection to their in-game items, which they can trade across different games or even sell for ENJ.

The platform's focus on blockchain-based gaming assets makes it ideal for those who spend hours earning rare items on their favorite games. With Enjin NFTs, you can turn those hard-earned items into potential real-world value by trading them on the marketplace. 

In other words, it isn’t just about collecting NFTs; it’s about creating a whole new gaming economy where your achievements and assets have tangible worth.

Enjin NFTs enable gamers to truly own their digital items with the flexibility to trade or even liquidate them, offering a level of asset control and monetization not commonly found in traditional gaming platforms.

A Variety of Digital Assets

When discussing the Enjin NFT marketplace review, one major highlight is the impressive variety of digital assets available. This doesn’t just refer to standard digital collectibles, as the marketplace covers a broad range of game-related tokens and NFTs with real-world value.

The variety of digital assets on Enjin means you can find everything from weapons, armor, and skins that enhance your in-game experience. There are also rare items that hold significant value both inside and outside the game.

For example, you could find a rare sword in Lost Relics and trade it on the marketplace or unlock a unique ability in Age of Rust with an NFT that can also be sold to other players.

In short, the Enjin NFT marketplace offers a rich selection of assets that extend beyond simple collectibles.

Ease of Use

Another standout feature in this Enjin NFT marketplace review is how user-friendly the platform is. Whether you're an experienced trader or completely new to NFTs, navigating the marketplace feels effortless, thanks to its intuitive design.

First, the integration of the Enjin wallet enhances ease of use by integrating directly with the Enjin NFT marketplace, making transactions seamless. With the Enjin wallet, you can manage, trade, and mint NFTs in one place without switching between platforms.

For those who prefer browsing in low-light settings, the wallet’s dark mode makes the experience more comfortable by reducing glare, which helps users avoid eye strain. Plus, it adds a sleek, stylish look to your browsing experience, suitable for extended sessions on the marketplace.

Moreover, whether you're using the Enjin app or the website, switching to the dark mode can make navigating and trading feel a lot more comfortable, especially during long sessions.

Another standout feature of Enjin NFT is the ability to interact with decentralized applications (dApps) and DeFi swaps, also via the wallet. This integration is important because Enjin NFT users can directly connect their digital collectibles to various games or blockchain-based services.

Admittedly, the combination of ease of use, dark mode, and dApp interaction makes the Enjin marketplace a versatile platform for both beginners and advanced users. It offers everything you need in one place, making the entire experience feel smooth and hassle-free.

All Assets Backed by the Enjin Coin

As we’ve explored further, what is Enjin becomes clearer—it’s a comprehensive blockchain ecosystem powered by the Enjin Coin. This ecosystem enables the creation and trading of digital assets to gain potential real-world value.

Now, imagine this: every single NFT you see on the Enjin marketplace is backed by the Enjin Coin. What does that mean? Let’s find out in this Enjin review.

Each asset isn’t just a cool digital art or a rare in-game item. It holds real, tangible value. Why? Because every NFT can be "melted" down, allowing you to reclaim the ENJ locked inside it.

So, if you ever find yourself no longer needing that rare sword or digital collectible, you can easily liquidate it and obtain cryptocurrency in return. This flexibility is just one of the many features that make the Enjin ecosystem stand out.

When NFTs are minted using ENJ, each one is scarce and traceable, helping to build trust among traders and collectors. Everyone can see exactly what’s backing each asset, and that openness gives confidence to buyers and sellers alike.

With each Enjin NFT backed by ENJ, users gain the flexibility to trade or cash out their assets anytime, adding liquidity that traditional gaming platforms lack. This means gamers aren’t stuck with items that might lose relevance or popularity over time. They always have the option to reclaim value from their digital items, a unique advantage Enjin brings to the gaming economy.

Beyond individual transactions, the Enjin Coin is considered one of the key tokens in the metaverse economy^[2], supporting blockchain transactions and NFTs in various games.

Moreover, the Enjin Coin plays a key role in transactions, governance, and minting. Whether you're buying, selling, or even voting on key community decisions, ENJ is at the heart of it all.

In short, having Enjin Coin as the backbone of the marketplace creates a win-win scenario for gamers, collectors, and creators. It's not just about owning a digital asset; with Enjin, you’re holding something that carries real-world value, ready to be redeemed whenever you decide.

Buy Digital Assets in Two Clicks

To be honest, one of the things users appreciate about the Enjin NFT marketplace is how fast and simple the process is to buy NFTs. You can purchase digital assets in just two clicks, but how does it work?

Well, it’s all thanks to the Enjin wallet integration. You don’t need to switch between apps or go through complicated steps—everything is seamless. Once you find the item you want, you can buy it right through your wallet.

Using Enjin Coin for transactions simplifies and accelerates the payment process within the Enjin ecosystem. Since ENJ transactions bypass traditional fiat gateways, users experience a more streamlined and efficient process.

With ENJ readily available in your wallet, purchasing in-game items or rare NFTs becomes straightforward, offering an experience that feels intuitive and familiar, especially for those accustomed to online shopping.

Plus, since all trades are happening on the blockchain, your transactions are secure and transparent, giving you peace of mind while trading.

In short, the Enjin NFT marketplace makes purchasing assets a breeze. Two clicks, and it’s done. This integration provides a straightforward and efficient experience for both gamers and NFT collectors, allowing them to complete transactions quickly and seamlessly.

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Enjin NFT Marketplace Review: CONS

No platform is without its flaws. As we explore the Enjin review further, it’s important to highlight some limitations that may not appeal to everyone. While Enjin NFT provides fantastic features for gamers, it does come with a few drawbacks.

Let's explore those areas in more detail.

Limited Popular NFT Projects

As I’ve mentioned earlier, while Enjin NFT marketplace excels in the gaming sector, it doesn’t include many of the high-profile NFT collections like CryptoPunks or Bored Ape Yacht Club. 

So, if you’re looking for those big-name NFTs that make headlines, you won’t find them on this platform. Instead, I'd suggest exploring Kraken NFT. There, you can find many mainstream projects, like the recent sensation Reddit collectibles.

However, if you love both gaming and NFTs, Enjin is well-suited for you. On one platform, you can find many game-related assets and utility NFTs, which are useful to boost your gameplay. If you recall an example in this Enjin NFT marketplace review, some of those gaming collectibles include weapons and skins on blockchain games.

All things considered, is Enjin the right NFT marketplace for you? Well, it depends on the type of digital assets you like to collect. Are they gaming NFTs, or those created by well-known artists, or perhaps retro punk-style digital art? If you're into the former, you may not need to look elsewhere than the Enjin NFT marketplace.

Language Limitations

Now, here's something else to consider in this Enjin NFT marketplace review: language support. The Enjin NFT marketplace now only supports English. For payments, you will need the Enjin wallet (which has recently upgraded to 2.0). This wallet, however, currently supports only a few languages like English, Filipino, Romanian, and Japanese.

If you're looking for support in languages like Russian or others, you might find this to be a potential roadblock in your NFT transaction journey. The team is actively working on expanding language options, but for now, the limited language coverage can pose a barrier for non-English speakers.

With that being the case, the Enjin ecosystem is still packed with features, but improvements in language accessibility will be crucial as the platform continues to grow.

Enjin NFT Marketplace Fees

When it comes to understanding the costs associated with using the platform, let’s also take a look at the various fees involved. Figuring how much you'll spend, after all, is as important as understanding the pros and cons in any Enjin NFT marketplace review.

Here’s a closer look at the key elements of Enjin NFT marketplace fees:

• Transfer Fee. Every time you transfer an NFT on the Enjin marketplace, there’s a flat transfer fee. The sender pays this fee and goes directly to the creator of the NFT. This ensures that creators earn a portion from each transaction involving their asset, whether traded or gifted.
• Per-Item Fee. This fee is calculated based on each object being transferred. So, if you’re moving multiple NFTs at once, you’ll pay a separate fee for each item. The fee you've paid also goes back to the original creator, adding another compensation layer for their work.
• Gas Fees. One study finds that 43% of NFT buyers abandon purchases due to high gas fees. In Enjin's case, just like any others, gas fees really depend on the network activity. But with Enjin's Fuel Tanks, you can cut down these fees by 70%.

• Ratio Cuts. Essentially, a ratio cut refers to a percentage of the items being transferred that is automatically redirected back to the creator. For example, if you send 10 NFTs, a small portion may be returned to the creator as part of the transfer, depending on the set ratio.
• Ratio Extras. Although it has some similarities to ratio cuts, ratio extras come directly from the sender rather than the total items being transferred. It’s a percentage that is deducted from the sender and given back to the creator. Both ratio cuts and extras help ensure that creators continue to benefit from secondary sales of their work.
• Marketplace Fee. A standard charge that applies when you buy, sell, or trade assets on the Enjin marketplace. The marketplace fee helps cover the operational costs of the platform, ensuring that transactions remain secure and efficient within the Enjin ecosystem.
• Royalties. Enjin ensures NFT creators receive royalties for their work automatically and reliably without relying on third-party marketplaces or collectors to honor royalty agreements. In other words, these royalties are embedded by the creator into Enjin's underlying technology, hovering between 5% to 10%.

By understanding how each fee works together, users can better plan their transactions on the Enjin marketplace and avoid any surprises.

Keep in mind that those fees can add up quickly. For example, every time you transfer or sell an NFT, not only will you deal with standard transaction fees, but you also have to account for these additional charges. It's important to be aware of how these different fees stack up.

In the end, it’s all about being informed and making sure you know what costs to expect.

How to Use the Enjin NFT Marketplace?

Now that you’ve arrived at this point of the Enjin NFT marketplace review, I’ll walk you through the basics of how to use the platform. Whether you’re looking to buy, sell, or even create your own NFTs, the process is fairly straightforward once you get the hang of it.

Here's a quick guide to help you get started!

Log In

So, first things first: how do you log into the Enjin NFT marketplace?

Step 1: Head over to Enjin.io and navigate to "Technology" on the main menu.

Step 2: From there, select "Enjin Marketplace".

Step 3: You’ll need to use the Enjin wallet app to complete transactions, so make sure you’ve downloaded it and connected your account. Once that’s done, you’re ready to explore the marketplace.

Buy NFTs

Now that you're logged in, let’s dive right into how to easily buy NFTs on the Enjin NFT marketplace.

Step 1: Browse the marketplace and find the NFT you want to purchase.

Step 2: Click on “Make Offer”. A window will appear, displaying the listing price in ENJ (converted to USD as well), along with details about the seller and the number of NFTs available.

Step 3: If the NFT has multiple sellers, select the one that suits your price range before completing the purchase. You’ll scan the code and finalize it the same way.

Step 4: A QR code will appear. Open your Enjin wallet app, scan the QR code, and confirm the transaction. The NFT will then be transferred to your wallet.

That’s it! You now know how to buy your first NFT on the Enjin marketplace, making it easier to get started with collecting and trading digital assets.

Sell NFTs

If you’re looking for a straightforward guide on how to create and sell NFTs in this Enjin NFT marketplace review, I will walk you through the essential steps. For this, you'll need to use your mobile phone to proceed.

Step 1: Open your Enjin wallet app, navigate to your collection, and select the NFT you want to sell.

Step 2: Click on “Sell”. You’ll be prompted to fill out the listing details, such as the price in ENJ and the transaction fee you’d like to set.

Step 3: Once that’s done, click "Confirm Listing", and your NFT will be available for others to buy.

Create and Mint NFTs

Now, if you’re interested in creating and minting your own NFTs, follow the steps in this Enjin NFT marketplace review.

Step 1: In your dashboard, go to "Tokens". The menu is available on the left panel. Then, click on the specific collection, and a dropdown will appear. Click "Mint".

Step 2: Set the recipient and fill in the corresponding fields.

Step 3: Check for the transaction request in the "Transactions" menu. Since this transaction is categorized as a mutation, the transaction has to be signed with the Enjin wallet or other supported options.

And there you have it—you’re ready to start creating and selling NFTs on the Enjin marketplace. Happy minting!

Conclusions

To wrap up this Enjin NFT marketplace review, it's clear the platform shines in its appeal to gamers and blockchain enthusiasts. With a strong focus on game-related assets and seamless NFT integration across virtual worlds, Enjin delivers real-world value to their in-game items.

The marketplace empowers both developers and players with a user-friendly platform where digital assets can be bought, sold, and created. However, despite its strengths, Enjin’s focus on gaming may leave mainstream NFT collectors wanting more, especially with the absence of high-profile collections.

Additionally, its reliance on ENJ may not appeal to those looking for more payment flexibility or to avoid gas fees. In short, while Enjin is great for gamers and blockchain lovers, platforms like Binance or Kraken NFT offer a wider range of assets and payment options for traditional NFT collectors.

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Scientific References

1. Packin N. G.: 'The Nexus of Gaming and NFTs: A Deep Dive Into the Future of Digital Interaction';

2. Chan S., Chandrashekhar D., Almazloum W., Zhang Y., Lord N., Osterrieder J., & Chu J: ‘Stylized facts of metaverse non-fungible tokens’;