Enjin Coin – Cryptocurrency For Games

Cryptocurrencies are changing financial system and the way we build applications in front of our eyes. I believe that cryptocurrency Enjin coin will reshape a good portion of “In game purchases” in free to play games.

Problem of free to play games

Most of gamers are not game developers and many of them have no clue how much time and effort is put into making a game. Many of them don’t understand how sanity vapes away, when a developer runs into a problem which is bugging him for a day or two… and in the end… the problem is solved by placing brackets in the correct positions.

For an example in a model of free to play games which is very popular in mobile gaming, developers try to repay their work by showing ads to players or by trying to sell them virtual items. Usually the developers who try to monetize their games by showing ads, receive negative feedback. We all know that games should not serve as a medium for flashing player’s eyes with irrelevant ads (diaper, car, bank, etc)… They really break the whole gaming experience.

Some players say that they’d rather pay a 1$ or 2$ to remove ads from the game, but the problem is that not all developers on google play store can offer in app purchases. One of those reasons can be that they don’t live in a country where they could open google’s merchant account etc.

IAPs also have a downside. There’s always a middle man who takes a “fair” fee. For an example if you want to buy special golden virtual cookies in a “cookie baking” game, you will be redirected to visa’s or paypal’s page where you’ll have to authorize payment and pay them processing fee from 1-3%. Imagine doing that dozen of times… You’re loosing money!

Even when you become an owner of that virtual item, once you stop playing the game, you can’t do a thing with it. It would be really nice if you could trade or sell it. That’s where Enjin coin comes in.

Enjin coin

In my point of view the biggest benefits that Enjin coin can offer:

Trade between gaming items from different games.

Decentralized payment gateway with no middle-man.

Transparent transactions.

No fraud, chargebacks, or cancellations.

Minimal fees for blockchain transactions.

Conversion of virtual goods directly back to Enjin Coins.

Platform agnostic currency.

Can they succeed?

Success of idea is highly dependent on the number of people that are willing to accept and implement it. Enjin coin has a huge community. Their origin comes from Enjin, which is all-in-one platform for creation of Minecraft, guild or clan websites.

They had a successful ICO and are active and transparent about their work. They have become the first platinum sponsor of godot engine and are working on SDKs for Unity3D. Once the SDK for Unity3D will be released, I’m sure we’re gonna try it out.

So can they succeed? I think yes! But in the end only time will tell.

You can read more about Enjin coin on their website or whitepaper.

Exchanges

You can get Enjin coin on Kucoin and Binance.

What about your opinion? Please let me know in the comments down below.