Best Upcoming ICO: Gaming ICO Enjin Wins on Tech, Talent and Traction
Gaming is an industry that has taken to the blockchain, evidenced by a string of ICOs that have either debuted or are scheduled to begin soon, ranging from the TriForce ICO, to iCandy Interactive to the Enjin ICO. Of them, the best upcoming ICO is Enjin, whose issuer is a Singapore-based social gaming creation platform and whose sale of the ERC-20 and Bancor protocol ENJ token is counting down the hours till launch.
While there are plenty of ICOs out there that make cryptocurrencies as an asset class look bad, Enjin, the best upcoming ICO, is one that does the market proud. The ENJ token and smart contract platform has a defined purpose, which is to give participants in gaming, including developers and creators of content, a cryptocurrency-backed value and tools by which to earn and trade the virtual goods across mutliple platforms.
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Meanwhile, monetization is a key issue for gaming developers, and it is something that is not lost on Enjin, which will make “monetization using Enjin coins a key focus.”
And while no investment is void of any risk, Enjin’s risk/reward profile is strengthened by its clear purpose and user base, which is the top reason why it’s the best upcoming ICO. Besides, gaming is a USD 108.9 billion industry today that’s projected to be worth USD 128.5 billion in the next three years. Here are more reasons in a nutshell.
Gamers have proven themselves to be a loyal community, evidenced by the sold-out ICO presale of the ENJ tokens. Enjin, a startup founded in 2009, already boasts 18.7 million gamers and millions of US dollars per month in “virtual goods sales,” according to the startup’s website. The blockchain-based gaming creation platform can be used across websites and games and is wildly popular with sandbox games such as Minecraft, which has access to some 55 million monthly users.
This connection between Enjin and Minecraft is reminiscent of the Candy Crush/Facebook dynamic, which attracted tens of millions of users and drove the parent company to generate hundreds of millions of dollars in annual sales. If there is a way to further build upon and leverage the user base and popularity of Minecraft, Enjin’s position will only be strengthened, as long as it doesn’t pigeon-hole itself to one game.
Gamers should also like that they can “take their cryptocurrency with them across any community or game and retain value,” as per the Enjin white paper.
Meanwhile, the best upcoming ICO Enjin has already raised USD 12 million from a sold-out ICO pre-sale of its ENJ tokens. In fact, those millions of dollars raised are another reason why we’re spotlighting the Enjin ICO. While there has been some fraud reported of late in the ICO market, Enjin is less likely to stoop to those levels if only for the level of professionalism they have representing the brand, including one well known veteran in the blockchain community.
Enjin has tapped Anthony Di Iorio, one of the Ethereum founders, for its board of advisors. Not only that but Di lorio has backed up his convictions with an investment in the blockchain-based gaming startup, which is another reason why Enjin is the best upcoming ICO.
“I am thrilled to aid Enjin Coin’s growth as an investor, as a Board Advisor, and by supporting the ENJ token in Jaxx,” said Di lorio in a blog post.
Enjin is based on the Jaxx mobile wallet in which gamers can hold or use their ENJ tokens, making the Enjin ICO’s technological appeal multifaceted.
There’s nothing investors like better than guidance and transparency as it gives them a glimpse into what to expect in the future, which takes some of the risk out of speculation. Enjin has tilted its hand on technology somewhat by disclosing a series of Ethereum-based milestones that are expected to make the network faster, which will make gamers feel right at home.
Enjin is built on the Ethereum blockchain, which is the top choice of networks among upcoming ICOs. Gamers are used to the speediest of websites and user interfaces, and Ethereum is getting there.
Enjin in its white paper outlined a series of milestones that are designed to make Ethereum faster. Updates scheduled for year-end 2017 and early 2018 are expected to “improve block times up to 3 seconds (Ethereum Casper) and allow transfers within milliseconds (Raiden),” according to the Enjin white paper.
Enjin is expected to trade on the Tidex exchange to start and to be compatible with the Bancor protocol, which will bolster liquidity to the ENJ token after once the upcoming ICO has completed its token sale. This should provide a level of confidence to buyers of the ENJ coin because it increases the chances there will be a buyer on the other side of the transaction if and when they are ready to sell, another reason why Enjin is the best upcoming ICO.
The views expressed here are my own opinions.