Coincheck collaborates with Enjin to enable the handling of NFT

In the statement, Coincheck stated that it was looking for companies that will participate in the NFT marketplace that will be available on the platform's robust crypto trading network. The statement read,

NFT Marketplace

Coincheck began studying the NFT Marketplace in August 2020 to deploy it on the platform. The NFT marketplace will provide an environment where companies dealing in NFT can interact easily and transparently with customers. Companies that enroll in the marketplace will have access to over 2.8 million registered users on Coincheck, which will help with further distribution of the NFT token.

Coincheck stated,

Popularity of NFT

Non-fungible tokens (NFT) allows for the non-substitutable right of ownership and is powered by the Enjin platform. With the thriving gaming industry, users can exchange NFTs of characters with crypto assets or movables such as artwork or cars. NFT has also been used for distribution and lending services.  Every NFT usually has a varying level of requirement for eligibility.

About Enjin

Enjin was founded in 2009, and its an issuance platform for the ERC-1155 token standard. Developers can use the platform to issue NFTs and feasible tokens. Its gaming platform has over 20 million users and managed to raise $18.9 million in 2017 through an ICO. The platform is not limited to gaming companies, but it's open to all blockchain enthusiasts.