Enjin partners with Beauty in the Street to tokenize dance moves
- The first NFT with be Snap Boogie’s Speedy Walkover and will be used in 3-D PCs and VR games.
- Per Enjin’s Simon Kertonegoro, NFTs will help artists market their intellectual property easily.
- Before this partnership, Huobi Global listed ENJ, pushing the coin’s price higher.
The Enjin blockchain platform has teamed up with Beauty in the Streets, a performing arts company that aims to offer street performers a chance to share their talents, to tokenize dance moves. A report unveiled this news on March 16, noting that this partnership seeks to let dancers create non-fungible tokens (NFTs) that are based on emotes (animated emojis). Reportedly, the NFTss would represent famous moves and mannerisms from a plethora of performers.
According to the report, the NFTs’ design will allow their sale on online platforms and live shows, allowing fans to purchase them. Apart from this, the NFTs can be used as emotes within specific video games and applications. The first NFT is a signature dance move from the founder of Beauty in the Streets, Cjaiilon Andrade, who is also known as Snap Boogie. The move is dubbed Speedy Walkovers and its NFT would be used to perform the move in 3-D computers or a virtual reality game entitled AlterVerse.
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Commenting on this fun achievement, Enjin’s vice president of developer success, Simon Kertonegoro, said NFTs are converting everything, including human movement, into a market. Tokenizing memorable moments as emotes would help transfer the joy people experience in the real world to the digital space.
Kertonegoro went on to note that despite the growing speculation on whether NFTs are a bubble or not, this project depicts how artists can create value by integrating their content in apps or games. In doing so, they get an opportunity to directly market their intellectual property to existing fan bases.
Huobi’s listing effect pushes ENJ price higher
This news comes after Huobi Global announced that it had listed Enjin Coin (ENJ) on March 15. Per the announcement, ENJ would have three trading pairs on the platform. These are ENJ/USDT, ENJ/BTC, and ENJ/ETH. Apart from this, the exchange disclosed that it would host two campaigns to reward users that deposit ENJ.
Reportedly, the first round started at 2:00 AM UTC on March 15 and ended at 2:00 PM on the same day. This campaign saw eligible customers share 30,0000 ENJ based on their total deposit volume. The second campaign kicked off at 2:00 PM March 15 and ended at 2:00 AM March 16. This round saw eligible users share 13,000 ENJ according to their net deposit volume.
Following this announcement, ENJ recorded significant gains to trade as high as £2.18 on the day of listing. However, the coin failed to maintain the bullish performance and made a downward correction on March 16 to close trading at £1.83. At the time of writing, the coin is down 2.86% over the past 24 hours to trade at £1.75.