Gaming

Enjin Coin Mintshop: Anyone Can Create Their Own Crypto Token

The world of cryptocurrency values may not be performing as well as it did for that amazing Q3 we saw in 2017, and we may not be seeing a replication of that crypto market boiling cauldron this year as many would have hoped. However, new blockchain solutions aside from digital currencies are very much alive, and arguably Enjin Coin has come up with one of the most ingenious solutions to date.

Mass adoption of blockchain tech and cryptocurrencies appears to be just around the corner, and to be honest, not many people saw this one coming.

Originally the Enjin Coin network was designed so designers can build their own blockchain games, but with its new Efinity network and minting application, the blockchain start-up is set to reach far beyond the blockchain’s online gaming sector.

Now you can use the Enjin Coin Mintshop app to create your own crypto tokens without having to hire a developer to design your version of an ERC-20 token standard. This would, in turn, negate the need for smart contracts to be developed because Enjin Coins new solution already does this for you.

Those that participate in the Mintshop network will still need to use the Ethereum network’s ERC-1155 standard via the Enjin Coin platform, which for most is not an issue.

For those not so keen on Ethereum’s ecosystem, then the reduced cost involved in using Enjin Coin’s platform will surely sway them as this is an out-of-the-box solution. 10,000 branded tokens can be purchased for prices as low as $0.03 in a matter of minutes with a wallet, token, and smart contracts already included.

Create Your Own Ethereum Based Tokens in A Matter Seconds

enjin-blockchainLand
Source: enjincoin.io

Businesses, freelancers, regular people – well just about anyone that want to – can now mint their own crypto tokens and brand them for their own business purposes.

Fungible coins can be created in which users have their own token name, image, description, and Ethereum address and can be exchanged with any other tokens as all tokens are identical. Alternatively, a non-fungible can also be minted which means that coin will be permanently branded as a unique ENJ coin, therefore the branding cannot be changed.

Another considerable advantage and cost saver is the fact that there is an Enjin Coin wallet that can be used by companies or individuals that want to take advantage of this brand new state-of-the-art crypto minting tech.

Also, going back to the expenses mentioned above of having to create an ERC-20 token, think about the costs involved if you wanted to create your own custom wallet to hold your version of those ERC-20 tokens – Mintshop additionally eliminates the need to do so.

Anyone can hold multiple ERC-1155 branded tokens in their wallet, and Enjin Coin’s Mintshop can be an ideal solution for those that want to do promotional partnerships on blockchain. This can open the door to campaigns such as the ones we’ve seen with GoPro & Red Bull.

You can see 13 example of co-branding promotions here.

It really could not be simpler. Log on, mint your coin, and distribute it via the pre-designed Enjin Coin Wallet. What’s more is the Efinity network is close to completion, which will connect anyone using the minting service, so that they can swap their blockchain based e-vouchers, collectables, tickets, and so on within seconds.

Read more about the Efinity network’s progress from Enjin Coin here.

How Will the Tokens Be Used By The General Public?

The original concept here is for people to use the tokens as rewards, incentives, vouchers for gifts, and even cash value vouchers that are specific to a company promotion. For example, McDonald’s recently did a similar promotion using its MacCoin. To celebrate the fast food chain’s half a century milestone anyone that has a MacCoin could use it to trade it in for a free Big Mac.

Other ways tokens can be used are as gift vouchers. Rather than wrapping up a gift voucher in an envelope and having to remember where you left it on that rainy day you decide to use it, the voucher will be stored on the Enjin Coin ecosystem.

Literally, these tokens apply to every industry you can think of. Airline reward systems, hotel deals, travel deals, and tokens could even be used to issues entrance tickets for sports or music events.

Integrating Token into Video Games

With a large number of solutions coming through over in the gaming industry, Enjin Coin was one of the first companies to see the potential of a gaming market predicted to be worth over $171 billion globally by 2025. Gaming developers can digitalise games or in-game assets, so now gamers can take ownership of their gaming items. With some tokens or forms of tokens becoming rare due to only a few being produced, the value of the digital assets could even rise.

This concept therefore, would be along the same lines as using the tokens as collectables, which can be used in any industry. Superstars can digitally sign their collectables, and baseball cards or World Cup football player stats and team collections could also form valuable collections.

Since the announcement of the new Mintshop solution, Enjin Coin jumped in value by 8,5% with its current market cap ranked at number 136 and valued at $38.3 million.

Related post:

CryptoKitties Dapper Labs Raises $15M To Develop The Future of Blockchain Gaming

James Donaghue

My name is James, but most people call me Jim. I am a proud father, I enjoy playing sports and I love to travel. Another hobby of mine is keeping a close eye on the blockchain and its development. I have been investing in cryptocurrencies since early 2017; however, my journey into the blockchain began in 2015, which stemmed from a career in FOREX. Since that time I have provided regular market data analysis reports on the financial performance of mainstream as well as lesser-known currencies and ICOs. More recently I have become a regular blockchain news writer and research contributor.

Related Articles

50 Comments

  1. Fans of sports in New York are allowed to place bets online from January.
    8th 2022. Four major operators have been granted
    licenses for mobile betting. They will be able to provide their
    services in a variety of ways.

    Also visit my webpage – gambling – Medicalstart.Biz

  2. Poker players have many new options thanks to the internet.
    Online poker has seen an incredibly increase
    in popularity over the last few years. Online poker is an excellent alternative if you
    love the game but don’t have the time to visit the casino.

    my website; Games (Ustanasor.Com)

  3. Betting online offers bettors as well as bookmakers many advantages.
    In addition to enabling people to place bets on their preferred sports betting websites also allow them
    to earn money. They offer a variety of options
    for depositing money.

    my web blog poker (mitrajudi.Net)

  4. Gambling online has gained popularity over the last
    decade. In 1996, there were just fifteen websites.
    In 1997, there were over 200. According to Frost
    & Sullivan, online Gambling (579Sj.Com) had
    brought in 830 million dollars in revenues in 1998.

  5. Online gambling has grown in popularity over the last decade.
    In 1996, there were only fifteen websites. By 1997, there were more than 200.
    According to Frost & Sullivan, online gambling had generated $830 million in revenues in 1998.

    Here is my web page – bets (https://gxhyxj.com/)

  6. There are many ways to treat for gambling addiction. Some of them involve one-on one counseling, medication, and lifestyle changes.
    If you’re unable to stop yourself from engaging in this behaviour it can become an addiction.

    Check out my website; experience; https://hljxxd.com,

  7. Online poker offers many advantages. Online poker is easy to
    play with no waiting lists and no second-hand smoking. You can also play a wide variety of games.
    You can also play your preferred game from the comfort of your own home.

    Feel free to surf to my homepage; Live (Youjiudian.Com)

  8. Online slots are a favored pastime for millions of players.

    This exciting and fun form of gambling is great way to pass the time or to make extra money.

    There are a variety of games to choose from , and even free games.

    Also visit my site – Gambler (Dizhang.Info)

  9. Poker players have many new options due to the internet.
    The popularity of online poker has increased significantly in recent years.
    Online poker is an excellent option if you like the game but don’t have time to go to an online
    casino.

    Feel free to visit my web blog :: games (artisanhomes.org)

  10. There are many advantages when you play at an online casino.
    It isn’t necessary to shell out a large amount of money.
    Online casinos often offer free games that players can play to determine which ones are the best.

    My site: Live – Poinku.site,

  11. You can pick the theme you like and play hundreds of online slots.
    While the payouts could differ however, they all adhere to the same mathematical formula.
    To find the ideal slot game for you, look for
    the “Auto Spin” option.

    Here is my webpage; Bets – poin.site,

  12. Sports fans in New York are allowed to place
    bets online since January. 8th, 2022. Four major operators have been granted licenses for mobile betting.
    They will be able offer their services in a variety
    of ways.

    Feel free to surf to my web site … gambling (inipoin.online)

  13. The internet offers a variety of benefits for both bookmakers and the bettors.
    Online betting sites allow people to place bets on favorite sports, and also earn them money.
    They offer a variety of deposit options.

    Visit my web-site :: Dealers (sbjmk.Com)

  14. Betting online offers bettors as well as bookmakers numerous advantages.
    Online betting sites allow people to place bets on favorite Sports (Free-Icons.Com) and
    also make money. These sites provide a variety of options for depositing.

Leave a Reply

Your email address will not be published.

Close