23 October 2019, LONDON — Blockchain.com Ventures, the venture capital fund of cryptocurrency technology company Blockchain.com, has made an equity investment into Enjin, a leading blockchain development company responsible for bringing over 40 games and apps to Ethereum Mainnet, with hundreds of budding projects initiated on Kovan Testnet.
Enjin offers a suite of integrated products that enable developers to create and integrate blockchain assets into their games, apps, and other software with ease. The Enjin ecosystem is fueled by Enjin Coin (ENJ), a utility token used to back the value of Enjin-powered blockchain assets.
Blockchain.com Ventures makes long-term investments in businesses using blockchain technology to provide product differentiation or enhanced utility, rather than leveraging crypto as a tool for financial speculation. Its investments include Origin Protocol, Sliver.tv, Securitize, Nodle.io, and DappRadar.
“We are extremely excited to announce our investment in Enjin,” said Samuel Harrison, Managing Partner of Blockchain Ventures. “Enjin is a rare example of a blockchain business with meaningful traction that decisively solves a problem that can’t be addressed in today’s centralized computing and database paradigm.”
Because they can be stored, sold, and traded outside of gaming servers, blockchain-based gaming assets can be used to boost user acquisition, retention, engagement, and game monetization strategies in innovative new ways. Game developers have already used this technology to raise nearly a million dollars in crowdfunding by providing supporters with tokenized gaming items. These next-generation assets are now being traded on decentralized marketplaces like the Enjin Marketplace, allowing them to reach new users and audiences.
Every asset minted with the Enjin Platform is an ERC-1155 token backed by ENJ, which acts as a certificate of authenticity and guarantee of value. To date, over 59 million ERC-1155 assets have been minted using the Enjin Platform, resulting in 1% of the total supply of ENJ being locked in digital assets.
“We’re thrilled to partner with Blockchain, who has been a leader in this space for nearly a decade,” said Enjin CEO Maxim Blagov. “With their expertise and our blockchain ecosystem, we are in an excellent position to advance the industry and bring true ownership and real-life economies to the digital realm. We look forward to a fruitful, long lasting partnership.”
About Blockchain Ventures
Blockchain Ventures is a venture capital fund and a subsidiary of Blockchain, the leading provider of cryptocurrency products and creator of the world’s most popular crypto wallet. The fund supports and invests in cryptocurrency and blockchain technology projects that advance the industry and provide positive societal impact. With support from its parent company, Blockchain Ventures is helping create an open, fair, and accessible financial system and promote use-cases that are revolutionary beyond finance. For more information, visit https://www.blockchain.com/
In 2009, Enjin launched the Enjin Network, a gaming community platform which boasts over 20 million users. In 2017 following a successful ICO that raised $18.9 million, Enjin began building a suite of blockchain products that enable anyone to easily create, manage, trade, store, explore, distribute, and integrate blockchain assets.
Comprised of the Enjin Platform, Explorer, Wallet, Beam, and other tools and services, Enjin’s tools enable game developers and studios to utilize tokenized digital assets as part of their acquisition, retention, engagement, and monetization strategies. The Enjin ecosystem is fueled by Enjin Coin (ENJ), an Ethereum-based cryptocurrency used to directly back the value of Enjin-powered blockchain assets. For more information, visit https://enjin.io.