The primary aim behind the conception of Blockchain Ventures is to help the focused adoption of blockchain technology across business segments and verticals. The company is supporting a host of new organizations that are using blockchain to power innovations and out of box ideas.
In the latest development, Blockchain Ventures has invested in the Enjin by buying an equity stake in the company. So that you know, Enjin is the leading blockchain gaming company in the world that has more than 40 games and applications to its credit on the Ethereum network. Revealing this news, Blockchain Ventures said that it is very exciting to be associated with the Enjin, and this is going to be a great era for blockchain technology in the gaming segment.
Reasons Behind Partnership
The reason behind the equity investment in Enjin is the state of the art capabilities of the Enjin. The company has very skillfully created “Multiverse,” which allows the players to own assets in the game. It is a very innovating feature, and its popularity is on the rise right from the day it was included in the package. Users can also use these assets in several other games, which is further helping the popularity of Enjin.
Along with the “Multiverse” feature, Enjin has also included features like a Rich wallet, Ethereum token (ERC-1155), airdrop product, and a block explorer and marketplace. All these features are not only helping the popularity of Enjin but also helping the cause of blockchain adoption among the masses.
One-stop Blockchain Solution
The all-in-one blockchain platform that the Enjin use for the development of its gaming network is also a draw for investors. This blockchain platform allows developers to use the technology even if they lack the requisite skills. It, in turn, is helping the platform to have more developers while it pushes for the integration of blockchain technology in the gaming sector.
Another first-in-industry feature is the token economic model invented by Enjin. Under this model, in-game items are locked with Enjin Coin (ENJ) and the non-fungible token, quite a unique and innovative concept in gaming history. Using this feature, users can go for both price discovery and value recovery, which is quite an interesting challenge when it comes to the non-fungible tokens (NFTs). These features have resulted in an enhanced level of interest from users in addition to providing new growth avenues to the company. Users can easily avail higher incentives while token holders get the sway in terms of items ownership.
Blockchain Ventures further added that the company is quite excited to be in partnership with Enjin and offers its full support in expanding the usage of blockchain in virtual economies and the gaming segment.