First Minted ERC-1155 Tokens Backed by Over 3.8 Million ENJ

Enjin, the popular social network and blockchain platform for gamers, has announced deployment of their highly-anticipated smart contracts to Ethereum’s mainnet. Developers can now easily mint their own ERC-1155 tokens to take the form of game items, collectibles, and in-game currencies.

A groundbreaking token standard, ERC-1155 enables the bundling of complex transactions and creation of fungible, semi-fungible, and non-fungible tokens using a single set of smart contracts. This efficient and flexible design has grabbed the attention of blockchain enthusiasts, many of whom praise ERC-1155 as the next evolution of token standard to replace ERC-20 and ERC-721.

Of the many new functions enabled by Enjin Coin’s smart contracts, the ability to back ERC-1155 tokens with ERC-20 tokens is key for users. This function gives ERC-1155 token holders the ability and freedom to destroy their token(s) at any time and retrieve the Enjin Coin from within. With first set of ERC-1155 tokens created backed by more than 3.8 million in ENJ, this function will prove extremely valuable to users.

ERC-1155 will also prove extremely useful for developers, who will soon have the power to add cryptocurrency-backed items to their games without having to write a single line of blockchain code. Enjin’s platform will be the first modular token creation tool to offer plug and play functionality, allowing even developers without any blockchain development experience to create complex token designs and economies.

For developers, this application of blockchain technology provides innovative ways to monetize, promote, fund, and secure their games while delivering exciting new forms of economic gameplay. With Enjin’s smart contracts, developers will be able to utilize their in-game assets across multiple platforms, implement lifelike economics into their gaming worlds, and set transaction fees on all trades—including those made on third-party platforms.

Users will soon be able to manage their ERC-1155 tokens using the Enjin Smart Wallet, hailed as the most advanced cryptocurrency wallet in the world. Enjin will also release their next generation blockchain explorer EnjinX, which will eventually enable the rich data contained in ERC-1155 tokens to be viewed by users and integrated into web-connected devices through advanced application programming interfaces.

Games like War of Crypto (PC, Android, and iOS), and 9Lives Arena (PC, Xbox One, and PlayStation 4) have already announced plans to adopt the ERC-1155 standard to tokenize their games’ heroes and sidekicks.

Enjin’s Blockchain Software Development Kit (SDK) is also slated to be listed on the front page of the Unity Technologies Asset Store. The Blockchain SDK will enable 4.5 million Unity developers to mint ERC-1155 crypto items and manage advanced gameplay mechanics through transactions on the Ethereum blockchain.

About Enjin Coin (ENJ): Enjin.com is a social gaming community with over 20 million users. Enjin Coin is a cryptocurrency created to give developers access to Enjin’s blockchain toolkit, which can be used to mint powerful ERC-1155 tokens that represent tangible and intangible assets. All tokens created using Enjin Coin’s platform are more advanced as a technology than any existing ERC-20 token, including Enjin Coin itself. Acting as a digital gold standard, Enjin Coin is placed inside ERC-1155 tokens to certify that they were created using Enjin’s platform and can therefore plug into Enjin’s ecosystem of smart contracts, SDKs, APIs, wallet, blockchain explorer, and scaling solution. For more information, visit enjincoin.io.

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