Enjin Coin Announces Multiverse Quest 8, Scheduled to Take Place from May 1 to 15

Enjin Coin price analysis

The price of Enjin Coin rose sharply on Wednesday as optimism in the crypto market continued. It rose to a new all-time high of $3.08, which was about 150% above the lowest level this year.

The gains were also driven by the upcoming Multiverse Quest 8 event, which will take place between May 1 and 15. The event will see four blockchain-integrated games being played on a single chain. The games are Lost Relics, Etherscape, The Six Dragons, and ENJ Excavators.

The games will span four different chains and will be announced on Monday, May 1. According to the statement:

"Announced today, Multiverse Quest 8 will take place from May 1 to 15 and will see four blockchain-integrated games being played on a single chain. The games are Lost Relics, Etherscape, The Six Dragons, and ENJ Excavators. Each game will span four different chains and will be announced on Monday, May 1."

Several government agencies are planning to apply blockchain technology in various sectors. For example, the U.S. government is planning to apply the technology in the food and beverage industry to enhance food safety and traceability.

About Enjin Coin

Enjin is a comprehensive platform designed around the intersection of blockchain and gaming. Spearheaded by Enjin, this ecosystem offers a suite of interconnected gaming products with the Enjin Network at its core, where users engage in social gaming activities, including the creation of gaming websites, clans, chat forums, and virtual item storefronts.

Central to Enjin’s functionality is its ability to let developers tokenize in-game items on the Ethereum blockchain. Through this mechanism, real-world value is imparted to these digital assets, enabling their purchase, sale, and trade on integrated marketplaces. This digitization process does more than just virtualize items; it brings transparency, verifies authenticity, and guarantees the scarcity of the tokenized assets, enhancing their inherent value and utility across various applications.

Serving as the backbone of the Enjin ecosystem is the Enjin Coin (ENJ), an ERC-20 token. This digital store of value is integral to the creation and backing of blockchain assets, especially non-fungible tokens (NFTs). Every NFT produced within the Enjin platform has ENJ embedded within it, effectively locking this value and removing the corresponding ENJ from the general circulation. This system not only ensures that the assets possess inherent value but also provides liquidity and introduces an anti-inflationary model. Furthermore, Enjin’s distinctive “melting” feature grants users the option to dissolve their assets, subsequently reclaiming the intrinsic ENJ.