• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Tuesday, June 3, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Enjin Coin Price Up 12% After Team Announces $100M Metaverse Fund

Paul Brabus by Paul Brabus
November 6, 2021
in News
Reading Time: 3 mins read
0
enjin price
23
SHARES
Share on TwitterShare on Facebook

Enjin Coin has been one of the top performers today on Crypto.com, registering a 12% gain in the past 24 hours. Let’s take a closer look at what Enjin Coin (ENJ) is and why the price is rising.

What Is Enjin Coin?

Founded in 2009, ENJ is the ERC20 token powering the Enjin Platform. The goal of the Enjin Platform is to:

“make it easy for individuals, businesses, and brands to use non-fungible tokens (NFTs).”

Moreover, ENJ is used to back the value of NFTs minted on the Enjin platform. Enjin is currently focusing on the NFT side of things as anyone can now buy, sell and trade NFTs on the platform. The goal is to make NFT accessible to anyone and make it easy for everyone to participate in the NFT ecosystem.

Why Is Enjin Price Rising?

Enjin’s most recent announcement has to do with the $100M Metaverse Fund.

Enjin said: “Today, we formalize our approach to building out the cross-chain #Metaverse and our NFT ecosystem in a more systematic way.”

🌌Announcing the $100M #Efinity Metaverse Fund🌌

At Enjin, we believe the Metaverse should be decentralized.

Today, we formalize our approach to building out the cross-chain #Metaverse and our NFT ecosystem in a more systematic way: https://t.co/GfCMao5sTn pic.twitter.com/Se4iViW04L

— Enjin (@enjin) November 4, 2021

As all the media hype surround Facebook’s rebrand into Metaverse, Enjin believes that the Metaverse should be decentralized. That’s why they’ve built Efinity, a next generation blockchain for NFTs.

The Efinity Metaverse fund aims to help developers working on metaverse, gaming, NFTs, dApps, and a host of other projects to integrate into the Enjin decentralized ecosystem.

The Enjin team will be looking at projects to invest in and potential adopt on their own platform.

Forking over $100M to support developers working on their platform is a huge announcement for the Enjin community. It’s no surprise that Enjin’s price increased as a response to the newly created fund.

Enjin Coin Price & Tokenomics

Enjin has a total market cap of $2.85B placing it the top 61 largest crypto on the market.

enjin price
Source: CoinGecko

Looking at the 1 year chart we can see that Enjin’s previous all time high was in May. This is an extremely critical point in Enjin’s market as the current price of $3.42 is a new all time high for ENJ.

If ENJ can hold support at this level and continue trading sideways that would be a good sign that Enjine is ready for takeoff. However, if the current price dips below $3.3 we might see short term bearish momentum.

Overall Enjin is an extremely reputable project that has been around since 2009, even if you lose in the short term the long term outlook of ENJ is extremely positive.

Follow us on twitter @thevrsoldier to stay up to date with the latest cryptocurrency news!

Previous Post

RugPull Coin – Rugs to riches ? Safer than corona vaccine ? From people for people #rugged

Next Post

Avalanche Price Gains 13% Setting a New ATH, $220M Fund Announced

Related Posts

Binance Beats SEC—Crypto Cheers the Legal Victory
News

Binance Beats SEC—Crypto Cheers the Legal Victory

June 2, 2025
Cardano Tanks 50% From Highs—Hope or Hype Ahead
News

Cardano Tanks 50% From Highs—Hope or Hype Ahead

June 1, 2025
Solana Price Prediction:Is the $200 Dream Dead
News

Solana Price Prediction:Is the $200 Dream Dead?

May 31, 2025
Featured

Netflix Casts Leads for FTX Drama

May 30, 2025
Featured

Trump’s Meme Coin Dinner Under Investigation

May 29, 2025
Altseason Is Here—But Only for a Few Minutes
News

Altseason Is Here—But Only for a Few Minutes

May 28, 2025

Press Releases

Binance Beats SEC—Crypto Cheers the Legal Victory
News

Binance Beats SEC—Crypto Cheers the Legal Victory

by Alex Mercer
June 2, 2025

Introduction From courtroom drama to crypto karma, Binance is having a moment. The SEC has officially pulled the plug on...

Read more
Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

May 25, 2025
Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

May 23, 2025
Dogecoin’s Ready to Bark Again—Could $0.30 Be the Next Fetch?

Dogecoin Ready to Bark Again—Could $0.30 Be Next

May 20, 2025
Ethereum Climbs While PEPE Reloads—Who's About to Explode

Ethereum Climbs While PEPE Reloads—Who’s About to Explode?

May 18, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier