Enjin Coin (ENJ) is an Ethereum-based cryptocurrency used to directly back the value of next-gen NFTs.
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Owners can melt their NFTs back into ENJ, increasing confidence in the assets and faith in the projects that offer them.
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The ENJ stored within NFTs proves their origin and guarantees their compatibility with the Enjin ecosystem.
The perceived value of NFTs is directly correlated with their ENJ backing, making ENJ an effective gold standard.
When existing NFTs are melted, scarcity increases, thereby lowering the supply and increasing their value.
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Unlike other digital assets, NFTs backed by ENJ are created with something of value and can be destroyed anytime.
Because ENJ is a limited, valuable resource, backing NFTs with it is the only way to regulate asset creation.
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