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October 30, 2023

Enjin to Launch Fuel Tanks and Subsidize All Blockchain Transactions for 3 Months

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Enjin to Launch Fuel Tanks and Subsidize All Blockchain Transactions for 3 Months

Fuel Tanks are set to become usable in the Enjin Wallet this December and, to celebrate, Enjin is proud to announce that it will be launching a network-wide Fuel Tank that subsidizes all transactions on the Enjin Blockchain for 3 months.

To reiterate, if you use the Enjin Blockchain during this time, you won’t have to pay any transaction fees whatsoever.

However, to maintain the sustainability of the Fuel Tanks, some restrictions will apply.

This will benefit Enjin Blockchain users in a variety of ways:

  • NFT Collectors: Can trade without transaction fees on NFT.io
  • NFT Creators: Can mint and distribute NFTs without transaction fees using NFT.io and Enjin Beam
  • Game Studios: Can process gas-free NFT drops using the Enjin Platform

The Enjin community is about to become the first to experience the power of Fuel Tanks at scale.

Fuel Tanks for Mass Adoption

Enjin’s Fuel Tanks are arguably one of the most important infrastructure-innovations in recent Web3 gaming history.

So important, in fact, that Singaporean food delivery service, Grab, is adopting a similar technology to provide NFT experiences to its 180 million registered users.

By paying for transaction fees on behalf of their customers, Game Studios can now use Enjin to onboard players who have never even heard of crypto.

Game and app developers can even choose to fully subsidize certain types of transactions forever, offering seamless on-chain experiences where customers can trade freely without even knowing what gas is.

Developers can cover the expense of running Fuel Tanks by using traditional in-app monetization models such as microtransactions or subscriptions. This provides companies with the opportunity to charge a markup over-and-above the gas prices and, therefore, earn revenue by making it easier for their customers to use Enjin’s blockchain.

This system is natively integrated into the Enjin Blockchain’s core runtime logic in a way that reduces overall transaction fees. In fact, fuel tanks decrease gas costs on Enjin by up to 70%, rewarding developers, creators, and studios for improving the user experience. This is a level of efficiency that is simply impossible to achieve on a smart contract-based blockchain, where this same logic can potentially double the gas fees.

Fuel Tanks in Action

Enjin’s Fuel Tanks come with extremely flexible rule sets that allow for a wide variety of interesting use cases and tailor a Fuel Tank for your exact purpose.

Here’s what you can do with Fuel Tanks:

  • Whitelisted callers: This allows you to select which wallets can receive subsidized transactions. This is especially useful for rewarding users of your game, app, or service.
  • Whitelisted collections: Use this to choose which collections will have their transaction fees covered. This will naturally drive more transaction volume to collections that don’t have to worry about gas fees.
  • Require token: Designate a token or NFT that a user must hold to access the Fuel Tank. This can be a fun way to give customers NFTs that provide access to free transactions.
  • Permitted Extrinsics: This allows you to choose which types of transactions should be subsidized. That means, you can tailor your Fuel Tank to promote very specific outcomes for your business. For example, if you want to increase the trading volume of your collection, you can choose to specifically subsidize marketplace transactions.
  • Permitted Calls: Similar to Permitted Extrinsics, except you can also define transactions based on specific inputs and parameters. For example, you could use this feature to encourage trading of high-value NFTs.
  • User fuel budget: This allows you to specify how much fuel can be consumed by a single user. It’s recommended to place these kinds of limitations on Fuel Tank usage to protect against exploits. Use reset periods to regulate daily, weekly, or monthly usage.
  • Tank fuel budget: This function enables you to define how much fuel can be consumed by all users, collectively. This regulates usage and ensures that the Fuel Tank will last longer.
  • Max fuel burn per transaction: Use this to set how much fuel can be consumed in a single transaction, making your Fuel Tank expenditure more predictable and sustainable.
  • Freezing: You can pause Fuel Tank usage at any time. This can be used as a safety measure, especially if you notice your Fuel Tank is depleting faster than expected.

Based on these rule sets, it’s obvious that Fuel Tanks will drastically improve the Enjin Blockchain experience, but they can even inspire new products and business models.

Fuel Subscription Services

Imagine if gamers could pay a monthly fee to have all of their gas fees covered, forever.

They could choose the right plan for them, sign up using their credit card, and they would never have to worry about gas again.

To achieve this, developers would need to set up a payment gateway, a Fuel Tank using the “Whitelisted Caller” rule, and a simple app to apply the whitelist to subscribed users.

Subscription-Based Games

Some live service games already use subscription fees as their core business model, for games like this it’s a no-brainer to cover trading fees for their subscribers.

These developers can exclusively whitelist their own collections, to ensure their players have the best experience when trading their tokens.

To do this, they would need to spin up a Fuel Tank using the following rules: “Whitelisted Caller”, “Whitelisted Collection”, and “Permitted Extrinsics".

Tokenized Fuel Tanks

Developers and entrepreneurs could set up Fuel Tanks using the “Require Token” rule, then mint NFTs that provide access to those Fuel Tanks – effectively selling NFTs that cover all Enjin Blockchain transactions for their holders.

It’s worth noting that in most jurisdictions, customers are allowed to purchase NFTs from any business using a credit card. This means, developers can set up ecommerce stores using platforms like Webflow and Shopify, where they can sell these Fuel Tank NFTs and get paid in their local currency.

This could be an easy way to simplify the process of onboarding users onto the Enjin Blockchain.

Onboarding Players Using Beam

In many cases, people only realize the magic of NFTs when they first receive an item and trade it.

That’s why we believe that the strategic use of Enjin Beam and Fuel Tanks could be the most compelling way to seamlessly onboard new users into gaming economies.

Giving players a sample of the game, economy, and trading experience by beaming them NFTs can be a great way to encourage them to delve deeper.

Games can display Enjin Beam codes on their websites with instructions on how to receive NFTs and trade them freely.

Users could simply click or scan to receive fun, interesting items that they can use in the games.

By setting up Fuel Tanks using the “Whitelisted Collection” rule, developers can then ensure the items provided can be traded quickly, easily, and for free.

This effectively provides players with the full experience of earning gaming items and trading them, with absolutely no barriers to adoption.

Then, if the players want to earn even more valuable NFTs to trade with, all they have to do is download the Enjin-powered games.

Enjin to Launch Fuel Tanks and Subsidize All Blockchain Transactions for 3 Months
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For details about the fuel tank promotion, please refer to this guide: http://enj.in/FTrules

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