Blockchain Ventures, an investment arm of one of the most prominent institutions in the blockchain space, has made an equity investment into Enjin, a blockchain development company responsible for bringing over 40 games and apps to Ethereum Mainnet, with hundreds of budding projects initiated on Kovan Testnet.
Enjin’s tools make it easy for developers to create, manage and integrate blockchain assets into their software. Projects that want to use Enjin’s platform need to buy Enjin Coin, which they will infuse into the blockchain assets they create. This takes the Enjin Coin used off the market and effectively reduces the circulating supply.
Every asset created with Enjin’s tools is an ERC-1155 token backed by ENJ, which acts as a certificate of authenticity and guarantee of value. To date, over 59 million ERC-1155 assets have been minted using the Enjin Platform, resulting in 1% of the total supply of ENJ being locked in digital assets.
“We are extremely excited to announce our investment in Enjin,” said Samuel Harrison, Managing Partner of Blockchain Ventures. “Enjin is a rare example of a blockchain business with meaningful traction that decisively solves a problem that can’t be addressed in today’s centralized computing and database paradigm.”
Blockchain.com makes long-term investments in businesses using blockchain technology to provide product differentiation or enhanced utility, rather than leveraging crypto as a tool for financial speculation. Its investments include Origin Protocol, Sliver.tv, Securitize, Nodle.io, and DappRadar.
“We’re thrilled to partner with Blockchain, who has been a leader in this space for nearly a decade,” said Enjin CEO Maxim Blagov. “With their expertise and our blockchain ecosystem, we are in an excellent position to advance the industry and bring true ownership and real-life economies to the digital realm. We look forward to a fruitful, long-lasting partnership.”