Enjin is a comprehensive NFT solution that enables anyone to create and launch their non-fungible tokens and related projects. Its technology empowers creators to grow, monetize, and innovate the business opportunities of NFTs.

Enjin allows you to create, distribute, and integrate your projects with other decentralized applications running on blockchain technology. The platform, based on Ethereum, offers an easy-to-use interface for designing feature-rich NFTs.

Enjin also enables creators to develop faster, zero transaction fee, and environmentally friendly NFTs on the JumpNet platform. Additionally, Enjin users can add reveal codes within their creations, which function as virtual scratch cards, offering discounts, product keys, and more to NFT owners.

Enjin Coin (ENJ) is the utility token of the Enjin ecosystem and serves as backing for the NFT assets created on the platform. NFT owners can melt their non-fungible tokens for ENJ at any time. ENJ is also used to establish proof of ownership and authenticity for each NFT minted on Enjin.

Enjin Coin is an ERC-20 token built on the Ethereum blockchain and is one of the two tokens utilized within the Enjin ecosystem. The second token used by the NFT solution is Efinity Token (EFI).

The purpose of Enjin Coin is to provide value backing for the NFTs created using the Enjin platform, including digital collectibles, digital art, and music. Each NFT minted on Enjin can be melted back to ENJ, making the cryptocurrency a store of value.

The circulating supply of ENJ is controlled through the melting process, ensuring token scarcity and supporting its market value. Enjin NFTs backed by ENJ offer a more tangible value for creators and owners, distinguishing them from most other NFT solutions in the crypto market.

Enjin Coin has a fixed total supply and circulating supply of 1 billion. As a limited and valuable cryptocurrency, the ENJ token not only supports the value of each NFT developed on the Enjin platform but also regulates asset creation.

The Enjin project traces its origins back to 2009 with the establishment of the community gaming platform Enjin Network. While Enjin Network continues to offer services for developing gaming-related websites, forums, and apps, the Enjin platform emerged as a separate entity when the company ventured into the blockchain space in 2017.

Enjin launched on the Ethereum blockchain through an initial coin offering (ICO) that raised $18.9 million. The Enjin Wallet, initially released for Android in January 2018, expanded to iOS a few months later.

In February 2020, the Enjin platform's mainnet was launched, followed by the introduction of the Enjin Multiverse Program in March 2020. The Enjin Marketplace underwent a redesign towards the end of the year.

In February 2021, the Enjin Wallet added support for Dogecoin, and in the following month, it added support for Polkadot. March 2021 saw Enjin conducting a private token sale for the EFI token to raise additional funds for the project.

In April 2021, development began on JumpNet, an Ethereum scaling solution that provides a more efficient infrastructure for creating and launching NFT projects. In June 2021, the developers announced that JumpNet had achieved carbon negativity, a significant achievement for energy-conscious NFT developers and consumers. The Efinity Rococo testnet was launched in March 2022, followed by the launch of Efinity on Polkadot in the same month.

Enjin Coin is a highly promising cryptocurrency to invest in, especially due to its focus on the emerging NFT sector. The Enjin platform provides a convenient solution for creating, distributing, and managing non-fungible token projects. As more NFT projects are developed and launched on the platform, the on-chain activity could increase, potentially driving up the value of ENJ. Additionally, as the use cases for NFTs continue to evolve, the demand for projects like Enjin could further increase. Overall, Enjin Coin has the potential to be a valuable asset for investment.

While making an accurate ENJ price prediction is challenging, several factors could impact the value of Enjin Coin. Firstly, an increased interest in NFTs and the discovery of more use cases for the technology could bring projects like Enjin into the spotlight, potentially driving up the price. Secondly, the adoption of Enjin's technology by NFT creators and consumers could contribute to higher on-chain activity and positively impact the value of ENJ. Lastly, the overall market sentiment, whether bullish or bearish, can influence the price action of ENJ.

It is unlikely that the Enjin Coin price would reach $100 due to the high circulating supply of the ENJ token. With a fixed supply of 1 billion tokens, a $100 valuation would result in a market cap of $100 billion, which is unrealistically high for the project. To reach such a high price, the project developers would need to modify the circulating supply through token burning or upgrade mechanisms. While a significant drop in supply could theoretically drive the price higher, it is not expected to happen in the near future.

ENJ is one of the native tokens used within the Enjin platform, alongside EFI. It serves several critical use cases, including being a utility token for backing NFTs created on Enjin. The scarcity of ENJ tokens increases as NFT owners melt their tokens into ENJ, which helps control the supply and support its value. Additionally, ENJ is used as the native currency for buying, selling, and trading NFTs on the Enjin Marketplace. It can also be traded against other cryptocurrencies and held as a long-term investment. Furthermore, ENJ holders can earn passive income by lending liquidity on platforms like BYDFi.

You can stake ENJ on crypto exchanges or DEXs that offer this service. To stake Enjin Coin:

1. Perform online research to find platforms offering ENJ staking with the best returns and reliability.
2. Open an account on the chosen platform and fund it with Enjin Coins.
3. Access the Stake feature, select the desired amount of ENJ tokens to stake, and choose the staking duration.
4. Confirm the transaction, and you can start earning rewards for staking Enjin Coin.