Enjin x Binance AMA
After winning a vote to be featured in an AMA hosted by Binance, Enjin Co-founders Maxim Blagov and Witek Radomski answered questions for thousands of Binance community members.
The Enjin Army always pulls through.
After winning a vote hosted by Binance, our CEO Maxim Blagov and CTO Witek Radomski were invited to participate in an AMA in the Binance Telegram channel.
With over 7,000 people tuned in, this was a prime opportunity for us to increase awareness of the Enjin blockchain ecosystem—and have some fun doing it.
Here’s what Maxim and Witek had to say.
For today’s Binance AMA session, we are happy to welcome Enjin! We have with us Maxim Blagov (Enjin Co-founder & CEO) & Witek Radomski (Enjin Co-founder & CTO).
Would you first like to kindly introduce yourselves?
Witek: I’m the CTO and one of the Co-founders of Enjin, and the author of the ERC-1155 token standard. I’ve been overseeing the tech direction of Enjin over the last 10 years.
Maxim: I’m Maxim, the Co-founder, CEO & Creative Director of Enjin, a company Witek and I founded in 2009. It’s been an amazing journey so far and getting more and more exciting each day :)
Thank you! I’m gonna start off with a few questions to give everyone time to download their Enjin Wallets.
I understand that Enjin Coin gets staked within all blockchain assets minted using the Enjin Platform. Can you explain how this works?
Maxim: Every blockchain asset or item minted in the Enjin Platform must have at least a small or a large amount of Enjin Coin(ENJ) staked inside of it, acting as both a certificate of authenticity and providing the minimum real world value to the asset.
For example, an item called the Monolith has 1,155,777 ENJ (approximately US $94,181) backing it.
Here’s what it looks like:
The creator of an item (usually the game developer) decides how much ENJ an item should be worth, and that amount is staked in a smart contract during minting.
Any person who holds that item in the future can “melt” it at any time to collect the ENJ — but melting the item will also destroy it, as well as its utility in games.
Remember: #MeltIsMurder
Millions of ENJ has already been locked into over 40 million items, and this is just the beginning of the adoption journey for ENJ!
Wow! The Monolith looks pretty epic!
Maxim: Who wants to win it? ;)
Enjin recently released the Enjin Platform, including your Blockchain SDK for Unity. Why are developers currently adopting these tools?
Witek: The Enjin Platform is the ultimate tool for creating and using ERC-1155 blockchain items.
Game developers can simply install the Blockchain SDK and focus on how these new kinds of assets work in their actual game code. They don’t need to build complex blockchain infrastructure, servers, nodes, databases, or tooling.
That’s what makes our platform so powerful — it makes blockchain development extremely easy to jump into.
Secondly, the concept of blockchain game item ownership is a game-changer for the industry. Players will experience a stronger connection to their favorite games since their actions and assets are “real” in a sense and can’t be taken from them.
Blockchain will also allow websites, mods, and communities to form around games in ways that weren’t possible before with closed databases.
Many forward-thinking game developers can see the massive potential this holds, and they want to create the next generation of games using blockchain technology.
Over 30 games have already started building with the Enjin Platform. The range of games is pretty amazing — RPGs, battle arenas, puzzle adventures. There’s even a VR skydiving racing game called Born to the Sky.
Also, we’re starting to see brand new game developers adopting the platform more rapidly in the last few weeks, now that the Blockchain SDK is available to the public.
Maxim: Quick correction: the Monolith is worth ~180K USD now.
Wow… You often refer to the Enjin Wallet as the most secure and feature-packed on the market. Which features are your favorite?
Maxim: I have quite a few favorites, so let’s see..
My number one favorite feature is the Samsung S10 Enjin Wallet integration.
We worked closely with the Samsung team to achieve what I feel is a marvel from both a software and hardware perspective. In my opinion, this innovation makes hardware wallets like Trezor and Ledger nearly obsolete.
Once you get your hands on an S10 and install the Enjin Wallet, it will be an instant “why hasn’t anyone done this before? this is an incredible innovation for the crypto industry.”
Unfortunately, it is currently only available in Korea, but will soon be opened in USA and Canada.
My 2nd favorite feature is actually not released yet but coming very soon.
I’ll give you a hint: it involves Binance Chain!
Extremely excited about this and this an exclusive bit of news just for this AMA. More details on this later.
In terms of current wallet features, Enjin Beam definitely has to be my other favorite. Just showing someone a simple QR code allows them to receive their first blockchain asset without any prior experience. I love how fun it is to hunt for the next Beam code and find new items to collect.
We will be posting an Enjin Beam QR during this AMA, so make sure you have the Enjin Wallet installed and be ready to scan the QR as soon as it drops. They don’t last long! (There are master QR hunters out there.)
Gotta be fast 😁 Why are people calling EnjinX the blockchain explorer for mainstream adopters?
Maxim: EnjinX was built to overcome the limitations we saw presented by the complexity and ad-focused nature of Etherscan and other blockchain explorers.
EnjinX is ultra-fast, extremely easy to use, and always ad-free. It’s pure and universal chain-ready, which creates an amazing user experience that propels mainstream adoption.
Next week, we will be releasing a huge update to EnjinX that will display and track all ERC-1155 assets—the gold standard for blockchain-based digital items.
Here is a preview for this AMA:
EnjinX is also highly adaptable.
Here is a custom Binance version of EnjinX—check it out, share it, and support ad-free websites.
Is the Enjin Platform only used for gaming, or are there other industries you believe will adopt your tools?
Witek: Hmm, well digital assets are such a universal concept that I’m quite certain dozens of other industries will adopt our tools. This has actually already started to happen over the last few months.
One example that comes to mind in the future is physical products and commodities being linked to digital assets in supply chains. Since ERC-1155 allows for such quick and easy creation of tokens in a single smart contract, it’s an ideal platform and standard for tracking such items on the fly.
Another powerful tool is Enjin Beam, which will allow for massive token promotions and airdrops in venues such as movie theaters, TV, streaming content, conferences, theme parks, and any other kind of in-person experience.
QR codes can even be easily printed on consumer products for this new kind of airdrop. We can see many industries using the power of this to add an interactive digital token linked to their existing service or products.
Distributing tokens like this is very affordable compared to other kinds of remarketing and can engage customers in a cool, futuristic way.
It’s going to be a completely new world.. there’s a very exciting future ahead.
Enjin Wallet API? Will there be something available?
Witek: We are building an extremely powerful API for EnjinX. This will allow game developers, web developers, and users to query multiple blockchains in a powerful way, not possible with existing blockchain APIs.
How has the recent exposure and success of the Enjin project affected yourselves and the team? Has it in any ways shifted your expectations, goals, or vision for the project both in the short and long term?
Maxim: There has been a great deal of exposure and it has helped push the vision of ENJ quicker towards our mass adoption goals. The plan remains the same, we’ve always focused on adoption from day one.
With the release our Unity SDK, game developers are now signing up with confidence and using our platform to mint and build blockchain games in a matter of weeks.
How can big publishers (compared to small developers) benefit from Enjin integration?
Maxim: ENJ-backed assets are going to add a major new dimension to gameplay and monetization in all types of games. Also, the multiverse will allow for amazing cross-promotion of games in a large publisher’s catalogue.
What are your plans with Binance Chain?
Maxim: We want to support everything that Binance Chain is doing. It’s an awesome step forward for the blockchain industry and will open up gateways of adoption like never before.
When Marketplace on Enjin Wallet?
Maxim: Very soon!
Maxim favorite game?
Maxim: King’s Quest I
Is Efinity going to be a side chain to Ethereum or a server behind the Trust Cloud Platform?
Witek: It’s a sidechain to Ethereum with some advanced features for games that haven’t been done before in existing layer 2 solutions.
What is the status of the Minecraft plugin?
Maxim: Almost done :)
What is your ultimate goal?
Maxim: A Ready Player One-like world powered by Enjin.
Will you ever move from Ethereum to say eos or tron…. different blockchain?
Maxim: No, Ethereum combined with Efinity will offer the perfect balance for digital asset creation and utility.
Do you plan to integrate a Marketplace on Enjin Wallet and if so, when?
Maxim: Yes, very soon.
Will there be an in-app ability to purchase crypto using Fiat?
Maxim: Eventually, yes.
When Samsung confirmed and can start using?
Maxim: Can already use Enjin Wallet S10 version in Korea.
How will game companies change the ENJ price of item in the game? Does it depend on the market price?
Witek: Game items can be sold by users or game developers for any price they want, in any currency. But the infused “melt value” of ENJ does not change per each minted item. We’re still thinking about potential future ways to allow for this, but for now it’s fixed ENJ per item type.
What is your long-term plan with your early adopters?
Maxim: To generate more adopters.
#AdoptionIsEverything
Why can’t you pay the fee/gas in the wallet with ENJ and you need ETH?
Maxim: Efinity will solve this issue. You may need nothing :)
Can virtual gift cards be produced with Enjin? +1 Kings Quest!
Maxim: Yes, already can be done with our Enjin Beam Reveal Code System.
Can we expect 20% of ENJ to be locked in assets this year?
Maxim: We will push for this goal. It will also depend on the price of ENJ somewhat.
Why did you choose the name ENJIN?
Maxim: Nothing runs well without an Enjin!
Is it possible to “tag” players in the blockchain inside the Multiverse, with or without tokens? This is, if a player cheats in a game that is part of the Multiverse, it would be great if he could be banned from all the games that belong to the multiverse. This will allow an extra layer of protection against cheaters and scammers.
Witek: Something like this would have to be done by individual game developers. If a developer wants to support some kind of log of cheaters, they can implement this into their game, similar to how “PunkBuster” worked for multiplayer shooters. But if other developers don’t want to restrict their possible client base, they don’t have to follow this.
When ENJ top 10 on CMC?
Maxim: Already top 10 in utility and adoption :)
How does ENJ differ from classic crypto? Do you have plans to persuade the average user that crypto is “good”?
Maxim: Yes, ENJ is hidden in many ways, and I foresee millions of users using ENJ based digital items without even knowing it exists. ENJ Adoption will lurk beneath us all.
Witek: Enjin is making the power of blockchain accessible to mainstream audiences through games. We’re actually creating interesting use-cases in these amazing virtual worlds, that people can understand and use—today- :)
Is it possible to create visualization standards or instructions along with the ERC-1155? So, if an item is minted and then a 3rd party wants to enable a trophy room for example. Could 3D modeling info be stored on IPFS for example and called up by the ERC-1155? So it will always render out the same no matter what game or wallet, etc. shows it?
Witek: Yes, it’s possible to add custom metadata with the ERC-1155 Metadata JSON format. One could add a 3d model on IPFS, and then game developers could all choose to use that model if they like.
Will there always be 1 billion ENJ? Or will it expand in the future?
Maxim: 1 billion only, with a decreasing supply as more assets are created and more ENJ is locked up.
What are the plans to use the 20 million user Enjin Network?
Maxim: Once the Minecraft plugin releases, we will be pushing adoption on all the Minecraft servers on Enjin and introducing them to the blockchain world.
How hard would it be to duplicate a collectible? If someone mints a token, can I screenshot that picture and mint the same token?
Witek: You could copy the picture, but the “forgery” collectible won’t be respected in any games or software. The real ID on the blockchain is permanent and is the license of true ownership.
Any other big company partnership besides Samsung?
Maxim: Lots of NDAs are being signed ;)
What if Enjin become big value in the near future, how will transfer fee of epic items. Will it be the same?
Witek: Transfer fees can be reduced by the token creator/game developer over time. There are rules and checks in place so they can’t be increased (to more than agreed upon in the contract initially).
Since so many Unity devs started with the Blockchain SDK, do you have any plans to financially support indie developers, such as providing ENJ to mint items?
Maxim: Yes, we try our best to support adopters, and many early adopters received ENJ from us to get started with minting. We will always be on the lookout for great games to help fund in some capacity and support.
Do you foresee a more streamlined/automated process for common users to make QR beams?
Maxim: Yes, this service is coming in the very near future, as well as a mint system.
What are the best ways for community to help you guys out with adoption?
Maxim: Sharing and using our tools, download the Enjin Wallet, use our ad-free Ethereum explorer, and start trading and beam scanning digital assets.
Is there a possibility that Enjin Assets will be integrated into an exchange (e.g., Binance)?
Maxim: Kriptomat and GDAC exchanges are already using Enjin blockchain assets to reward and encourage user participation. There are plenty of options available for exchanges to utilize our tech.
Are you guys robots?
Witek: Conscious biological machines.
Efinity is the ultimate goal?
Maxim: Efinity is a huge goal indeed. It will solve so many usability issues that most blockchain projects face. I cannot wait for version 1 of Efinity to release so we can make adoption 100x easier.
Pineapple on pizza, yes or no?
Witek: Always.
What makes Enjin Wallet different than other wallets?
Maxim: Security, speed, the user experience, and just an extreme level of polish and attention to detail.
What benefits will Enjin bring to the world?
Maxim: Read our manifesto.
Our mission is to bring fairness and purpose to gaming.
Will there be ENJ/USDT on Binance?
Maxim: I hope so!
If ERC-1155 becomes the standard, what ways will the Enjin company benefit that the average user can’t foresee/see?
Witek: It helps in the long-term that we are becoming thought leaders in this area, and many companies are working with us because we’re experts in ERC-1155, being the authors.
I’d like to continue contributing to the Ethereum community in this way, as it will also help adoption on the wide scale. We see people implementing ERC-1155 now who we’ve never even spoken to, and these assets will be compatible with our Enjin products, so it’s a win-win for everyone.
Do you think that, can Enjin Platform provide all popular PC & VR games in one center on blockchain backed by crypto in near future?
Maxim: We’re the only platform right now offering this ability, and our tools will only get better and evolve fast to become the gold standard in asset creation, management and integration.
The max. supply is 1.000.000.000 ENJ. What are you going to do, if at some point the whole supply is locked up in items?
Maxim: Have a big ENJ party. But to answer this, games are dynamic, items will mint and melt, and this level of chaos will keep Enjin alive.
Do you see Enjin making online marketplaces to sell games movies and songs people own possible, by being able to make them all blockchain assets with Enjin?
Witek: Our platform allows anyone to make their own marketplaces quite easily. In terms of our company, we’re working on a cool new type of marketplace on EnjinX that will be very natural to use inside of the explorer and Enjin Wallet.
Soon, it will be extremely easy to mint an asset and sell it, enabling people without any development experience to realize their ideas on the blockchain.
We’d like to extend a big thank you to Binance for hosting us, Darc for moderating—and, of course, the Enjin community for supporting us by voting, participating in the AMA, and for just generally being awesome.
Now, back to our regularly scheduled #BUIDLing.
