Microsoft Validates Enjin Technology Which Is More Than Ever The Leading Cryptocurrency In Gaming
Microsoft has chosen Enjin to launch its Azure Heroes system.
Expected for several weeks now, the announcement of the partnership between Microsoft and Enjin technology has finally been made public. Microsoft’s decision to rely on Enjin to launch its Azure Heroes system is of paramount importance for the future of Enjin. Indeed, it validates the Enjin technology and imposes Enjin Coin more than ever as the leading cryptocurrency in the gaming world.
Microsoft Relies On Enjin
Microsoft is undoubtedly one of the largest technology companies in the world. For several months now, Microsoft has been investing in Blockchain technology. This investment led Microsoft to create Azure Heroes.
Azure Heroes is a digital rewards system for active participants in Microsoft’s Azure technical community.
The digital awards at the heart of Azure Heroes will therefore be based on Enjin technology. The official announcement on the Azure Heroes website is as follows:
“Microsoft and Enjin have collaborated in a local pilot to create a blockchain based recognition programme. The Azure Heroes badgers were created in a number of original and unique designs which have been tokenised into a digital asset on the Ethereum public blockchain.”
The Azure Heroes system implemented by Microsoft aims to reward with Enjin Coin individuals participating in its technical community for real impact acts such as coaching, creating demonstrations, creating example codes, publishing blog articles about Azure or participating in challenges on the Azure platform.
The rewarded community participants will be recognized through a system of badges in various categories.
The Gaming Industry Is Booming
This first technological partnership between Microsoft and Enjin makes perfect sense in a booming gaming industry that has a bright future ahead of it.
The Blockchain is a revolution that will impact many sectors in the coming years. Nevertheless, some sectors will be impacted before others.
Among the sectors that will be strongly impacted by massive adoption of Blockchain technology is the gaming industry.
Gamers are used to spending a lot of time online when they play. In most of the games they play, they are used to buying virtual items of any kind. The idea of tokenizing the economy seems natural to them. In addition, they are curious by nature, which will encourage them to test cryptocurrency projects that are part of their game world.
Cryptocurrencies targeting the gaming industry therefore have great potential since they are in a fast-growing market that already represents more than $150 billion in revenues in 2019 worldwide and could exceed $180 billion by 2021, according to some studies.
By way of comparison, the film industry will reach just $50 billion in revenues in 2021 while the music industry is expected to reach $22 billion in revenues. Reading these forecasts, it is clear why the gaming industry represents a sector full of promise for the future of cryptocurrencies.
Enjin Is The Leading Cryptocurrency In Gaming
Enjin is the largest online gaming community. The choice of Microsoft is therefore not surprising but it is important in order to validate the seriousness of Enjin’s technology. Enjin offers a flexible and free platform to create, integrate and scale gaming assets.
The team behind the Enjin Coin project has created smart contracts that allow game developers to make their items exchangeable.
Many games are already based on Enjin Coin technology: Forest Knight, Bitcoin Hodler, War of Crypto, Age of Rust, 9 Lives Arena and ReBounce.
Even better, the Enjin Coin cryptocurrency had already partnered with the world’s leading smartphone manufacturer Samsung. This partnership aimed to distribute the Enjin Coin wallet directly to the South Korean giant’s Galaxy S10/S10+ smartphones.
At the beginning of the summer, Samsung had announced that it had already sold more than 16 million units of these smartphones. These figures should continue to increase to reach at least 20 million units sold, which will allow the Enjin Coin wallet to be made available on a very large scale.
The Year 2020 Promises For Enjin
The new partnership with Microsoft for the launch of the Azure Heroes system enables Enjoin Coin to strengthen its position as the leading cryptocurrency in the gaming industry.
Following this announcement, the cryptocurrency Enjin Coin saw its price rise significantly with a market capitalization that took $20 million in just some hours to exceed $60 million. This solidifies Enjin’s presence in the Top 100 most capitalized cryptocurrencies with a 71st place.
The year 2020 promises a lot for Enjin, with probably new partnerships to come now that Microsoft has validated its technology, and especially an entry in the Top 50 cryptocurrencies in sight.