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Pros and cons of EnjinX NFT marketplace:
Pros
Built for gamers. Enjin's ecosystem focuses on nonfungible tokens (NFTs) and fungible tokens (FTs) alike, with the majority of the projects listed from blockchain-based games.
All assets backed. All tokens minted on Enjin are backed by Enjin coin, so users can liquidate their assets for cryptocurrency, and this also gives the NFTs value.
Easy to use. The Enjin ecosystem is clear and easy to use, and beginners should be able to navigate it easily.
Cons
Requires Enjin app. While the app is impressive, users must use the Enjin wallet app to buy and sell assets on the marketplace; an extra step.
Popular NFT projects missing. The Enjin marketplace is focused on gaming assets, so popular NFT collections like CryptoPunks and Bored Ape Yacht Club aren't featured.
Multiple fees. Many NFT marketplaces have a marketplace fee and gas fee, but Enjin has many fees to watch out for.
Dive into the expansive Enjin ecosystem to compare thousands of NFTs. Find NFTs from Lost Relics, Nestables, Age of Rust and more. EnjinX Marketplace primarily focuses on gaming NFTs and FTs, and it's a go-to place if you enjoy Enjin projects.
Our take on the Enjin marketplace for NFTs
EnjinX Marketplace is Enjin's NFT marketplace, and is part of the Enjin ecosystem. The marketplace has a heavy focus on blockchain gaming NFTs and FTs.
Enjin's vision of an open ecosystem can be seen with the Enjin Multiverse, which bridges numerous gaming worlds where players can come together to buy, sell or trade their unique objects.
Image source: EnjinX Marketplace
The marketplace platform makes it easy to filter projects and assets. The listings are chock-full of useful information — displaying views, holders, properties, the creator's name, date minted, total supply and much more. Enjin's marketplace listings are clearer and more transparent than we've seen with competitor marketplaces.
Enjin's blog features useful advice for creators and collectors, and tips for indie blockchain game developers. Collectors can read step-by-step guides on how to stake tokens, the latest news around Enjin projects and applications, and tips on optimizing batch NFT minting.
Image source: Enjin.io
Overall, it's user-friendly and streamlined with many ways to find what you're seeking. As a bonus, the marketplace is void of ads, making the platform clutter-free.
Enjin was founded in 2009 by Maxm Blagove and Witek Radomski, the Enjin cryptocurrency, Enjin Coin (ENJ), was launched in 2017.
About EnjinX NFT marketplace
On the Enjin marketplace, you can browse collections and NFTs for Enjin blockchain games. You don't have to be logged in to search, view NFTs or compare prices from sellers.
Narrow down your search and sort by transaction, address, block, coin, assets or projects. There's also a drop menu displaying Marketplace, Activity and Rankings.
To make purchases, you need the Enjin wallet. It's a free mobile app available on Apple and Android devices. It's a noncustodial wallet that supports Bitcoin, Ethereum, most ERC-20 and ERC-721 tokens. It also supports ERC-1155 tokens, which is a unique token standard developed by Enjin for developers to create both in-game fungible and nonfungible tokens.
The app allows you to claim NFTs by scanning a QR code, trade NFTs and link your wallet to numerous blockchain games or decentralized applications (dApps). It offers a seamless way to interact with Enjin´s NFT marketplace and the wider gaming ecosystem.
Use the app to create multiple wallets — allowing you to divide your assets up by collection, game or trading. You can import other wallets and track hardware wallets using the app.
Image source: Enjin.io
EnjinX Marketplace blockchain and currency
The Enjin ecosystem is powered on the Ethereum blockchain, and ENJ is an ERC-20 token. Currencies and tokens can be purchased through popular exchanges. Gas fees are paid in ether (ETH).
In Enjin's unique marketplace, ENJ is used to mint NFTs on the platform, through use of the ERC-1155 standard which applies to fungible and nonfungible tokens.
Each digital item created with this system contains a set amount of Enjin coin within it, and interestingly, that process can be reversed by melting the NFT back into Enjin coin. This gives instant liquidity to NFTs and means that every in-game item holds some real-life value.
Another feature is that some games allow players to earn Enjin coins as a tokenized reward, which can be used to buy other objects from in-game stores.
In 2021, Enjin announced that it would release a parachain on the Polkadot network, called Efinity. This new ecosystem is set to host more blockchain-based games and applications, but ultimately, a heavy focus on the metaverse.
Gemini is a cryptocurrency exchange with a simple UI that's user-friendly and accommodating to newcomers and experienced traders.
Gemini's strongest point is its Gemini Earn program, which allows users to earn up to 7.4% interest on specified cryptocurrency balances.
Gemini has a wide selection of cryptos available for exchange on the platform. However, some notable entries from the top 20 by market cap are missing, such as Cardano and Solana.
Deposit Methods
Bank transfer (ACH) Cryptocurrency Debit card PayPal Apple Pay Google Pay SWIFT
Deposit Fees
Cryptocurrency: None Bank transfer (ACH): None, bank fees may apply Wire Transfer: Determined by your bank Debit Card: 3.49% + Trading Fees Paypal: 2.50% of total deposit amount + Trading Fees
Withdrawal Fees
Cryptocurrency: None (for 10 withdrawals and below per month) Others: None (for 10 withdrawals and below per month)
Trading Fees
Taker fee - 0.03-0.4% Maker fee - 0-0.2%
How to buy NFTs on EnjinX Marketplace
To get to the marketplace, go to enjin.io, select Products on the main navigation bar then select Marketplace. Or go to enjinx.io/eth/marketplace.
To buy NFTs on the marketplace, you need the Enjin wallet app. Once you have the wallet and you're at the marketplace, follow these steps:
Select the NFT you want and tap Buy. A window opens displaying the listing price, seller and quantity. Buying NFTs requires ENJ, though the ENJ price is also converted to US dollars.
A QR code appears on the window, scan the code with your Enjin wallet app where you'll verify and complete the transaction.
For some NFTs, there are multiple sellers. Here's how that works:
If you've found the NFT you want, select Buy and a window appears with the multiple listings and the buy prices.
Once you've selected a seller, continue the transaction by scanning the QR code and completing the purchase in the Enjin app.
Creators and collections available on Enjin's marketplace
As we've mentioned, Enjin is a gaming ecosystem. Most NFTs and FTs on the NFT marketplaces are for blockchain-based games. Some projects on the marketplace include:
Age of Rust.
AlterVerse.
Banksy.
Hunters of Rio.
Lost Relics.
War of Ants.
To find a specific project, use the search bar on the marketplace or select Projects on the main navigation bar.
Image source: EnjinX Marketplace
How to sell NFTs on EnjinX Marketplace
To sell an NFT you already own, follow these steps using the Enjin app:
Go to your collections and select the NFT you want to sell by selecting Sell Item.
Fill out the listing details and set the sale price in ENJ, and choose a sending fee.
Confirm the listing.
If you want to cancel or edit the listing, you may do so at any time.
To create and mint an NFT to list on the marketplace, here's what to do:
Make an account on https://cloud.enjin.io/login.
Create a project, and pick a name, image and description for it.
Link your wallet to the blockchain by scanning a QR code or copying a linking code.
Mint tokens.
The Enjin team makes minting NFTs easy and simple. Be aware that minting NFTs means paying gas fees, and you'll need ETH and ENJ in your account to power the transaction. ETH is used to pay for interacting with the blockchain, and ENJ is used as minting material — all NFTs on Enjin are backed by ENJ.
EnjinX Marketplace fees
There are multiple fees that come within the Enjin Marketplace. These are charged in ENJ and are set up during the asset minting process. Creators can choose to charge a transaction fee when selling an NFT.
Transfer fee
A flat fee per transaction, paid by the sender to the creator.
Per-item fee
A cost per object being transferred, payable by the sender to the creator.
Ratio cut
A percentage of the items comes from the total being transferred and is delivered back to the creator.
Ratio extra
A percentage of the items comes from the sender and is delivered back to the creator.
Marketplace fee
Enjin charges a standard 2.5% to every NFT sale.
Transaction and gas fees are paid in ETH and ENJ.
EnjinX Marketplace unique features
One of the most noteworthy features of EnjinX is that owners of NFTs can "melt" their NFTs back into ENJ at any time. All NFTs are backed by ENJ, giving them value that you can cash in at any point.
Enjin wants ENJ to be like the gold standard for US dollars, to help build a user's confidence in their assets' value.
To melt an asset on Enjin, go to your owned assets, select the item you want to liquidate and then select Melt Item when viewing the asset. Next, choose your transaction fee, enter your password and then retrieve the ENJ coin that was backing the asset. Remember that melting an asset means it's gone forever.
Is the Enjin NFT marketplace legit?
EnjinX is a legitimate NFT marketplace. However, since the EnjinX Marketplace requires the use of the Enjin wallet, security is likely on many people's minds.
The app has security features, and Enjin doesn't store your wallet's private keys on its servers. Your private keys and recovery phrases are stored on your device, and you're responsible for keeping them safe.
While Enjin has its security measures, it doesn't guarantee the security of your personal data. Any data transmission is at your own risk.
Impressively, we could not find any evidence of an Enjin sitewide hack. The only incidents we could find were individual users becoming victim to phishing NFT scams, which involve a scammer pretending to be Enjin customer support and the victim giving out personal information, like private keys to crypto wallets.
Enjin appears to be a secure marketplace, but you should still keep information safe. For help spotting and avoiding scams, read our NFT scam guide.
Compare NFT marketplaces
Bottom line
Enjin is creating an impressive NFT marketplace that's focused on its specialty, blockchain games.
The ecosystem has something for everyone — education materials, a vast marketplace for gamers and the ability to view or send gaming NFTs with QR codes using the Enjin wallet.
Through its native wallet, with a seamless integration to its platform, the team is building exceptional products. Enjin is in the midst of disrupting the gaming industry by harnessing its strong hold on blockchain games and aligning it with NFTs. In the process it's making its platform and wallet easy for beginner and noncrypto users, in a bid to boost mass adoption.
For cryptocurrency veterans, Enjin has you covered with a large collection of tokens and NFTs available. It's too soon to say, but there are exciting projects in the pipeline for creators, gamers and developers on Enjin.
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Bethany Hickey is a personal finance writer at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine.
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Image source: EnjinX Marketplace
Image source: Enjin.io
Image source: Enjin.io
Image source: EnjinX Marketplace
