Enjin Coin in Minecraft? Mainnet Rumors Help ENJ to 24% Weekend Pump

In May of this year, the team at Enjin Coin launched a demo version of a plugin which would allow an ENJ-based economy to be integrated into one of the world’s most played games – Minecraft.

Known as EnjinCraft, a demo server is already live and being tested by developers, while no solid date has been given for the mainnet launch. But over the weekend some rumours emerged which suggested a mainnet launch was imminent.

Rumous are as common as muck in the crypto-sphere, but then ENJ did pump to the tune of 24% this weekend. With that in mind, let’s take a look at what an EnjinCraft mainnet would bring to Minecraft.

EnjinCraft – A Crypto Economy on Minecraft

Based on the screenshots and video footage shown so far, EnjinCraft essentially assumes the role of an internal economic system within Minecraft. All of this while hooked up to the Ethereum blockchain. The screenshot below shows options for managing both ETH and ENJ token balances in-game. Items can also be traded with other players in the game world.

The Enjin team recently described the prospect of a digital in-game economy which had the potential to span multiple game-worlds:

“With our Minecraft Plugin, server owners will be able to integrate real-world economies of value, provide players with tangible ownership over in-game assets, and create assets that spill over into their communities and the Multiverse.”

The Multiverse refers to the entire stable of games which are under development using Enjin’s blockchain tools. As for Minecraft, there’s a server running with EnjinCraft fully activated right now. Check out the video below to see a transaction taking place in real time.

Once the mainnet version arrives, server owners will presumably be fully equipped to simply download and install the required tools. That applies to the Java version, however the Microsoft version will require the explicit cooperation of the world’s largest tech company.

ENJ Pumps on Positive Rumours

It’s worth bearing in mind that the Enjin team also introduced the previous internal economy to Minecraft in the form of DonationCraft. That’s a plugin which allows PayPal and credit card payments within the Minecraft world, and has been downloaded by over 5 million people thus far.

Chatterings in the Enjin Telegram group this weekend suggested the mainnet launch of EnjinCraft was a matter of weeks away. No reply was received from the Enjin team when I reached out to shed some light on the matter.

From Saturday to Monday the value of ENJ increased 24%, from $0.060557, up to $0.075412, leaving the coin ranked around 90th by market cap.

From a starting price of $0.025 back in February, ENJ has increased three-fold to date. Yet after the token’s miraculous surge to $0.25 in May, it still finds itself nursing losses of 70% in the past 3 months.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock. Charts via CoinMarketCap. 

Author:
Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.