Created by one of the largest gaming community platforms, it has a registered user base of over 18.7 million gamers. The goal for Enjin? To reduce counterfeits and scams in the world of virtual-goods transactions via cryptocurrency.
However, what does this have to do with Meta: the rebranded Facebook platform? Why did the crypto soar over 300% upon Facebook’s announcement of their investment in the metaverse?
Let’s figure it out.
Virtual reality: Our New Reality?
With the pandemic, the last couple of years of our lives have more or less been reduced to a screen’s worth of virtual interaction for all aspects of our life, from food to friends; but how far is this virtual reality journey going to take us?
Apparently as far as the creation of a metaverse. Yes, a literal virtual universe.
He claimed that unlike a 2D image of your average video call, in meta, you will be able to virtually teleport to a whole new location and also be able to experience an interactive augmented reality.
But, What Has Enjin Coin Got To Do With Meta?
Enjin is based on a gaming platform to help purchase virtual goods; Meta is a virtual universe; these two platforms have virtual reality in common and hence, Facebook’s rebranding almost directly puts Enjin coin on the growth charts in today’s crypto currency race.
What Are The Price Predictions For Enjin?
Despite it being less than a month since the announcement of Facebook’s Meta, the price of Enjin coin has almost more than doubled in value from $1.81 to $2.97 in just two weeks.
Currently the coin is valued at $2.98 and the 1 year forecast of the coin promises the doubling of the value yet again, according to analysts at Wallet investor. They also claim that by 2026, the coin will easily reach the value of $9.53.
The analysts at trading beasts claim that the coin may reach the value of $1.40 by the end of November and $1.39 by December 2021. Having said this, they also estimated the highest possible value to be $1.760 while the lowest possible price being $1.19.
News crypto claimed that according to their analysis, Enjin was a great Crypto for a long term investment. Short term investments may not give such great results but the value of the coin may reach about $3.80 by the end of this year.
The Enjin coin might just be a very unorthodox investment that could provide great returns in the long run.