Wallet Provider Blockchain Ventures Takes Stake in Gaming Platform Enjin

The venture arm of cryptocurrency wallet, data and exchange provider Blockchain has taken a stake in blockchain game technology firm Enjin. Blockchain Ventures said on Tuesday that the investment makes it the first equity investor in the gaming tech firm, which enables tokenized in-game items to be ported across ethereum-based titles built using its platform.

The gaming firm’s token, enjincoin, notably soared 70 percent in March when news broke that the Enjin wallet had been included in the offerings on Samsung’s Galaxy S10 blockchain phone. Among the reasons it’s now an Enjin backer, Blockchain Ventures said: “The Enjin token economic model, where Enjin Coin (ENJ) is locked within virtual in-game items and non-fungible tokens (NFTs) is something we hadn’t seen before.

Timeline of Enjin-coin