Gaming blockchain startup Enjin has launched its own marketplace for in-game items. The marketplace is integrated into existing products, like the EnjinX blockchain explorer and the Enjin mobile wallet. Gamers can buy and sell digital items on the Enjin marketplace, as they have full ownership over these game assets.
The Enjin marketplace supports the so-called ERC1155 standard. An advantage of this protocol over the ERC721 standard is that consumers can place items into a basket before paying for them. This saves them transaction costs, often referred to as ‘gas’.
The Enjin Marketplace lets users pay in ENJ, the native token for the platform. Gamers also need a bit of ETH to pay for the transaction.
The platform is completely aimed at gamers. Some items on the marketplace are functional in multiple games. The first ever multiverse item on the Enjin platform is a ‘wooden sword’. This item works in an on Enjin-build version of Minecraft, in the dungeon crawler Forgotten Artifacts and Containment Corps. Nowadays there are dozens of items like this. For example an item called Stormwall has a function in more than 20 games.
When a player bought an item on the marketplace, they have to connect the same wallet address into the game. As soon as this connection has been made, the item is directly available in the in-game inventory.
Until now the most popular marketplace for non-fungible tokens was OpenSea. Gamers can sell digital items from games build on the Ethereum blockchain here. While OpenSea supports ETH as a payment option, the Enjin Marketplace only works with the ENJ token. In the end these two markets work in the same way, as they both take a 2.5 percent commission over trades happening on their platform.
OpenSea requires users to use Metamask to validate a transaction, but the Enjin marketplace works different. For example, while browsing the marketplace on your desktop or laptop, you can scan a QR code to validate a transaction. All that consumers need to install is the Enjin Wallet. This wallet is available for both iOS and Android.
Also published on Medium.