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Enjin and Singapore’s Digital Entertainment Asset (DEA) Part...
NEWS

Enjin and Singapore’s Digital Entertainment Asset (DEA) Partner to Reward NFT Creators

Enjin–a blockchain-chain based video game community and development platform, and Digital Entertainment Asset (DEA)–a Singapore-based entertainment platform allowing users to build websites, forums, or dApps for gamers, are joining hands to establish the first of the kind NFT Awards to showcase curated “nifties” use case to the mainstream audience.

A Panel Member of the 2020 NFT Awards Will Include a Former Sony Executive

The adjudicating panel of the 2020 NFT Awards scheduled for live streaming on Dec 9 will include the former Sony CEO and Chairman Nobuyuki Idei, and a team member leading Microsoft’s Azure Heroes NFT rewards program—done in collaboration with Enjin. 

Notably, the inclusion of Sony’s former chairman, given his vast experience as the head of the multi-billion organization and a leader in the supply of gaming material, showcase how non-fungible tokens are gaining traction and currently under-exploited. 

In 2019, the Japanese tech giant approved the first Ethereum-based PS4 game called Plague Hunters. 

A development by Arcade Distillery, the game is a sequel of the popular Plague Road. Through the open Ethereum blockchain, players could exchange items from a marketplace without giving up ownership of their assets.

What are Non-Fungible Tokens (NFTs)?

Non-Fungible Tokens (NFTs) or simply “nifties” are as the name suggests. These tokens are not-interchangeable and each has a unique trait that differentiates it from the other. NFT tokens can therefore not be copied or replaced with something else. 

Within the Ethereum ecosystem, they comply with the ERC-721, or the ERC-1155—as in the case with Enjin– standards where they find utility in gaming, art, collectible transactions, and in many other areas demand uniqueness and originality. 

The ERC-1155 standard which was developed by Enjin’s CTO allowed the minting on fungible and non-fungible tokens in the same transaction.

Enjin Partners

With creativity allowance in both Enjin and DEA, their mutual collaboration will help augment the quality of NFT assets and the interaction of separate disparate items. 

In July, Enjin partnered with Aave to bring DeFi to gaming in a deal that will see players increase their in-game ENJ earnings via the Aave protocol.

Cloud computing has given creators and players god-like powers. It has opened possibilities that are perpetually changing the games industry on a day-to-day basis. Gaming environments are becoming indistinguishable from the real world, and events are scaling out to colossal proportions.

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Perhaps emboldened by the industry’s thirst for innovation, Enjin’s developer-friendly tools enable studios to build real-world economies to match the visual realism that can already be experienced within their games.

By partnering with SwissBorg, studios can easily access the Enjin Coin needed to make powerful blockchain assets using the Enjin Platform; gamers can use that Enjin Coin to buy and sell those assets via the Enjin Marketplace; and both gamers and developers can turn their ENJ earnings back into fiat using the SwissBorg Wealth App.

Enjin also partnered with SwissBorg as per a  report. The collaboration will see ENJ added to the SwissBorg Wealth App.

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