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.

- Advertisement -

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.

Blockchain Ventures didn’t disclose the amount of the investment.

Singapore-based Enjin has built a number of apps to support its ecosystem, including a blockchain wallet, a marketplace for collectibles and a game-development platform allowing third-party devs to include blockchain in their projects.

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. This facilitates both the price discovery and value recovery that have been challenging for NFTs. “

Blockchain had been for years primarily a top bitcoin wallet and blockchain data provider, but has more recently been expanding its offerings. The firm announced a new crypto exchange platform – oddly dubbed The PIT – back in July, and was said to be raising a $50 million cryptocurrency-focused VC fund last month.

- Advertisement -

Enjin gaming image courtesy of the company

Source

Previous Articles:

- Advertisement -

Latest News

Singapore Fines UBS, Citi, Others $21.5M in Money Laundering Scandal

Singapore fined nine financial firms $21.5 million in connection with a major money laundering...

Valhil Capital Predicts XRP Could Hit $4,813 by 2030 Amid Adoption

Valhil Capital projects XRP could reach a fair market value of $4,813 to $9,000...

Hamak Gold to Hold Bitcoin in Treasury, Aims for UK Leadership

Hamak Gold is moving part of its treasury funds into Bitcoin while continuing gold...

Symbolic 200 BRICS Bank Note Unveiled at 2025 Summit Sparks Buzz

A 200-denominated BRICS bank note appeared at the 2025 St. Petersburg forum, generating discussions...

$8.6B Bitcoin Move Sparks New Speculation Over Satoshi’s Identity

Bitcoin saw a record $8.6 billion transferred from dormant wallets in what is called...

Must Read

Top 10 Best Crypto Faucets To Earn Free Crypto

Are you looking to earn free cryptocurrency? Look no further! In this article, we will introduce you to the top 10 best crypto faucets...