Enjin Opens Mintshop Minting Service to Create Customized ERC-1155 Blockchain Items
The company that created the Enjin Coin and crypto wallet recently released a new service for creating of blockchain items. This service will make it possible to create a custom decentralized asset using a simple platform dubbed Mintshop. The service launched on October 31.
How It Will Work
The Mintshop service will allow users to come up with a unique ERC-1155 token that can represent anything. Businesses will also be able to use the tool to come up with various promotional items like vouchers and souvenirs that reward various actions.
We also have a special gift for you!
For a limited time, we’re offering free minting for all orders placed in the Mintshop, with the cost of ENJ-backing based on market price.
— Enjin (@enjin) November 1, 2018
To create a crypto asset, one usually has to deploy smart contracts on the blockchain. However, Mintshop will let users create fungible and non-fungible items using various smart contracts by submitting an image, description, and name. The customers can mint a maximum of 10,000 ERC1155 tokens for a small amount of $0.03 in just a few minutes.
The Enjin Coin will be used to back the ERC1155 tokens to ensure they have a base value. All of them will be compatible with the Enjin wallet. Thus, users can retrieve ENJ coins from each ERC1155 items by simply melting them inside the wallet.
How They Can Be Used
ENJ will be a mark of authenticity for these blockchain items. This will help to mitigate the risk of hyperinflation in the crypto market. Some use cases are using the ERC1155 tokens as items in video games. Besides that, they can be used as bonuses for retail customers via sites or physically.
They can also be used as rewards to customers or employees. According to the Enjin CEO, this will be an easy tool for anyone to create and use crypto assets. He added that he was eagerly waiting to see how people would use this technology.
Before launching this tool, the company upgraded their wallet to ensure that it was compatible with ERC1155 tokens. They could be sent, accepted, and melted using the Enjin wallet. In essence, users can melt their tokens to get ENJ coins. This will be the first time this is possible using phone apps on iOS and Android.
Each ERC1155 token will be compatible with the wallet. Once the Efinity network is released, those owning ERC1155 tokens can transact them instantly with almost zero cost.
Revolutionizing The Crypto World
Game makers will be able to use the blockchain software development toolkit from Enjin to implement the Enjin smart contracts based on the ERC1155 standard. They can create bound tokens, consumable tokens, whitelisted markets, and P2P transaction fees.
The tool will be placed on the Unity Asset Store front page upon release. This will make it possible for over 4.5 million developers to use ERC1155 tokens in any game created using Unity. This happens to be the largest development platforms for gamers. With the infrastructure progressing steadily, the Efinity network will make it possible to access ERC1155 tokens to millions of people globally. The use of smart contract will soon include secure escrow trading, on-chain loaning with tokens, token bundling, and many other features.