5 December 2019 | AtoZMarkets – It seems that the biggest tech behemoth Microsoft in the world decided to enter the crypto space with the leading blockchain gaming project. It plans to use the ENJ token in order to back-up blockchain assets.
Microsoft and Enjin launch rewards program on Ethereum
The biggest technological company on December 4 introduced Azure Heroes.
Badger image courtesy Microsoft/Enjin
It works as a rewards system using digital collectibles. In order for this to happen, Microsoft decided to partner with the blockchain gaming project Enjin to create a blockchain-based recognition program.
According to Microsoft:
“Microsoft and Enjin have collaborated in a local pilot to create a blockchain based recognition programme. The Azure Heroes badgers were created in a number of original and unique designs which have been tokenized into a digital asset on the Ethereum public blockchain.”
Individuals who make a valid and valuable contribution to the community can be therefore rewarded. All they have to do is fulfill some tasks such as coaching, creating demos and even blogging about Azure. After they do that, they will receive special digital badgers from several categories. These are non-fungible tokens (NFT) that remain unique to their owners (similarly to projects in the likes of CryptoKitties and Decentraland).
Badger image courtesy Microsoft/Enjin
Users also have to download the Enjin wallet in order to store received badges. Also, users can transfer them to any Ethereum address or have them destroyed.
Every badge is tokenized and is “wrapped” around a certain amount of ENJ token using the ERC1155 protocol.
There is a limited supply for each token supply and backed by the Enjin Coin. For example, their Inclusive Leader token has only 100 supply while the Maker Token has 10k supply.
Is this the go sign for other big players?
As Microsoft can brag with its huge users’ network, there is a big chance the digital collectibles’ exposure will be huge as well. With Microsoft on board, the company says they see no reason why other big players wouldn’t try it out as well. From Microsoft, they said they intend to continue the reward tokens issuing until the end.
This magnitude of the community’s inclusivity by utilizing digital collectibles creates a different playing field due to its insufficiency. It will probably make the community more competitive in attempts to achieve the rarest of collectibles. This, in turn, helps in the spreading and appreciation of their business while saving marketing money.
However, this is not Azure’s first attempt to enter the crypto sector. This major cloud computing platform already in March presented a blockchain development kit in partnership with America’s largest bank J.P. Morgan. Moreover, the partnership helped both companies advance their Blockchain ambitions by making Quorum more accessible to customers.
Enjin Coin is currently ranked #69 by market cap, is up 36.59% over the past 24 hours. ENJ has a market cap of $62.96M with a 24-hour volume of $28.09M.
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