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.
The biggest technological company on Wednesday introduced Azure Heroes. 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.
As per the statement:
“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 badges. Users also have to download the Enjin wallet in order to store received badges that can be later transferred to any Ethereum address or destroyed.
Every badge is tokenized and is “wrapped” around a certain amount of ENJ token using the ERC1155 protocol. Each token’s supply is limited and backed by the Enjin Coin. For example, their Inclusive Leader token has only 100 supply while the Maker Token has 10k supply.
More than 30 games have been built on Enjin and many other platforms decided to utilize Enjin for other businesses as well. The number of possibilities for its ERC-1155 tokens usage is humongous. NFT enables its users to experiment with things such as identification or authorization. Even the simplest tasks such as having digital name cards can open the entrance into the crypto space.
Users can get the digital collectibles by scanning a QR code with the Enjin wallet. The app is available in the Apple or the Google store.
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. Azure CTO Mark Russinovich then said that this was a ‘natural choice’ given that it is powered by the Ethereum protocol. The partnership helped both companies advance their Blockchain ambitions by making Quorum more accessible to customers.
At the time of writing ENJ rocketed 32.72% to $0.078.
Experienced creative professional focusing on financial and political analysis, editing daily newspapers and news sites, economical and political journalism, consulting, PR and Marketing. Teuta’s passion is to create new opportunities and bring people together.
Teuta Franjkovic , 2019-12-05 10:04:54 ,