Author: Gan Jia Ci
Yesterday, OKEx kicked off the Global Meetup Tour 2018 at the first stop in the world – Singapore. The event featured a diverse band of speakers including Lilia Pritchard and Dorjee Sun, the Chief Operating Officers of Enjin Coin and Santiment Network Token respectively.
Panelists also included founders of blockchain startups such as Tokens X Startups and Blockchain&Dapps Meetups.
Block Asia managed to speak with Pritchard from Enjin Coin on their current progress.
Currently the largest gaming community creation online platform, Enjin has accumulated over 250,000 gaming communities across worldwide games after launching in 2009.
Enjin first launched the Enjin Coin (ENJ) to provide game developers and gaming communities with the required crypto-backed value and tools for creating and managing virtual goods. The Enjin coin is a ERC20 token running on the Ethereum blockchain network.
Progressing Into Blockchain Industry
While Pritchard has had over 10 years of experience in the marketing field, majority of her projects have been gaming-related. Being a gaming enthusiast herself, Pritchard is a strong advocate for the community.
Speaking of the business, Pritchard mentioned, “Our original business was establishing a social media platform that allows gamers to create their own websites and shops to process virtual goods and items.”
She added, “Since we were processing virtual goods and there were many payments and transactions involved, there was a natural progression into blockchain for us.”
Adopting blockchain technology into the gaming community may have seemed to be a risky move for many, but the truth is otherwise. Pritchard explained,
“There were challenges that we faced initially, that’s for sure. We are talking about a new community and definitely a new market to target. But, the truth is that gamers are typically tech-savvy to begin with. Many of them were very much involved in the blockchain space already.”
“Gamers are one of the few groups to adopt cryptocurrencies and virtual assets. In that aspect, the progression of our business into blockchain was generally seamless.”
The Bearish Market
While coin giants like Bitcoin and Ethereum received popularity in the early stages, many have still fallen into the plight of the bearish market. Since the beginning of 2018, the cryptocurrency market has crashed continuously.
Pritchard spoke of the market, “It’s hard to say how the market will behave. Honestly, we are not very focused on the ups and downs. Our objective is to focus on introducing utility for the community. ”
“When you have the utility and a natural demand, it creates a new dynamic. You won’t need to concern yourself about the speculations because people will start using the products and adopt them into their daily lives. If something is good, people will like it.”
According to her, while currencies are volatile, it does one no good to worry about the market. “Our team just wants to introduce utility to the market. When your items improve and people find benefits in them, they will naturally be drawn to them. What’s important is to always focus on improving usability and accessibility for the community,” she explained.
In January, Enjin announced a new lightning network for gaming – Efinity. Efinity is an upcoming game-channel project that allows for increased scalability in gaming transactions.
According to Enjin, “By opening a game channel with an Efinity network, a game will be able to perform nearly infinite volumes of transactions between millions of players and the game server — at high speeds and nearly no costs.”
When asked about what to expect from the new network system, Pritchard excitedly explained, “You can expect game developers to start using our system to create virtual and in-game items more readily and put them on the blockchain.”
“We are currently building tools for game developers so that they can easily create these items without having to know how to specifically code or use blockchain, making them simple and easy to use. Efinity provides accessibility for game engines such as Unity, Unreal and more.”