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Enjin Coin to Launch Terra Essence NFT Claim for Multiverse Season Pass

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ENJUSD$0.0312 −1.67%

Enjin Coin (ENJ) will open claims for the Terra Essence non-fungible token on October 13. Users can mint the asset by connecting a digital wallet to the Multiverse dashboard. The collectible acts as a season pass, granting access to the ecosystem's upcoming Earth Season.

Enjin functions as a gaming platform on the Ethereum network, allowing creators to tokenize virtual items. Every non-fungible token minted through the ecosystem embeds ENJ within it, locking token value and taking those units out of public circulation. Holders also retain the option to dissolve, or melt, their digital assets to recover the underlying ENJ tokens.

Following the announcement, ENJ dropped 1.32% to $0.03135. Market participants will be watching the opening of claims on October 13 to measure user engagement and wallet activity on the Multiverse platform.

Key points

  • Enjin Coin opens Terra Essence NFT claims on October 13 via the Multiverse dashboard.
  • The Terra Essence NFT functions as a pass to unlock Earth Season content.
  • Enjin platform NFTs embed ENJ tokens internally, withdrawing supply from open circulation.
  • Users can dissolve Enjin NFTs through a melting mechanism to retrieve embedded ENJ.
  • ENJ was trading at $0.03135, down 1.32% on the day.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

When can users claim the Terra Essence NFT?

Users can claim the Terra Essence NFT starting October 13th by connecting an eligible crypto wallet to the Multiverse dashboard.

What does the Terra Essence NFT do?

The Terra Essence NFT serves as a Multiverse season pass and unlocks Earth Season within the Enjin gaming ecosystem.

How does Enjin Coin backing work for NFTs?

Every NFT created on the Enjin platform embeds ENJ token value inside it, removing tokens from general circulation. Users can also melt NFTs to reclaim the locked ENJ.