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ENJ up 37.5% after Microsoft and Enjin launch rewards program on Ethereum

ENJ up 37.5% after Microsoft and Enjin launch rewards program on Ethereum

Microsoft and blockchain gaming firm Enjin have unveiled a novel tokenized rewards program based on Ethereum, Azure Heroes, and are piloting the scheme in “selected Western European countries.”

The bulls sent Enjin Coin (ENJ) rocketing shortly after Microsoftโ€™s announcement, with market capitalization spiking 42 percent up to $67 million. The rally made ENJ the market’s best performing coin of the day, up 37.5 percent at the time of press.

Badgering about

Microsoft has pitched the โ€œblockchain-based recognition programโ€ as a way to reward contributors to the open-source arm of Azure, the companyโ€™s cloud computing platform. Contributors that complete โ€œverifiable acts of impactโ€ such as coaching, writing code, or blogging about Azure will be awarded digital collectibles โ€” tokenized badgers.

The Seattle-based tech giant has minted roughly 12,000 non-fungible โ€œdigital badgerโ€ tokens using the ERC-1155 Ethereum token standard, originally proposed by Enjin Co-Founder Witek Radomski.

Community members are eligible to pick up five different types of so-called โ€œcute badgers,โ€ ranging from the โ€œContent Heroโ€ (limited supply of 250) to the more ubiquitous โ€œMakerโ€ badger (supply of 10,000).

Source: Enjin Marketplace

A powerful ally

Microsoft now associates itself with an impressive number of blockchain projects including NEO, Hyperledger, and Truffle, but given the latest announcement, the firm seems to be solidifying status as Ethereum’s most heavy-hitting corporate sponsor. The Seattle-based tech giant has announced a dizzying number of projects on the smart contract platform, including using it to democratize AI, to developing an Ethereum smart contract verification scheme.

The new tie-up with Microsoft surely comes as a fortuitous marketing opportunity for Enjin too, who just in September launched their online exchange for ENJ-backed digital collectibles, Enjin Marketplace.

Azure Heroes will become liquid on the marketplace after distribution and, judging by some of the platform’s other collectibles on sale, could eventually fetch handsome profits for holders of these digital badgers. Enjin Platform’s “Babel Fish #9” collectible is the priciest offering up for grabs on Enjin Marketplace, listed for sale at 11,551,155 ENJ ($933,500).

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