Non-fungible Tokens are a result of the new Blockchain era (NFT). The tendency these days is to create and buy digital assets. NFTs are a type of data unit that is kept on the blockchain. It can take the form of music, artwork, or other media. The owner keeps the basic file even though the digital file can be duplicated or saved by multiple people. Digital artwork is one of the types of NFTs, and two other sites, Rarible and Enjin, invariably support them.
Key Takeaways
- Rarible is a decentralized marketplace for buying, selling, and trading non-fungible tokens (NFTs). At the same time, Enjin is a blockchain-based platform that enables the creation and integration of NFTs into games and other virtual experiences.
- Rarible offers a more open and flexible platform for NFT trading, while Enjin focuses more on integrating NFTs into gaming and virtual experiences.
- Rarible provides a more customizable and accessible platform for creators and collectors, while Enjin provides a more secure and scalable platform for game developers and players.
Rarible vs Enjin
The difference between Rarible and Enjin is that Rarible is a web-based NFT trading platform that aids in creating, minting and selling digital photos, music, games, and other items. Enjin, in the country, is a fully integrated blockchain platform. It provides a comprehensive ecosystem of software solutions that make it easier to benefit from and take advantage of rapidly growing technology.
Rarible is an NFT trading platform that assists in the minting, creation, and sale of digital music, photos, games, and other items. However, it is web-based. Rarible was founded and established by Alexander Salnikov. Rarible was founded in the year 2020, much later than Enjin. RARI is the name of the cryptocurrency that Rarible is offering. Rarible has approximately eleven lakh users. Rarible’s electronic wallet is known as Metamask.
Enjin is a blockchain-as-a-service application. It provides a comprehensive ecosystem of software solutions that make it easier to benefit from and take advantage of rapidly changing technology. The founder of Engin, Maxim Blagov, is the man behind it. In 2009, Enjin was founded. The Cryptocurrency Enjin Coin (ENJ) is now available. There are 2.5 lakh gaming communities on Enjin, with 20 million registered users. The Enjin Wallet is the wallet that is in charge of all Enjin transactions.
Comparison Table
| Parameters of Comparison | Rarible | Enjin |
|---|---|---|
| Establisher and Founder | Alexander Salnikov | Maxim Blagov |
| Established year | 2020 | 2009 |
| Cryptocurrency name | RARI | Enjin Coin (ENJ) |
| No. of users | 11 lakh users | 2.5 lakh communities of gamers, 20 million users |
| Wallet name | Metamask | Enjin Wallet |
What is Rarible?
Rarible is a web-based platform. However, it is an NFT trading platform that aids in the minting, creation, and sale of digital music, photos, games, and other digital media. Rarible was founded by Alexander Salnikov, who was also its founder. Rarible was founded much later than Enjin in the year 2020. The cryptocurrency offered by Rarible is known as RARI. There are approximately eleven lakh users on Rarible.
Rarible’s electronic wallet is known by the moniker Metamask. In the year 2020, Rarible was founded. Rarible is an open-source NFT trading platform that lets users buy, create and trade virtual and digital assets, like music, photos, and games. Rarible focuses mostly on digital assets in the form of artwork.
Because the platform is open source and the minting procedure is simple, numerous people may easily sell the digital things they create. This innovation has expanded the user’s entry options while also making them more smooth. Rarible also introduced RARI, a governance token. This resulted in a price increase of at least tenfold.
What is Enjin?
Enjin is a blockchain platform with built-in functionality. It provides a whole ecosystem of software solutions that make it easier to benefit from and take advantage of rapidly growing technology. Maxim Blagov is the driving force behind Engin’s creation. Enjin was founded in the year 2009. The Cryptocurrency offered is Enjin Coin (ENJ).
Enjin features 2.5 lakh gaming communities with a total of 20 million registered users. The Enjin Wallet is the wallet in charge of all Enjin transactions. Enjin is a famous gaming platform. However, it is based on blockchain functionality. This platform puts its focus on owning non-fungible tokens. The players own those digital NFTs or non-fungible tokens to use these tokens in various other games.
Moreover, these are used in a variety of video games and other platforms. It can be operated from personal computers to mobile. Here, trading can be done between the players outside and inside the game and others. Enjin NFTs also allow gamers to own the gaming items in the game. Enjin Coin is the backbone that is built on the pillars of Enjin’s system. However, it is a powerful cryptocurrency as well.
Main Differences Between Rarible and Enjin
- Rarible is a type of web-based NFT trading platform that helps minting, creating and selling digital music, pictures, games, etc. On the other hand, Enjin is an integrated blockchain software. It offers a complete ecosystem of software products that helps in taking benefit and advantage of the dynamically evolving technology smoothly.
- Alexander Salnikov is both founder and establisher of Rarible. On the other hand, Maxim Blagov is the person behind the establishment of Enjin.
- Rarible was established in the year 2020, much later than the establishment of Enjin. On the other hand, Enjin was established in 2009.
- RARI is the name of the cryptocurrency offered by Rarible. On the other hand, Enjin Coin or (ENJ) is the Cryptocurrency offered
- Rarible has a total of around eleven lakh users. On the other hand, Enjin has a total of 2.5 lakh gaming communities, having 20 million users registered.
- Metamask is the name of the electronic wallet of Rarible. On the other hand, Enjin Wallet is the wallet responsible for all transactions related to Enjin.
- https://www.mdpi.com/1014306
- https://search.proquest.com/openview/d4ed6961bc95bc89480b15a56d401ad8/1?pq-origsite=gscholar&cbl=2032396
Last Updated : 13 July, 2023
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Chara Yadav holds MBA in Finance. Her goal is to simplify finance-related topics. She has worked in finance for about 25 years. She has held multiple finance and banking classes for business schools and communities. Read more at her bio page.
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