An interview with Simon Kertonegoro, VP of Adoption for Enjin. Simon has 15 years of experience in business development, B2B sales, and outbound marketing. As an avid fundamental analyst, he is vocal about the need for more useful blockchain-based products and practical business models.
Could you tell us about your mission?
We’re a gaming company, providing players with a suite of tools for enhancing their experience. In recent years, we’ve grown increasingly interested in blockchain technology as a means to take this experience to the next level – chiefly as a means to put gamers in control of the assets they purchase or earn in-game.
We created EnjinCoin in a bid to offer players and developers the opportunity to monetize games and virtual assets, and to shift away from a centralized structure.
Your team created the ERC-1155 standard for non-fungible tokens. Can you elaborate on its importance?
The trends in digital assets, thus far, has been focused on improving fungibility. This is certainly important in some aspects – take Bitcoin, for instance, whose value proposition as money requires each coin to be indistinguishable. However, fungible tokens should by no means be the only pursuit: the success of non-fungible assets such as CryptoKitties has shown that there’s demand for provably rare assets.
This is why we’ve developed the ERC-1155 standard, an Ethereum-based framework for tokens that denote unique or scarce digital items. We use this for gaming (rare weapons, skins or skills) but it’s highly versatile, and could be used in applications such as issuing land deeds or unique artwork.
How does Enjin use non-fungible tokens?
Non-fungible tokens can be used to tokenize any kind of item or asset that can be differentiated from the next. Assets such as artwork, land deeds, collectibles, and certificates can be easily placed on the blockchain but we’re focussing on gaming assets. There is a whole host of gaming items that will become more personal and valuable once they have their own identity, history, and provenance. Non-fungible tokens are a real-world use case waiting to happen.
Do you see non-fungible tokens overtaking cryptocurrency?
The two are very different, and address two different needs. It’s hard to see cryptocurrency going away anytime soon. That’s why we created ERC-1155 as a means to serve all potential usecases for tokenization. Everything that can be owned can be tokenized using this one standard—from fungible items like votes, securities, coupons, and money to non-fungible assets such as artwork, land deeds, collectibles, and certificates.
What do you see as a necessary step to mass adoption?
It’s often overlooked, but UX/UI is of very important. Even now, ten years on, a great deal of technical knowledge is necessary to comfortably transact across a blockchain network. The end goal of any application should be to build a device that you can pick up and use comfortably with no research required.
Any concerns over what might impede this?
The key to enabling great UX/UI to flourish is to get blockchain integration tools into the hands of great UX/UI designers. The more we can democratize this technology and lower the barrier to entry, the more innovation we will see come out of the space.
What’s next for the Enjin team?
The ERC-1155 token standard will be finalized and released very soon, as we recognize that it has applications beyond gaming, and can serve the wider ecosystem.
We will also have multiple mass-market products released to the world such as the Blockchain Software Development Kit for Unity, the world’s largest game engine, making it easy for game developers to implement blockchain assets into their games. Within a year we will have hundreds of games adopting our blockchain development solution.
Within a year we would have released EnjinX which we predict will become the most popular blockchain-based web app within 12 months. It’s created to be the Google of blockchain. A clean, simple, and easy way to navigate blockchain data with APIs that seamlessly aggregate data for easy integration into websites, platforms, games, and apps.
We will also release the Efinity scaling solution which will allow instant transactions for ERC-1155 tokens with next-to-no fees, along with our Minecraft integration tools and many other tools specifically designed to make it easy for developers and entrepreneurs to create and integrate their own blockchain-powered assets.
For more information, visit https://enjincoin.io/