What is Engine (ENGN)? Is ENGN a Good Investment?
Blockchain gaming has become popular over the past year. The explosion in popularity has led to the rise of many services that make it easier for traditional games to make the leap to blockchain gaming. With that in mind, this article will discuss everything you need to know about a blockchain gaming project called Engine along with whether or not Engine’s native token ENGN is a good investment.
What is Engine (cryptocurrency)?
Engine is a relatively simple crypto project to understand from a high level perspective. Basically, it’s an Ethereum game engine that allows developers of non-blockchain games to integrate blockchain features (ie. play to earn) into their game.
It’s meant to bridge the gap between traditional games and blockchain games.
Now, there is a similar project with a very similar name called Enjin (EJN). Enjin has been around for much longer, has a larger team, and is the go-to for these types of features in blockchain gaming.
It almost appears that the Engine team selected the name in order to piggyback off the name recognition of Enjin.
This is not something that we really like to see in a project. It’s a borderline red flag for a project. The next section will cover some of the tokenomics of Engine’s native token ENGN and go into detail about the investment prospects of this token.
What is ENGN Token?
ENGN Token is the native token of the Engine Protocol, which is a service that allows videogame developers to easily port videogames to the blockchain and add blockchain specific features.
In the Engine whitepaper the developers give a brief overview of how the ENGN Token works. It’s not that great of an overview in our opinion. However, the basics are that Engine is a base platform for blockchain games. If a game wants to use Engine Protocol, then it must use ENGN Token, which will create demand for the tokens.
Unfortunately, the whitepaper does not go into specifics about the tokenomics. It also fails to mention the total supply, maximum supply, or token creation of ENGN Token.
Our Problems With Engine (ENGN)
We have a lot of issues with Engine (ENGN). Most of these problems stem from the horrible whitepaper that the developers have decided to publish.
To keep things simple, the whitepaper is horrible. It does not go into specifics about anything relevant about the project. The first few pages of the whitepaper cover rather basic concepts like “What is Blockchain [sic]?” and “How Blockchain [sic] Works.”
That’s already a bad start to a whitepaper. The whitepaper also has a decent amount of rather basic grammatical errors, but we will let that slide as the developers are not native English speakers.
Another issue we have with the whitepaper is that it starts listing off random features that Engine plans on adding to the protocol. These include ENGN VR, which they claim they already have a team developing cutting edge VR software. This does not appear to be the case as the team listed on the website only consists of two people.
Next, the whitepaper mentions something called ENGN Neuro Tech. ENGN describes that as mapping brain waves and subsequently having the game react to different brain waves.
This is pretty groundbreaking technology as it allows game developers to provide content based on the emotional state of the player.
Unfortunately, ENGN simply mentions this without elaborating on how they plan on implementing this. Personally, we find it highly unlikely that ENGN is working on any neuro gaming technology as it’s an extremely complex technology that requires a lot of specialists.
Finally, a major red flag we saw in the whitepaper was this one sentence:
“ENGNGames cooperates with many clients for developing Ultra-realistic games.”
This is a red flag because they do not list any of the “many clients” they work with to develop these ultra realistic games.
Is ENGN a Good Investment?
No, it’s our opinion that ENGN is not a particularly good investment. The project tells a good story, but they do not have anything to back up any of the claims that they make.
Enjin offers similar products for game developers. However, they back up all the claims that they make, which is what a company should obviously do. Companies that make large claims like developing ultra realistic games for many clients should be able to back up those claims.
We have also read a complaint from a user on Reddit that Engine stole graphics from a separate game and artificially pump ENGN’s token price. We cannot verify these claims, but Engine does not appear like a particularly trustworthy project.
Where to Buy ENGN?
ENGN is only available on Uniswap V2. It has a decent amount of trading volume at $38,000 worth over the past 24 hours. However, we cannot verify if that trading volume is legitimate or if it’s simply wash trades.
Again, this is a project that we do not believe to be a good investment.
To summarize, Engine makes a lot of big promises and claims. But it does not offer much in the way of proof to back up these claims nor planning about how to fulfill the promises. For these reasons, we are of the opinion that this is not a safe investment. Of course, you should do your own research before making any investment decision.