Enjin Spikes 60% On Microsoft Partnership Announcement

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Earlier this week, Microsoft announced a partnership with Enjin to create Azure Heroes – a reward system for people contributing to the Microsoft Azure world. Content creators, community heroes, leaders, mentors and makers can be nominated to win a badge that can be displayed on their profile, with each badge having a limited supply number. These badges will be issued and stored on the Ethereum blockchain and the Enjin platform will intertwine with Microsoft Azure to make this issuance possible.

Digital Collectibles Coming to Microsoft

Each of these badger badges has a fixed supply and will be issued via smart contracts on the Ethereum blockchain. People that are nominated and win one of these tokens can simply scan the QR code and the non-fungible token will be distributed to their Ethereum based wallet and can be used just like any other non-fungible token on the Ethereum platform. Crypto collectibles are becoming increasingly popular, with F1 recently entering the blockchain collectibles world with NFT Car Auction.

Enjin Pumping Hard

Enjin is no stranger to scoring big deals, as back in February it signed a deal with Samsung to help develop the crypto wallet on its flagship Galaxy S10. In the aftermath of the Samsung announcement, Enjin pumped more than 200% – most of which gains is has since lost. This fresh deal with Microsoft has seen it gain just over 60% in a few hours, with many believing the action will continue upwards for some time. ENJ smashed through the resistance of 1,000 sats with relative ease and pushed towards a seven-month high of 1,290 sats. If the action does continue upwards, we can expect stiff resistance around the 1,600, 1,730 and 1,820 levels, with the latter being the 1.618 fib extension level. However, the RSI is indicating that ENJ is severely overbought, so it’s likely that we will see it slide down towards 1,000 sats.

Enjin is making waves in the crypto world and it has managed to secure some huge deals over the past 12 months. If it continues to sign more deals, we could see ENJ finish 2019 as one of the top performers.