In the context of blockchain gaming, a blockchain asset is a category of in-game assets that can be anything from an item (e.g., sword, gun), real-estate (e.g., house, castle, asteroid, planet), or vehicle (e.g., starship, car, carriage) to a creature (e.g., dragon, horse, cat), player character, or non-player character (anything from creatures such as dragons to sidekicks you can own).

Blockchain assets can be fungible (identical) or non-fungible (unique).

Blockchain assets can have both intrinsic value and backed value.

Intrinsic Value

The intrinsic value of a blockchain asset can depend on multiple variables:

Rarity: More rare, more valuable.
History: Owned by famous streamer? Used in an epic battle? Crafted by a well-know player? Valuable.
Player Customization/Input: E.g., a house built by a pro builder; a painting done by a talented artist; an in-game book written by a great writer.
Stats: E.g., a sword that can kill anything.
Multiverse Usability: Is the item usable in more than one game? Valuable.

Intrinsic value can also be defined as a blockchain asset’s selling price.

Backed Value

Blockchain assets created with the Enjin Platform have their value backed with Enjin Coin (their "ENJ-backed value"). Backed value is essentially the amount of ENJ that’s locked inside an asset.

An asset’s backed value can be nominal, while its intrinsic value can be high.

It can also be the other way around for games that fail to attract an active user base or for games (or game servers) that get shut down after a while. In such cases, the backed value of assets may actually be higher than their intrinsic value, and it is likely for them to be melted back into ENJ, unless they can be sold on the marketplace as a collectible/memorabilia.
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