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Tron Funds a BlockChain Gaming Fund Worth Over $100 Million

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by Teuta Franjkovic · 5 min read
Tron Funds a BlockChain Gaming Fund Worth Over $100 Million
Photo: TRON Foundation

TRON, the decentralized blockchain-based protocol that aims to build a worldwide free content entertainment system, has recently announced the launch of a $100 million blockchain gaming fund.

Named the “TRON Arcade,”  everything is designed to empower developers to create and develop blockchain-based games. The fund is part of TRON’s long-term commitment to develop and grow the blockchain industry.

According to the Foundation’s official announcement, Tron Arcade will focus on funding the $100 million on various projects for the next three years. This comes with the aim to encourage the developers to build their new games and content on Tron, making it one of the core gaming blockchain ecosystems.

This step is marked as one of the most important one taken by the Foundation as it creates a pathway to promote the adoption of blockchain and especially in the gaming industry. Additionally, the Foundation will also be stepping into various other industries, including consumer internet, social media, charity, enterprise solutions and entertainment.

CEO Justin Sun stated that the Foundation “strives” to solve the existing problems which are prominent in the gaming industry. He added that the Foundation will achieve this with the help of the blockchain technology.

“TRON Arcade will play a crucial role in encouraging developers to join in our mission and provide the best blockchain gaming experience to users around the world”

According to Sun,  TRON Arcade will play a crucial role in attracting developers to the platform. He explained that the open, transparent, and immutability of blockchain technology will tackle key issues found in the gaming industry.

“TRON strives to tackle existing issues faced by the gaming industry by leveraging the open, transparent, and immutability of blockchain technology. TRON Arcade will play a crucial role in encouraging developers to join in our mission and provide the best blockchain gaming experience to users around the world,” Sun said.

Not only could the launch of TRON Arcade cement the company as a leader in blockchain technology implementation; TRON has also had an incredibly successful month. TRON (TRX) showed substantial growth, surging 32 percent between Nov. 28 and Nov. 29.

The cryptocurrency market has experienced a large decline in price with billions of dollars lost in market capitalization and dying crypto projects everywhere. However, despite the negative sentiment and gloomy market conditions, TRON has been pushing forward with constant developments.

Video and mobile games have always been a driving force for new forms of entertainment, and games are often the first test applied to new emerging technologies. As augmented reality (AR) and virtual reality (VR) technologies grew over the past few years, we have seen a tenfold increase in VR and AR games. New technologies drive new gaming experiences, and blockchain is no different. The unique advantages of blockchain technology, like immutability, security, and the ability to activate decentralization, create more room for imagination in the gaming industry.

The crypto project recently launched a $1 million TRON Accelerator Program that’s poised to spur growth, innovation, and development of decentralized applications (dapps) on the TRON blockchain.

In the midst of the 11-month long bear market, the TRON foundation spent $120 million to acquire BitTorrent, the file-sharing platform with over 100 million users. Realizing this move’s full potential is yet to come, in the meantime, TRON has announced that Project Atlas will pay BitTorrent seeders in crypto.

Yet another recent development by TRON is the beta release of their first decentralized exchange (DEX), TronWatch Market. This DEX will allow traders to easily and securely trade between TRON, TRX10, and TRX20 tokens.

Just for reminder, in October we first heard of Tron when there were rumors that a blockchain startup aiming to decentralized the internet had started working on a partnership with a tens of billions of dollars worth industry giant. This information was published exactly by Justin Sun, the founder of the Tron cryptocurrency.

Nevertheless, the name of this potential partner was not provided. What’s more, Justin asked the audience to guess with whom they were trying to establish cooperation. As there were no further details, the digital currency community quite quickly made a conclusion that it could be China’s largest Internet search provider Baidu.

However, not only has TRON surpassed Ethereum in the number of dapp users, but they also exceeded the number of transactions and transaction volume through dapps.

IDEX, an Ethereum-based decentralized exchange and once the most popular dapp in the world, has been surpassed by TRONbet. TRONbet is a decentralized gambling app, and it beat out IDEX in terms of the number of users and 24-hour transactional volume.

DappRadar reported that TRONbet had a 24-hour transactional volume of 200 million TRX (around $3.5 million), while IDEX only had a 24-hour trading volume of 2,600 ETH (around $300,000).

It surpasses Ethereum’s top dapp by a long shot.

The top 15 TRON dapps are related to gambling while the other 3 are gaming dapps.

According to CoinMarketCap, at time of writing, Tron is trading at $0.013 with a market cap of $909 million. The coin has a trading volume of $161.65 million and has witnessed a fall of more than 14% in the past seven days.

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