BitTorrent Officially Confirms its Acquisition by TRON

Avi Rosten

Peer-to-peer pioneer BitTorrent Inc – the company behind the enormously popular µTorrent file-sharing client – has officially announced that it has been acquired by TRON.

In a post on their blog, BitTorrent confirmed the acquisition (reportedly worth $140million) that has been in the news for some weeks – but until yesterday was unconfirmed by the company itself – commenting:

We are excited to announce that TRON has officially closed its acquisition of BitTorrent… BitTorrent will continue operating from TRON’s new San Francisco location, which is now the center of operations for the company’s global market expansion. The division will provide robust support for TRON’s global business development and partnerships, while pursuing its vision for the world’s largest decentralized ecosystem.

Adding that the company will “continue to provide high quality services," the company explained on Twitter that as a pioneer of decentralisation, they are looking forward to building the “decentralized internet:"

 

 

With over 100 million active users of µTorrent, the BitTorrent Play app and other desktop clients, the acquisition for TRON is a significant milestone for the company – following the launch of its mainnet on May 31st.

The price of Tron’s TRX token, however, seems to have dropped substantially since the announcement of the BitTorrent acquisition – which saw the token surge over 18%:

trx six months.jpgSource: CryptoCompare

With founder and CEO Justin Sun last month mentioning a “secret project” to be announced at the end of July, TRX investors will be playing close attention to whether the news will push the price out of its downward trend.

Crypto-Backed Virtual World Decentraland Goes Live

  • Cryptocurrency-backed virtual world Decentraland has made its official launch.
  • Users have traded more than $1 million in virtual assets over the last ten days.

The cryptocurrency-backed virtual world Decentraland has made its official launch, giving users the ability to spend real money on digital property.

Decentralaland, which raised more than $20 million during its initial coin offering (ICO) held in 2017, has officially launched its virtual reality world living on the Ethereum blockchain.

Users have been rushing to spend money on virtual plots of land they hope will appreciate like real-world real-estate. As previously reported, crypto gamers spent more than $600,000 last week to purchase digital plots of land in the leadup to Decentraland’s official launch. 

Long-time holders of Decentraland’s native coin, MANA, are also cashing in on the craze, with the asset more than doubling since the beginning of 2020. According to data collected by NonFungible, more than $1 million in assets have been traded via Decentraland over the last ten days, making the project’s virtual world the most active entity on Ethereum’s blockchain. 

Ari Meilich, the game’s project lead, told Bloomberg in a phone interview,  

The users are in control of the digital assets, which is something that hasn’t happened before.

He continued, 

We think that over time players will gravitate toward games where they are more in control.

Decentraland is already trading more than 10 times the virtual assets as CryptoKitties, which was previously one of the most popular Ethereum network applications. 

Featured Image Credit: Photo via Pixabay.com