Tron (TRX) Launches Its First Game, Thanks to BitGuild

Justin Sun, CEO and founder of the TRON Foundation, recently announced the first blockchain game based on the TRON network to the world. The game is called Magic Academy and was developed by BitGuild.  The tweet can be found below: 

The team at BitGuild consists of cryptocurrency and gaming experts from all over the world, including former employees of Facebook, Reality Squared Games, and other well-known and reputable tech companies. Justin Sun also serves as an advisor to the company.

The company believes blockchain would help verify the integrity of transactions in the gaming sector, an industry that is riddled with fraud in general, to the tune of billions being lost annually.

BitGuild’s focus is on the fact that players will be able to customize their players and digital assets more than ever, and developers can also create and sell digital assets in a more secure fashion thanks to blockchain technology. Blockchain technology will also allow digital assets to be verified in terms of their value and scarcity, which led to a rise in interest in the CryptoKitties game in late 2017.

The game Magic Academy revolves around wizards, and the team elaborates that “by buying wizards, you can upgrade your currency in this magic world”. Similar to other video games, there will be a ranking list, listing the production speed of players worldwide. There will also be rare item prizes to provide incentive to gamers, as well.

Recent Tron Progress 

TRON has certainly been busy, and Justin Sun updated investors and enthusiasts during a live stream on September 29 regarding TRON developments. During the live stream, he made various announcements and updates.

First, he pointed out that Tron had burned 98% of its ERC20 TRX tokens – amounting to around 97 billion tokens - since Tron has migrated away from the Ethereum blockchain. He also elaborated on how exactly he hoped that Tron would integrate with BitTorrent, which he purchased recently. During the stream, he also boasted that Tron had gained more users in the days after its Mainnet launch when compared with Ethereum in 2015.

Time will tell whether Magic Academy is a success, and catches on with gamers, although the association between Tron and BitGuild certainly has potential.

Justin Sun: TRON Aims to Get to 2,000 Dapps by the End of 2019

The head of the TRON Foundation, Justin Sun, has recently spoken about the cryptocurrency's ecosystem and about the development of decentralized applications (dApps) on it. Sun revealed TRON is looking to launch 2,000 dApps on its blockchain by the end of the year.

The TRON Foundation, an organization focused on the ongoing development of TRON (TRX), one of the largest platforms for building decentralized applications, has argued that price “instability” in the crypto market “creates a lot of skepticism about the long-term prospects of the blockchain industry.”

The organization explained in a blog post, posted on April 17, that “companies and institutional investors are sitting on the sidelines and not [using] blockchain or cryptocurrency as a form of payment because” of the extreme volatility of cryptoasset prices.

TRON-based USDT Will Help Stabilize Crypto Market

The Foundation’s recently published blog post revealed:

[High volatility in cryptocurrency prices] is a big reason why we need stablecoins on the TRON network. By implementing a [TRC-20 based] USDT on [the] TRON blockchain, we’re taking a [huge] step into a world representing stability — and into the world of decentralized finance.

The TRON Foundation’s management also noted that “users in [South] Korea will be able to quickly and efficiently transfer” USDT payments “back to relatives in Israel” or in other countries throughout the world. It added that “consumer electronics [manufacturers] will able to pay Asian suppliers and track the progress of their purchased goods every step of the way.”

More Trading Pairs For USDT Including BTT, TRX

Commenting on the Foundation’s decision to implement a TRC-20 based USDT stablecoin on the TRON network, Justin Sun remarked:

I think of USDT built on [the] TRON blockchain as a win for the blockchain industry and for our community. More people will be able to trade TRX, BitTorrent (BTT), and other TRC-based tokens through the TRC20 based USDT pair, creating liquidity. In turn, liquidity helps build confidence and trust that typically results in greater stability throughout the ecosystem.

As mentioned in the organization's blog, an “incentive plan to reward holders” of the TRON-based USDT token will be launched, “by airdropping super-attractive APRs over the first 100 days after launch.”

The incentive plan has been introduced in order to help “accelerate the transition from the USDT-Omni product” into a “more robust TRC-20 based USDT offering,” the TRON Foundation's blog stated. Going on to confirm that the TRON Foundation does not hold any user assets, the distributed ledger technology (DLT) development organization noted the funds are “safe and sound on [blockchain-enabled] exchanges and in individual wallets.”

Explaining why the introduction of the TRON-based USDT will help the cryptoasset ecosystem, Sun said:

As we introduce this new stablecoin, I ... firmly believe it will accelerate our push to be the leading platform for developers of dApps. We already have nearly 300 [dApps] on TRON in just a few months, and we aim to get to 2,000 by the end of this year. More people will be able to engage with these dApps as it’s a lot easier for people to understand and use a stablecoin in a consumer-facing use case.