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 Announces 'Big Win' Announcement, Helping BTT and TRX Surge

BitTorrent’s token (BTT) and TRON’s TRX have both recently seen their prices rise after Justin Sun announced a “big win for the blockchain community” is going to be announced on June 3, likely helping speculators invest in the cryptocurrencies.

This is notably not the first time Justin Sun announced an announcement on social media to his over 1 million followers. Earlier this week, he claimed something “huge and amazing” could soon be shared with them, although he noted he had a “70% chance to win and nail it.”

In his new announcement of an upcoming announcement, he revealed he “did it,” and it was a “big win” for the community, and detailed the announcement was coming on June 3.

Some believe the upcoming announcement initially referred to the release of the BitTorrent File System (BTFS) protocol, that’s set to allow users to “receive and host storage and their computers with other individuals and businesses.”

Although it isn’t yet clear what Sun is planning to announce, his tweets have influenced the market, as the value of both TRX and BTT surged shortly after he posted them.

TRX, BTT Surge thanks to Justin Sun’s Tweets

Currently, according to CryptoCompare data, the price of TRX is up by 13% in the last 24-hour period, as each token is trading at $0.04. In the last 30 days, the cryptocurrency’s price went up by nearly 65%, and its trading volume has accompanied it.

TRX's price erformance in the last 30 days

BitTorrent’s BTT token, on the other hand, only rose by 4.2%, with each token trading at $0.00169. In the last 30 days it’s up by a whopping 153%, and the recent rise came after a dip to $0.0015, which could mean Justin Sun’s tweet coincided with a recovery.

As some analysts have claimed, BTT’s drop is expected as according to a Medium post from BitTorrent, the piracy-focused token is being distributed to TRX holders, with an airdrop that’s totaling 1.2% of its supply, 11.88 billion tokens, being rolled out this year.

This could add selling pressure to the price of BTT, as some users are likely going to sell their token as soon they get them. Moreover a recent announcement from Opera revealing it’s set to add support for the TRON blockchain and multiple others on its built-in cryptocurrency wallet is likely also aiding the tokens.

BTT is a TRC-10 token based on the TRON network, launched after its acquisition of BitTorrent was confirmed. Likely supporting the price’s rise could be the addition of new decentralized applications this week, that brought the network’s total to 447 according to a TRON weekly update.