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.

TRON Foundation Introduces Zero-Fee Tokenization of Assets via Partnership with Swarm

Swarm, a blockchain-based development firm which provides “fee-free tokenization of assets” that generate dividends, has reportedly decided to allow financial service providers with “proper licensing” to launch security tokens on the Tron (TRX) blockchain.

Asset providers who’ve submitted proper documentation related to know-your-customer (KYC) / anti-money laundering (AML) checks will be able to access Swarm’s proprietary software. The company’s software tools have been designed to “make it easier to unlock and capture value” across a wide variety of asset classes.

Tron-based Tokenization To Allow Faster, Cost-Effective Transactions

Moreover, tokenization on Tron will allow users to “complete transactions faster” and in a cost-effective manner, TRON Foundation’s official blog post noted. Commenting on the initiative, Justin Sun, the founder of Tron and CEO of BitTorrent, remarked: 

Swarm is one of the preeminent builders of digital investment infrastructure and its decision to adopt the TRON blockchain will further our push to make decentralized finance the next big thing for the investment community.

In addition to facilitating the free-of-cost tokenization of assets through a recent partnership with Swarm, TRON’s development team is set to launch a Tron blockchain-based USDT stablecoin.

According to TRON Foundation’s blog, the Tron-powered USDT coin has been developed through a collaborative effort involving Tether Ltd. and Bitfinex, a Hong Kong-headquartered and British Virgin Islands-registered digital asset exchange. Confirming that USDT is backed, or pegged, 1-to-1 with the USD, TRON Foundation’s blog states that the stablecoin can be used in “smart contracts for security tokens that offer a dividend to the holders.”

Using TRX And USDT-TRON To Transact In Security Tokens

Philipp Pieper, the co-founder and CEO of Swarm, noted:

TRON’s dedication to delivering fast, free solutions using decentralized infrastructure make them a natural fit for Swarm’s open tokenization technology. Issuers will be able to offer security tokens on Tron’s blockchain, and will allow investors to use TRX and USDT-TRON to purchase security tokens. This is about meeting people where they are, and opening the door for the massive and engaged TRON community to enter this rapidly growing space.

At present, TRON’s developers are also working on creating a layer-two payment and cryptocurrency transaction infrastructure, called the SUN network. The second-layer protocol will be implemented using sidechains and “cross-chain infrastructure.” According to TRON’s development team, the SUN network will enable faster and more cost-effective crypto transfers.