Decentralized cryptocurrency protocol TRON has recently revealed that it’s set to invest $100 million into a blockchain gaming fund called TRON Arcade over the next three years. Its goal is to spur innovation in its blockchain and bring it to more users.
According to Venture Beat Roy Liu, the head of business development at TRON, revealed the organization believes the first thing to take off on similar platforms are usually games. Comparing its potential to mobile platforms, Liu noted that since 2007, when the first iPhone was released, the market for these has expanded to $70 billion.
Our mission is to bring the blockchain to mass market. Games led the way to make smartphones and virtual reality more accessible. Now it’s happening with blockchain.
Earlier this year, as CryptoGlobe reported, TRON acquired peer-to-peer pioneer BitTorrent Inc – the company behind the popular uTorrent file-sharing client – for a reported $140 million. Per Liu, TRON Foundation’s CEO Justin Sun hopes to popularize crypto among BitTorrent’s current over 100 million active users through a tokenization project, known as Project Atlas.
Notably, TRON gambling decentralized application (dApp) TronDice has earlier this month hit the $5 million mark of funds paid out to users. Liu further touted that blockchain-based games have unique items as non-fungible tokens, and allow users to earn for playing by selling these, as some can be valuable.
Addressing the recent cryptocurrency market slump that saw bitcoin dip below the $4,000 mark for the first time since September of 2017, Liu noted that it’s “good to squeeze out the bubbles in the market. The scam projects are going out.” Per his words, only the most valuable companies will remain.
According to CryptoCompare data, TRON’s TRX token has risen about 36% in the last few days, rising from $0.01181 to roughly $0.0161 at press time.
As recently covered Sun has, during a recent interview with journalist Rachel Wolfson, claimed TRX will have improved privacy by the first quarter of next year. Liu noted that Ethereum developers would be able to have a seamless transition if they were to develop for TRON