TRON Arcade Plans to Dominate the Gaming Industry
According to CCN, TRON announced on December 20, the establishment of TRON Arcade. TRON Arcade is a $100 million blockchain gaming platform designed to build the foundation for a robust blockchain gaming ecosystem. TRON recently partnered with ten companies to kick off the project.
It’s important to take into account that TRON is a 15-month project, emerging in September 2017. Despite how young the company is, they’re showing great promise and growth moving forward with offices around the world in San Francisco, Singapore, and Beijing.
Just a few months ago, TRON had acquired BitTorrent for $126 million and launched Project Atlas, a new initiative to decentralize the internet’s content via blockchain technology. TRON Arcade, the blockchain gaming fund, is another project under TRON’s list of initiatives designed to help the organization achieve the same core vision- that the internet should be decentralized and in the hands of people across a global, borderless economy.
When it comes to blockchain-based games, in the past, these games have been met with mixed results. While many blockchain gaming projects have emerged, market adoption, penetration, and retention have been very difficult. They pose as major challenges for the first movers who are venturing into the blockchain gaming market.
TRON however, has a significant technological and community advantage over the first-movers. The TRON blockchain platform has a strong and robust technological infrastructure which places the company in a strong position to enter and disrupt, the $1.8 billion gaming industry. While the blockchain industry hasn’t cracked the gaming sector just yet, TRON CEO Justin Sun is confident that TRON has the ability to overcome the existing technical constraints and limitations. These include scalability, speed, and the cost of maintaining large games on big platforms like Ethereum, which unfortunately have resulted in many failed gaming ventures.
He mentioned that “Product-wise we have super-fast blockchain technology with almost free cost.” TRON is able to surpass 1.3 million transactions per second and has broken Ethereum’s record. TRON will, however, need to demonstrate that the network can handle a steady flow of millions of transactions and not just peaks of transactions at that magnitude. In addition to these challenges, the blockchain industry has failed to attract the number of developers they need to reach critical mass.
TRON, however, provides an interesting value proposition to software and gaming developers. With over 900,000 community members and over 2.5 million transactions processed in one day, they provide developers with instant access to a flourishing market. On top of their growing adoption, TRON is also listed in over 100 exchanges, with 159 TRON trading pairs to choose from. Binance also recently added the TRON and Tether USD pairing to increase the token’s liquidity. Furthermore, they also aim to assist projects which have struggled financially with maintaining the costs of low-traffic games on other blockchain networks.
Despite these positive results, TRON will still need to overcome many challenges that have prevented the wider acceptance and accessibility of blockchain-based games. Sun noted that “TRON is dedicated to bringing blockchain technology to mass market. To do that, we are focusing on the consumer internet vertical, so as to introduce more people to blockchain technology.” It’s currently too early to tell if TRON’s model will work as they intended. If TRON is successful, it could kickstart a new era of greater mainstream blockchain adoption.
As for the token, Tron’s market capitalization currently sits at $1.845 billion, with a TRON token valued at $0.018. It’s currently ranked as the 10th most popular cryptocurrency token on Coinmarketcap. Like other tokens in the market, TRON’s value also fell and decline in 2018 as the bearish market push the token’s all-time high in early January at $0.25 to $0.019 today. Despite these declines, TRON is currently bouncing back up. Its price has increased by 13.65% over the last 24 hours.
What are your thoughts on the situation guys?
Do you guys think that Tron is going to kickstart the mass adoption of blockchain in the gaming industry?
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