Tron Foundation Expands Footprint, Invests In Decentralized Gaming Startup PlayGame
Tron Foundation, the company behind the decentralized internet protocol TRON and the eight largest crypto token TRX, is expanding its footprint in the decentralized gaming industry with its latest investment into blockchain-based gaming platform PlayGame. Is Tron gunning to become the king of decentralized applications?
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Decentralizing the Gaming Industry
In line with its commitment to develop a flourishing decentralized gaming economy, TRON has invested an undisclosed amount into a three-month-old Indonesian blockchain gaming platform PlayGame. Tron’s cash injection is in addition to the $7.7 million USD raised last year via a token sale.
Meanwhile, the funding from TRON will be directed towards expediting the launch of its proof-of-play efforts and development of a crypto payment gateway, as reported by Tech In Asia. The development efforts harmonize with PlayGame’s roadmap, whereby they pledged to launch a crypto payment gateway and develop a wallet and trust protocol in the first quarter of 2019.
Certainly, the investment makes sense knowing that the Tron Foundation and PlayGame are both working towards the same goal–empowering developers, and most importantly tackling existing issues in the space, such as a lack of transparency and inefficient payment systems. Apart from that, both projects aim to increase the use of cryptocurrency in the gaming economy.
The PlayGame website states that it intends to create a “healthy, inclusive and transparent gaming ecosystem” that will benefit both developers as well as gamers.
Becoming King of the Dapps?
Blockchain-based games are a crucial part of decentralized applications (Dapps), making up a quarter of all Dapps currently developed. The TRON network is looking to become a leader in the space.
According to dappradar rankings–a website that ranks top decentralized applications, of the top ten Dapps, four are built on the Tron Network. However, when it comes to decentralized games, TRON has only two blockchain-based games in the top ten, while its competitors EOS have six and Ethereum two, respectively.
Apart from that, Ethereum tops in total number of blockchain-based games with over 389 games on its network, while EOS has about 34. The PlayGame token (PXG) is an ERC 20 token built on the Ethereum blockchain, and it is yet to be revealed whether or not it will migrate to the Tron network.
PlayGame Joins Ox
Most recently, decentralized gaming platform 0xgames partnered with TRON to launch its latest game dubbed 0xWarriors by leveraging Tron’s blockchain platform. The previous version of the game, 0xUniverse, was launched on Ethereum’s platform.
Recently, Weiss Rankings revealed that TRON is set to oust the Ethereum network when it comes to network growth. EOS is currently leading the decentralizing application ecosystem with TRON a close second.
Just today, TRON founder Justin Sun told Venture Beat that the Tron network sees two to five new games uploaded every day. Per Dappradar, the Tron network has only 29 games as of today on its network.
Sun also claimed that the reason developers prefer Tron over Ethereum is for its support and speed:
“Some people have said that our technology is similar to Ethereum. We’ve been giving the community very good feedback on that. We’re distinct from Ethereum. We use a deep host mechanism that’s 200 times faster than Ethereum.”
For the Tron Foundation, the investment in PlayGame will also broaden the reach of the TRON ecosystem and its native token TRX. PlayGame is slated to launch in Q3 2019, with expansions into Japan and China.
Last year in November, TRON announced a $100 million gaming fund known as Tron Arcade, that would invest the amount over a three-year period.
Last week, TRON signed a Memorandum Of Understanding (MoU) with two South Korean organizations–the Korea Mobile Game Association (KMGA) and the Korea Blockchain Contents Association (KBCCA), in a move that would allow the Tron network to expand into South Korea’s estimated $5.6 billion gaming industry.
Will TRON become the king of decentralized applications? Share your views in the comments section below.
Images via Pixabay