Tron Foundation is initiating a $300 million fund known as Tron Arcade that will facilitate play-to-earn GameFi projects for the upcoming three years.
Justin Sun‘s Tron Foundation will now be venturing into the GameFi projects via Tron Arcade, a $300 Million fund that will be invested to facilitate GameFi undertakings. The company has partnered with APENFT and WINKLink to launch the particular fund.
The concept is designed to have an immersive gaming experience by allowing the users to earn real-time money while playing online games via play-to-earn mechanisms.
Tron Foundation: $300M in GameFi projects
Tron foundation in a press release has stated that the company now intends to offer support to developers through this fund. The company further announced that they will be creating DeFi content to encourage GameFi projects and accelerate the work proceedings by making online gaming more fun and engaging.
Tron Foundation has also stated that they will be partnering with APENFT, which is a non-fungible token marketplace along with WINKlink, a data oracle that runs on a tron network. Both the prototypes are said to be completed in the third quarter and will be made available to the users by the end of 2021,according to the estimate published by the foundation.
Tron founder Justin Sun has commented that the following GameFi venture is created in a bid to offer endless opportunities to developers in the domain of decentralized finance. Furthermore, it will be an interesting concept to see online players generating real-time finance through gaming and having interactive sessions through gamification incorporated with DeFi. Sun also commented that this will indeed become the next big development in the sector of decentralized financing and will allow users to understand the related agencies of crypto in a better manner.
GameFi is one of revolutionizing technologies that make the online gaming experience much more intense and rich in content. The concept involves a real-time play-to-earn mechanism where users can earn money while playing their online games. The following technology merges the Gaming+DeFi factor to deliver an immersive and interactive gaming adventure.
Justin Sun had recently announced an NFT-based fund that was primarily focused on registering world-renowned artworks as non-fungible tokens on a blockchain network. The company at present had decided to venture into the GameFi projects which have been gaining massive popularity across the world and establish a leading position in the associated industrial domain.