TRON, the blockchain platform that was developed using Ethereum and then announced itself a competitor, has opened a new investment fund – this time for video games.
The fund is called TRON Arcade, and its owners plan for it to receive $100 million over the next three years, according to CoinTelegraph. Reportedly, the aim of the fund is to “empower developers”.
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CEO Justin Sun said: “TRON strives to tackle existing issues faced by the gaming industry by leveraging the open, transparent, and immutability of blockchain technology. TRON Arcade will play a crucial role in encouraging developers to join in our mission and provide the best blockchain gaming experience to users around the world.”
TRON is a “global broadcast platform” developed on the Ethereum blockchain by Chinese national Justin Sun, who once worked as the chief representative of Ripple in China. TRON raised $70 million in its ICO, despite the fact that large sections of the TRON whitepaper had been copied from other projects. Sun has been very vocal about TRON’s superiority to Ethereum, and did not miss the opportunity afforded by the recent market downturn to stick the boot in:
In bear market, #Ethereum developers should migrate your token to #TRON immediately. 1. 0 transaction fee, no gas in #TRX. 2. Compatible to #ETH, 0 migration cost. 3. 2000 TPS. 4. #TRON dex listing. You can easily increase your token value 100% with High liquidity. $TRX
— Justin Sun (@justinsuntron) November 26, 2018
In October, Tron confirmed the signing of a partnership with Baidu, China’s answer to Google. Reportedly, the terms of the deal concern a “basic cloud business”, with the two entities using Baidu Cloud to develop blockchain products. This is a massive coup for TRON, because Baidu is an enormous company. It announced back in June that it was beginning a “blockchain transformation” with its own “super chain“.
In November, Tron launched an accelerator programme that will provide support for blockchain startups. It opened with a development competition, promising $1 million in prizes for the winners, who are to be announced at its first international conference (niTROn) in San Fransisco in January.