With the crypto market bouncing up and down the past week, it can be hard to make a specific stance on the goings-on. However, crypto enthusiasts like Justin Sun are doing a fantastic job in keeping the dream alive.
The founder of Ethereum competitor, Tron, is now investing $100 million in bringing video games to blockchain technology over the next three years. Now, anyone who has followed the Tron project should see this expansion as no surprise. Tron’s plan is to “decentralize the web” after all. But seeing Sun double down on the idea is positive press for the industry.
Presenting Entertainment In a New Light
In an interview with GamesBeat, Tron’s head of business development, Roy Liu, claimed that games are generally the first product medium to take off on newer platforms:
“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. Liu said that mobile platforms are a good comparison. Since 2007, when the first iPhone was released, the market of mobile games has been continuously expanding to $70 billion. Liu said you can foresee the day when blockchain technology — which offers transparent and secure decentralized ledger — will disrupt the global economic system, including games.”
The current state of blockchain gaming isn’t very solid. Most of these games are relatively barebones, with CryptoKitties being more of a trading mini-game than a full-fledged experience. However, because it was so early on and built on the Ethereum network, the title has taken off due to a lack of any competition. However, that hasn’t stopped the project from raising over $27.85 million over the course of its existence.
Blockchain-based gaming has a ton of potential, though. First off, there’s the idea of entirely unique items. Because of the way cryptocurrencies work, each in-game thing essentially has its own value. This means that something a player creates can potentially rise in price enough for them to make a significant profit. You may make a weapon that becomes so in demand that people will pay thousands for it. That market already exists in the current games industry, and a blockchain-based platform only makes it easier to do so. “You can earn stuff, or a token, while you are playing,” claims Sun. “It makes the world of Ready Player One real.”
Leading The Charge Towards Decentralized Gaming
In a previous statement, Sun discussed the potential for games on his decentralized platform:
“Online games have already proved to be the most mature area of traditional internet. In the future, when the internet is decentralized once again, online games will be undoubtedly crucial as well. Through establishing the blockchain game fund, Tron hopes to tackle with the inherent problems in the gaming area using the decentralization, openness, transparency, and immutability features of blockchain. As a result, players around the world can get the best blockchain gaming experience, and blockchain technologies can be spread. Decentralization of the internet will finally come true.”
Gaming isn’t Justin Sun’s first significant investment, either. Earlier this year, the CEO purchased BitTorrent for $150 million. He’s trying to implement the platform’s revolutionary file-sharing technology into his own platform in an initiative entitled “Project Atlas”. That said, it’s likely that he’s going to pick up similar projects as time goes on.
We’ll have to see what sort of games Tron comes up with. There will probably be some significant projects early-on, too. Tron launched its main net earlier this year to healthy numbers, and the open platform is more advanced than competitor Ethereum. That alone will bring developers to Sun’s project.