Tron Foundation Launches $300M Fund to Invest in GameFi Projects

The Tron Foundation is launching a $300 million fund, Tron Arcade, that will invest in play-to-earn projects over the next three years.

AccessTimeIconAug 10, 2021 at 3:00 p.m. UTC
Updated Sep 14, 2021 at 1:38 p.m. UTC

Justin Sun’s Tron Foundation has partnered with APENFT and WINKLink to launch the $300 million Tron Arcade fund, which will invest in so-called GameFi projects over the next three years. 

  • GameFi introduces financial mechanisms into games, allowing users to make money by playing. It’s also known as “play-to-earn.”
  • The fund’s goal is to support developers and create GameFi projects by building decentralized finance (DeFi) content, the foundation said in a press release.
  • APENFT is a Tron-based non-fungible token (NFT) marketplace and WINKLink is a data oracle running on the Tron network. Both are prototypes scheduled to be completed in the third quarter, and the joint product is estimated to be available to users in the fourth quarter.
  • “GameFi is going to be the next big thing that makes the DeFi, NFT and the larger crypto space easy to understand and be involved in,” said Sun.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
July Was Bitcoin’s Worst Month Ever

Plus, European crypto regulation comes into view.

CoinDesk - Unknown
2
CoinDesk - Unknown
What Traders Are Saying About Bitcoin's Biggest Monthly Loss in 11 Years

Poor macroeconomic sentiment, fears of inflation and systemic risks from the crypto market pushed the cryptocurrency below 2017’s highs.

CoinDesk - Unknown
3
CoinDesk - Unknown
Three Arrows Capital Files for Bankruptcy in New York Tied to British Virgin Islands Proceeding

A British Virgin Islands court ordered Three Arrows' BVI branch into liquidation earlier this week.

CoinDesk - Unknown
4
CoinDesk - Unknown
Cosmos-Builder Ignite Cuts Headcount by More Than 50%, Ex-Employees Say

The reductions come amid a crypto market crash, and after the return of Ignite’s controversial ex-CEO.

CoinDesk - Unknown