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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.
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.
STORY CONTINUES BELOW
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- 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.
Read more: Tron, Stuck in Polygon’s Shadow, Deserves Its Own Place in the Sun, Founder Says
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
