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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.
Updated Sep 14, 2021, 1:38 p.m. Published Aug 10, 2021, 3:00 p.m.
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.
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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
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