TRON Announces New GameFi Fund Amid Healthy Price Rebound
Login

TRON Announces New GameFi Fund Amid Healthy Price Rebound

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


The TRON Foundation has announced that it is launching a GameFi fund, the TRON Arcade fund. The company noted that it would sink about $300 million into GameFi and NFT-focused protocols developed on the TRON platform between now and 2024.

For those who do not know, GameFi is the umbrella term covering the gamification of Finance and the emergence of blockchain-native play-to-earn games. It also describes NFTs, one of the latest crypto raves used for tokenizing music, digital art, and other forms of content.

TRON created the GameFi-focused fund with APENFT and WINKLink and is undoubtedly one of the largest of its kind. Speaking on the development, TRON founder and CEO Justin Sun noted that:

“GameFi is going to be the next big thing that makes the DeFi, NFT, and larger crypto space easy to understand and be involved in […] TRON is excited to be partnering with APENFT and WINKLink to build a robust GameFi ecosystem that is accessible to all.”

The Foundation’s foray into the GameFi sector comes when the blockchain-based video games sector is in a boom. Axie Infinity, an Ethereum-based video game, is the reigning leader of the sector. The platform recently hit a whopping 1 million active Daily players, has secured $1.1 Billion on NFT sales, and peaked at an all-time high market valuation of more than $3.1 billion.

Key Tron Levels to Watch — August 13

This week appears to be ending positively for TRON (TRX) and the crypto industry. Following this week’s rally, TRX peaked at slightly above the $0.0900 level, before suffering a sharp correction to the $0.0800 support yesterday.

TRXUSD – 4-Hour Chart

That said, the twenty-fifth-largest cryptocurrency managed to hold the $0.0800 support and used that level to its advantage as a ramp to climb higher. Currently, TRX approaches the $0.0900 resistance and could snap this level, bringing it closer to the critical $0.1000 mark. We expect a bullish continuation over the coming hours.

Meanwhile, our resistance levels are $0.0850, $0.0820, and $0.0800, and our support levels are $0.0900, $0.0950, and $0.1000.

Total Market Capitalization: $1.94 trillion

Tron Market Capitalization: $6.3 billion

Tron Dominance: 0.32%

Market Rank: #25

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News