SAN FRANCISCO – October 15, 2021 – TRON, one of the largest blockchain-based operating systems in the world, today announces an upcoming partnership with Sony Interactive Entertainment.
Tron will provide the games company with its blockchain and expertise to enable in-game purchases, in-game item trading, and to facilitate fast cross-border payments in addition to the Tron infrastructure.
Sony has been at the forefront of blockchain technology, starting as early as 2016 to experiment with the technology, and initiating the development of a blockchain-based system for managing digital rights in 2018.
Blockchain makes it difficult to destroy or tamper with data and has been well suited for managing data and rights. However, the technology has enormous potential for the gaming industry, as illustrated by the rapid growth of blockchain games and gaming-to-win business models.
The main challenge facing blockchain-based game companies are scalability issues and high transaction costs. Therefore, the Sony team decided to start testing the Tron blockchain for potential user experience improvement.
As Jim Ryan, President and CEO of SIE, noted: “When creating a game, the gaming experience is at the center of everything we do. Therefore, we want to make all value-related transactions as smooth as possible, at low cost without sacrificing the benefits of blockchain. This is why we have decided to partner with the Tron Foundation to use their blockchain ecosystem for further game development.
Tron was started by entrepreneur Justin Sun to challenge the existing media industry. Running on a delegated proof-of-stake mechanism written in Solidity, the Tron blockchain offers developers fast transactions at low cost, exceeding Ethereum’s transactions per second.
In an effort to facilitate cost-effective ways to share content, Tron began investing heavily in the growth of its gaming branch this year, which was facilitated by the launch of its NFT TRC-721 token standard in March 2021. Despite the economic incentives for businesses, enabling blockchain gaming has a huge impact on the ownership of in-game items.
Justin Sun, CEO of the Tron Foundation shares: “As soon as you transform game elements into NFT, you provide players with actual and provable ownership of the element whereas in a centralized gaming environment that ownership can technically be revoked. at any time. point. In addition, having objects in the form of NFT offers the possibility of exchanging them between games, in the markets even outside the game and allows a better use of capital. We are delighted that Sony is using the Tron blockchain to benefit from these features. “
Sony will use the Tron blockchain to facilitate in-game payments, by chaining existing game elements, and plans to start offering some of these elements through the new official NFT marketplace based on Tron and built in collaboration with DeFine. .
TRON is dedicated to accelerating the decentralization of the Internet through blockchain technology and decentralized applications. Founded in September 2017 by Justin Sun, the company has achieved a series of achievements including the launch of MainNet in May 2018, network independence in June 2018 and the release of TRON Virtual Machine in August 2018. July 2018 also marked the acquisition of BitTorrent, a pioneer in decentralized services with around 100 million monthly active users.
About Sony Interactive Entertainment
Recognized as a global leader in interactive and digital entertainment, Sony Interactive Entertainment (SIE) is responsible for the PlayStation® brand and family of products and services. PlayStation has innovated in the market since the original PlayStation launched in Japan in 1994. The PlayStation family of products and services includes PlayStation®5, PlayStation®4, PlayStation®VR, PlayStation ™ Store, PlayStation®Plus, PlayStation ™ Now, and acclaimed PlayStation software titles from PlayStation Studios. Headquartered in San Mateo, California, SIE is a wholly owned subsidiary of Sony Group Corporation and has global functions in California, London and Tokyo.
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