Blockchain network TRON is poised to be reborn inside its first metaverse. Courtesy of MegaCryptoPolis, an interactive city that lives on the blockchain, users will be able to visit the Sun Tower, aptly named after TRON’s founder Justin Sun, and earn TRX, TRON’s native cryptocurrency, among other things.
The integration of TRON into MegaCryptoPolis further demonstrates the appeal of NFTs, which are ideally suited to TRON’s blockchain, which allows for fast and cheap transactions and interactions.
The first metaverse with an NFT marketplace
The Sun Tower is the first metaverse with a full-fledged NFT marketplace that gives users the ability to create their own NFTs. Having been in development since 2018, the Sun Tower boasts incredible attention to detail, and serves as an example of what is possible within a virtual metaverse.
TRON users can do things like purchase land plots or districts with the TRX cryptocurrency, district owners can interact with MegaCryptoPolis’ secondary market or use it to generate passive income, and you can even get a full virtual view of TRON creator Justin Sun’s virtual office inside of the Sun Tower.
Further, players can trade on the open market, produce resources that other buildings need to operate, and get a share of funds distributed everyday by MegaCryptoPolis.
The rise of NFTs
NFTs are all the rage at the moment, and with good reason. These non-fungible tokens represent unique digital assets on a cryptocurrency blockchain that cannot be counterfeited, replicated, are permanent and provably owned. All these traits make NFTs highly popular and have become the go-to way to secure digital assets and numerous other forms of value.
Even popular influencers like Gary Vaynerchuk are calling NFTs bigger than the internet, and large corporations such as the NBA have generated millions of dollars in NFT sales. NFTs are fueling a boom in digital art, though they can also be used to represent real world items like real estate, music rights, and other forms of fractional ownership.
The NFT market grew from $30 million in 2017 to over $300 million at the end of 2020, and it shows no signs of slowing down, with a single day in 2021 already outperforming total sales from last year.
Accelerating the future
In addition to entering the metaverse, TRON is pushing the envelope with defi solutions like JustSwap and JustLend and integrating them into the experience. This will allow users to enjoy the best of what both NFTs and defi have to offer.
TRON’s dedication to accelerating the decentralization of the internet through blockchain technology and defi applications is apparent with its first foray into NFTs courtesy of MegaCryptoPolis.
Founded in 2017, TRON achieved network independence in 2018, acquired BitTorrent that same year and is already one of the largest cryptocurrencies in the world by market cap, at $3.45 billion.