TRON (TRX)–While other cryptocurrencies have been content with creating a form of digital tender, TRON and founder Justin Sun have set a far more ambitious goal for the TRX token. Bitcoin, Litecoin and numerous other cryptos are going after the present state of government fiat. Through blockchain and the principles of a fully decentralized currency, they offer advantages that are more suited for the modern, digital era and open the door to true globalization. However, on a fundamental level these currencies function similar to the money we have today, albeit with certain improvements.
TRON, on the other hand, is a cryptocurrency attempting to establish an entire network backed by blockchain and decentralization in an effort to reshape the entertainment industry. Justin Sun, while criticized in the past for making exaggerated claims, has set the target for his cryptocurrency on disrupting not just one sector of entertainment, but the industry as a whole. From gaming to social media to publication, TRON is building the scaffolding to handle an immense network load, while consolidating the many outlets of digital media into one seamless and enhanced experience.
Social Media Ban Drawing More Attention to Cryptocurrency
Last month Twitter joined Google and Facebook in creating a social media cohort against the growth of cryptocurrency. While the companies have refrained from outright attacking Bitcoin and the likes of other cryptocurrency, their policy of blanket-banning crypto and crypto-related ads has created outrage in the community. The backlash against these three internet giants has even prompted blockchain organizations in several countries to enact lawsuits, including Switzerland, Russia, China and South Korea.
While the crypto-ban represents a setback for industry growth and further contributes to the skepticism of those outside the industry, a number of analysts have pointed out how this could work in favor of the growing technology:
- Cryptocurrency is built upon principles of decentralization and resisting central authority figures. When Google, Facebook and Twitter (three companies already resembling digital monopolies/gatekeepers) enact legislation against crypto, it only serves to legitimize the purpose of the technology and provide interest for subversion
- Banning something inherently draws interest. By taking a stance against crypto, despite making claims that it’s in the best interest of users, the social media giants are also driving intrigue and publicity to the industry. People will always crave what they are told they shouldn’t have. Most of the public may be uneducated at this point on cryptocurrency, but they know it has been sensationalized through the creation of overnight millionaires and more salacious stories like The Silk Road.
- If enough people get fed up with the gatekeeper/monopoly effect of Google, Facebook and Twitter, it will catalyze the drive to other other outlets. It’s hard to imagine a world without Facebook, but companies rarely last at the top forever.
The last point in particular opens the door for TRON to become widely accepted as a powerhouse in the crypto space. TRON is attempting to reshape the entertainment industry through blockchain and decentralization. A major tenet of that creation will be in establishing a novel form of social media. While it is unlikely that TRON will ever rival Facebook or Twitter in terms of market share, it could create a global, niche outlet for those disenfranchised by the behavior of traditional outlets. In addition, TRON could combine another up-and-coming technology, virtual and augmented reality, to create the world’s first VR/AR social media platform.
TRON, Virtual Reality and a New Social Media Realm
TRON is building significant partnerships in the gaming space, with Justin Sun already establishing a connection to Xu Le and his company Game.com. Xu Le has been outspoken in supporting and promoting gaming that is able to feature cryptocurrency and blockchain, and views his partnership with TRON as a win for both companies.
As a natural extension of gaming, TRON could find itself paving the way for implementing virtual/augmented reality into social media. TRON has the tools and platform to make such a union happen. The benefits to both the TRX currency and TRON brand would be immense:
- Immediate differentiation from the market. The primary barrier to new adoption in the social media space is the lack of novelty. People need an incentive to move to new platforms where they may not have the same saturation of connections. When all of your friends, family and coworkers are on Facebook, it makes the outlet that much more appealing. TRON could distinguish itself from the market by implementing cryptocurrency in addition to augmented reality features.
- Headline grabber and category of one. At this point, TRON will never be the “first” in terms of social media. Without that first-to-market status, gaining traction in the industry will be an uphill battle. But TRON can create a category of one by becoming the “first cryptocurrency based social media platform,” or the “first augmented reality social media platform.” People will always be driven to novelty and new experiences. By offering something the world has not yet experienced before, TRON can draw significant attention and interest even in the face of a goliath like Facebook.
It’s only a matter of time before we see virtual and augmented reality implemented on a regular basis with the gaming industry. TRON is well positioned at this time to be a major crypto player in the space of blockchain-based gaming and also stands to benefit from close ties to innovation in augmented reality. The clearest path for TRON in terms of building a network is to first leverage partnerships through gaming and game developers before pivoting to new entertainment derivatives and outlets like social media. Integrating augmented and virtual reality into social media could be the natural progression for the platform’s adoption, particularly if TRX and the TRON foundation can make waves in the gaming industry.