Tronic, a Web3 startup, launches products to solve NFT tools for brands, creators and holders
Tronic builds a bridge between Web2 and Web3 by creating a completely new customer category
commitment built around the NFT tool.
DALLAS, 8 September 2022 /PRNewswire/ — Tronic, a Web3 startup focused on bringing value to NFTs, today announced the beta launch of their product known as Utility Engine to empower brands, creators and holders to offer and fulfill all tool for any NFT on EVM compatible blockchains. The team also launched a new brand and website to showcase their product range.
We believe our Utility Engine will align incentives and make it easier for Web3 stakeholders to build brands, drive adoption, and improve utility across the ecosystem.
For years, NFTs have been unable to deliver on the promises of utility and create long-term value for the Web3 community. Three challenges have slowed down an economic feedback loop: First, there are incentive problems. Creators have not been able to generate revenue beyond primary and secondary sales of NFTs, since minting more NFTs only dilutes current holders. Second, there are functional limitations. Brands have not been able to access NFT markets because the technology has not yet existed to target holders or fulfill utility. Third, there are user restrictions. Holders have not been able to quickly and easily create wallets, use the benefits offered by creators, and access interoperable projects.
“We believe our Utility Engine will align incentives and make it easier for Web3 stakeholders to build brands, drive adoption and improve utility across the ecosystem,” says Travis McElroy, CEO of Tronic. “Our strong vision for the future of NFTs rests on fixing this broken feedback loop, feeding the flywheel of the brand adoption tool, and forming a network of other brands, creators and holders to continue building the future of the web.”
To date, Tronic’s Utility Engine has enabled the delivery of utility for innovative projects such as Chill Cowboy and True Collective, as well as helping agencies such as Artistry Alliance serve their clients by promoting NFT goods and marketplaces. Tronic also has other big household names working to deliver value across the blockchain.
“It’s a very exciting time to be in this space,” according to Jeremy Moore, Tronic’s CTO. “We’re seeing tons of interest and more competitors popping up, which tells us that there’s a lot of demand and traction for what we’re doing, that we’re on the right track. The potential for Utility Engine’s technology is just huge.”
Common tools for NFT projects include peer-to-peer access, streaming, discounts, voting, approval list management, airdrops, giveaways, raffles, real-life (IRL) and online (URL) tickets, in-game tools, and much more. Despite much of the hype and promise surrounding NFT technology so far, there has been little tangible reward for much of the market.
Parker Smith, Tronic’s VP Product, argues that platforms such as Utility Engine will prove to unlock this potential. “When a product comes to market that can solve the core problems surrounding NFTs, it will be like opening the floodgates to completely new possibilities.” He compares this period to the beginning of e-commerce and the liquidity that technology created. “We think Utility Engine is that product.”
In addition to the Utility Engine and the new brand and website, Tronic will also market with checkout and marketplace experiences for Web3 projects, aptly named Checkout 3 and Marketplace 3. See the full suite of products on Tronic’s website, tronic.app.
To better understand the problem and solution underlying the Utility Engine, read Tronic’s latest white paper and join their beta program.
About Tronic
Technology should make it easier for everyone to create and experience long-term value. We believe blockchain technology is the best way to do just that. That’s why we built Tronic, the world’s most customer-centric Web3 company. Through products like Utility Engine, Checkout 3, and Marketplace 3, we’re simplifying the blockchain landscape so that everyone—brands, creators, and holders—can serve their communities and bring their vision to life.
Tronic has its headquarters in Dallas, Texasand can be found at tronic.app.
Media contact:
Curtis Hale
806-543-8068
[email protected]
SOURCE Tronic
