This movie came out in 1982 and was completely bypassed for winning (or even nominated for) an Academy Award. The award for that would have made the most sense is the Best Visual Effects. The movies that were nominated in 1982 were E.T., Blade Runner, and Poltergeist. No nomination for TRON??? What's up with that?
Well as it turns out, the movie was passed over for an Academy Award nomination for Best Visual Effects because the Academy felt TRON "cheated" by using a computer. (Seven years later, The Abyss (1989) would win for its computer visual effects.) To think, using a computer in 1982 was cheating when now it's the absolute "norm" in the industry.
I think they should go back and award TRON something for the sole reason that it was groundbreaking in the way it was made, and it revolutionized the movie business (very similar to all the movies that ripped off The Matrix and the whole "bullet-time gimmick).
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While I agree it's a shame the movie didn't get proper recognition for its ground-breaking FX (for the time), I seriously doubt anything will ever be done. If they did go and give it a retroactive award for effects, then they'd have to go and give pretty much every Disney movie from the 50s to the 70s a retroactive Academy award for animation, since that category didn't exist back then.
It's enough to know that the movie is still loved by many and has a cult following. The sheer amount of Tron-related merchandise that's come out in the past five or so years more than makes up for the complete lack of any merchandising back then. Now if Sideshow Collectibles or Hot Toys could only release 12-inch figures of Tron, Sark, Flynn AND Ram (he always seems to get ignored), I'd have a pretty nasty nerdgasm...