Arbitrum Allocates $215 Million in ARB to Boost Gaming Ecosystem
- The proposition allocates 225M ARB tokens to be dispersed over a period of three years.
- The plan was first presented in March and approved on June 7 with a vote of more than 75%.
The Ethereum rollup-based layer-2 network Arbitrums development team, the Arbitrum Foundation, has pledged a large portion of its resources to fostering the gaming industrys growth inside its ecosystem.
The proposition allocates 225 million Arbitrum (ARB) tokens, with a market value of around $215 million, to be dispersed over a period of three years via the recently formed Gaming Catalyst Program (GCP).
Boosting Gaming Ecosystem
The programs goal is to promote growth and involvement in the gaming community by quickly increasing the awareness and use of Arbitrum, Orbit, and Stylus within the gaming community.
The plan was first presented in March and finally approved on June 7 with a vote of more than 75% of the electorate in favor. To promote game creation on its blockchain, the program had planned to approach the Arbitrum DAO for approval to set aside 200 million ARB over two years.
Treasure DAO, a gaming-focused group, L2Beat, and Wintermute were notable proponents of the plan. Blockworks Research and Camelot DAO opposed, but the plan was ultimately approved. Moreover, Treasure DAO expressed their approval of the initiative in a joyful post on the social media site X, writing, Arbitrum is the home of gaming lets make some magic happen.
A significant chunk of the budget goes toward publishers, but startups and early-stage developers may apply for grants of up to half a million ARB, or about $483,000 at todays values.
Conversely, developers with greater experience might seek investments that include a value sharing component, such as shares, tokens, or similar arrangements. The remaining funds will be allocated to operating expenditures and infrastructure-related bounties, which will help the ecosystem expand and thrive.
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