decision ARB
-3.09%
In a post, the Arbitrum Foundation outlined its plans for a “Gaming Catalyst Program.” The program proposes asking the Arbitrum DAO to approve an allocation of 200 million ARB (about $400 million at current prices) over two years to encourage game building on the blockchain.
“Arbitrum has emerged as a leader in the competitive network race with a dynamic innovation formula, powerful technology, organic builders and a variety of short-term and long-term incentives,” Arbitrum said in its post. “While this dynamic has not occurred in the web3 gaming space, we believe the same opportunity exists within Arbitrum to attract the best builders to create sticky, high-quality games that attract and retain new users.”
The Arbitrum Foundation is the organization that supports the Ethereum Layer 2 network Arbitrum.
Most of the funds go to game publishers.
The new proposal proposes allocating most of the funds (ARB 160 million) to encourage publishers and builders to create new games on Arbitrum. The remaining 40 million ARBs will support infrastructure initiatives, such as creating tools “necessary to support games within Arbitrum.”
“The Gaming Catalyst program has the overarching goal of attracting talented creators and helping creators accelerate their games through lifecycle stages,” the Arbitrum Foundation said in a post.
Popular blockchains for gaming projects so far include Polygon, Immutable, Avalanche, and Solana.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal and has covered companies including Disney, Netflix, and Warner Bros. and the creator economy, with a primary focus on technological innovation across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a wide range of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.