Arbitrum Seeks DAO Approval for $400 Million Gaming Ecosystem Fund
The Arbitrum Foundation has put forth a proposal to establish a Gaming Catalyst Fund worth $400 million, with the goal of expanding and improving its blockchain gaming sector.
In a comprehensive proposal published on the community forum, the Arbitrum Foundation outlined its vision for the fund. The objective is to enhance the gaming landscape of Arbitrum, and the proposal is currently awaiting endorsement from the Decentralized Autonomous Organization (DAO) in order to be implemented over a two-year period.
Arbitrum’s Proposed Gaming Fund
Arbitrum has made significant strides in decentralized finance, but it lags behind its competitors in the gaming sector in terms of games and player engagement. The Gaming Catalyst Program (GCP) aims to attract developers and retain talent effectively.
“The GCP aims to provide support and resources to game developers interested in building on the Arbitrum network,” states the proposal. “This includes access to funding, mentorship, and other forms of assistance to expedite the development process.”
The program will leverage the platform’s resources to support experienced professionals and promising gaming projects, thereby encouraging the creation of high-quality games within the ecosystem.
To participate in the program, developers must be approved and included in the whitelist by a community council. The approved projects will be subjected to a rigorous evaluation process.
The requested $400 million fund, or 200 million ARB, will be allocated for builder onboarding and growth (160 million ARB) and infrastructure bounties (40 million ARB).
Goals, KPIs, and Scheduled Votes
The proposal also outlines the goals of the initiative, which include receiving 200-300 applications from game developers interested in building on the network.
Success measures include achieving a 20% market share of all new web3 games on Arbitrum, leading in net migrations from other Layer 2 platforms, and facilitating the launch of over 25 Orbit projects.
The proposal was jointly drafted by Daniel “Djinn” Peng, co-founder of Vela Exchange, and Karel Vuong, co-founder of Treasure.
The initiative will undergo a snapshot vote on March 15 for general delegate agreement and feedback, with the tally vote and ratification scheduled for April 2024. Following that, the community will proceed with council member elections, venture team formation, and the acceptance of grant applications until May.
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