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The Arbitrum Foundation has introduced a proposal for a $400 million Gaming Catalyst Fund, aimed at the growth and improvement of its blockchain gaming sector.
In a comprehensive proposal shared on the community forum, the Arbitrum Foundation detailed its vision for the fund. This initiative, intended to enhance Arbitrum’s gaming environment, is currently seeking approval from the Decentralized Autonomous Organization (DAO) to be implemented over a two-year period.
Arbitrum’s Proposed Gaming Fund
Arbitrum’s activities in decentralized finance contrast with its developing role in gaming, lagging behind rivals in terms of games and user engagement. The Gaming Catalyst Program (GCP) is anticipated to effectively draw in developers and retain talent.
“The GCP aims to offer support and resources to game developers keen on creating on the Arbitrum network,” the proposal states. “This encompasses access to funding, mentorship, and various forms of assistance to accelerate the development process.”
The program is designed to utilize the platform’s resources to assist seasoned professionals and promising gaming projects. This strategy would promote the creation of high-quality games within the ecosystem.
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To engage in the program, developers must receive approval and be included in the whitelist by a community council. The sanctioned projects will be “subject to a comprehensive set of checks and balances.”
The proposed $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 specified that objectives for the initiative include receiving 200-300 applications from game developers interested in building on the network.
Success metrics involve achieving a 20% share of all new web3 games on Arbitrum, leading net migrations from other Layer 2 platforms, and enabling the launch of over 25 Orbit projects.
The proposal was authored 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 consensus and feedback, with the tally vote and ratification planned for April 2024. The community will then move forward with council member elections, venture team formation, and the rollout of grant applications until May.
The post Arbitrum Seeks DAO Approval for $400 Million Gaming Ecosystem Fund appeared first on Cryptonews.
