More than six months after the Arbitrum DAO approved the use of approximately $190 million worth of 225 million ARB to develop the gaming ecosystem of the network, the 'Game Catalyst Program (GCP)' is ready to start investing and providing grants to gaming projects.
According to the first transparency report recently released under the plan, GCP contributors not only created an initial entity structure to support investment authorization but also formed the corresponding structure to implement the staffing and compensation framework for GCP. The names of the legal entities formed by GCP contributors have not yet been disclosed.
The program has already spent nearly $1.2 million, of which 93.5% is used for legal fees for establishing various entities and general management expenses, including team member salaries.
In the first quarter of 2025, the program's contributors will begin funding gaming projects and continue to expand the team to enhance operational capabilities. The report states that while the heads of GCP have not made any investments or grants yet, the goal is to fund 100 projects within three years.
"As of December 29, 2024, we have 64 projects in preparation, and game developers are very active, as can be seen through our new website and submission forms," wrote Dan Peng, a member of the program's operational team, earlier on Arbitrum's governance forum.
Arbitrum Portal data shows that Arbitrum currently has 60 games in its ecosystem, including third-person shooters and baseball strategy games. (Unchained)