Arbitrum DAO approves 215 million USD fund to boost gaming ecosystem.
Arbitrum launches $215 million fund to accelerate online gaming to increase engagement and growth.
Arbitrum Foundation, the team behind Arbitrum (ARB) has decided to allocate a large amount of money to develop the gaming industry in the ecosystem.
The approved proposal stems from the Gaming Catalyst Program (GCP), which will distribute 225 million ARB tokens, equivalent to $215 million, over three years.
This will help increase coverage and interest in the video game industry, targeting potential developers and players.
Proposed in March, the community warmly welcomed the initiative, with 75% in agreement. Treasure DAO reacted positively to the approval: 'Arbitrum is the home of gaming – let's make some magic happen.'
This fund is mainly aimed at game publishing and development companies. Emerging game developers can also receive up to 500,000 ARB, or about $483,000.
GCP has set a budget cap of $25 million to control its operating costs. The DAO must approve any expenditure exceeding this amount, which underscores the program's strict financial policy.
