📣 Arbitrum (ARB) Foundation Allocates $215 Million to Boost Gaming Ecosystem
The Arbitrum Foundation, which supports the Ethereum-based Layer 2 network Arbitrum, has announced a significant investment aimed at fostering the gaming industry within its ecosystem. Over the next three years, the foundation will allocate 225 million Arbitrum (ARB) tokens, valued at about $215 million, to the newly created Gaming Catalyst Program (GCP).
According to a report by Amaka Nwaokocha for Cointlegraph published earlier today, this initiative, which received approval on 7 June, seeks to enhance the adoption and use of Arbitrum, Orbit, and Stylus among game developers and gamers. The proposal, originally introduced in March, garnered strong support from notable organizations such as L2Beat, Wintermute, and Treasure DAO, despite opposition from entities like Blockworks Research and Camelot DAO.
Treasure DAO, celebrating the initiative’s passage, highlighted Arbitrum’s potential as a key player in the gaming sector. The GCP aims to support both emerging and established game developers. Grants up to 500,000 ARB (approximately $483,000) will be available to new and early-stage developers, while more seasoned developers can seek investments involving value-sharing components like tokens or equity. Funds will also be allocated to infrastructure-related bounties and operational costs to support the broader ecosystem.
The GCP will be managed by a specialized team under the guidance of a five-member council with expertise in gaming, venture capital, data analysis, and DAO governance. This council will ensure that funds are used effectively and in alignment with the program’s goals. They also hold veto power over investment decisions and team appointments, maintaining accountability.
Additionally, the GCP has set a cap of $25 million for operational expenses, with any expenditures beyond this limit requiring DAO approval. The Arbitrum DAO decided in March against funding the legal defense of Tornado Cash developers Roman Storm and Alexey Pertsev.
