Arbitrum DAO Approves $215M ARB Allocation to Boost Gaming Projects

  • The governance DAO of Arbitrum has sanctioned Arbitrum Foundation’s proposal to allocate 225 million ARB, valued presently at approximately $215 million, to support gaming projects on the network.
  • Ethereum-based layer-2 network Arbitrum’s DAO will fulfill its intention to distribute hundreds of millions of dollars over the next three years to support gaming projects within the ecosystem.
  • The proposal will allocate roughly $215 million worth of ARB at current prices over three years to the Gaming Catalyst Program (GCP), aimed at expanding awareness and adoption of Arbitrum, Orbit, and Stylus.

Arbitrum DAO Approves $215 Million Allocation to Gaming Projects – A New Era for Blockchain Gaming

Arbitrum’s Strategic Move Delights Gaming Enthusiasts

Initially unveiled in March, the proposal was formally approved on Friday with over 75% of the vote in favor. Key backers include L2Beat, Wintermute, and gaming-focused Treasure DAO, while dissenting votes came from Blockworks Research and Camelot DAO.

Strong Support and Enthusiasm from Key Stakeholders

Treasure DAO expressed their support on social media platform X, stating, “Arbitrum is the home of gaming; this includes all games, game chains, and all builders within its orbit. Let’s create some magic.” This sentiment underscores the rallying enthusiasm among the involved parties. The funds will be distributed primarily to developers and infrastructures related to the gaming sector. New and early-stage developers can apply for grants of up to 500,000 ARB (estimated at $483,000 at current prices), while more established developers are required to apply for value-sharing investments comprising tokens, equity, or similar mechanisms. The remainder will be allotted to infrastructure bonuses and operational expenses.

Governance and Operations Under the Gaming Catalyst Program

The day-to-day operations of the fund will be managed by a dedicated GCP team, overseen by a council of five individuals selected for their extensive experience in gaming, venture investing, analysis/reporting, and DAO governance. The DAO retains the authority to veto investment decisions and team appointments. For operational expenses, the GCP team has a budget cap set at $25 million; any expenditure exceeding this cap requires DAO approval.

Conclusion

By allocating substantial financial resources to gaming projects, Arbitrum is not only reinforcing its position within the blockchain gaming landscape but also setting a precedent for how networks can foster growth and innovation. This move, backed by strong community support, will likely pave the way for new developments and advancements in blockchain-based gaming projects, offering an optimistic outlook for the ecosystem’s future.

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Jocelyn Blake
Jocelyn Blakehttps://en.coinotag.com/
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.
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