The Arbitrum Foundation, a Decentralized Autonomous Organization (DAO) tasked with developing and nurturing the Arbitrum ecosystem, has approved the start of a support fund aimed at developing projects in its gaming ecosystem. The organization has revealed plans to distribute a staggering $216 million to improve its gaming ecosystem.
Arbitrum will allocate US$216 million for game proposal
The Arbitrum Foundation has officially endorsed a proposal, involving a funding initiative to expand and develop its gaming ecosystem. According to your blog postO DAO Arbitration will work to allocate 225 million ARB tokens, valued at approximately $216 million, to support the growth of gaming projects on the network.
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This proposal went through a formal voting process between others community members. Of the foundation’s total voters, a staggering 162.41 million voted in favor of the gambling proposal, while 50.48 million opposed it. Furthermore, around 44,093 members abstained from voting.
As a result of the overwhelming approval, the Gaming Catalyst Program (GCP) will receive financial support from the Arbitrum Foundation over three years. The program is designed to facilitate and expand the knowledge and adoption of Arbitrum/Orbit/Stylus by builders and players in the gaming community.
Additionally, the Arbitrum Foundation is eyeing the $250 billion gaming vertical what it is designed double by 2030, reaching a substantial $500 billion market. The organization is positioning itself to capitalize on market growth as well as the prevailing trend toward integration blockchain technology with games.
In its blog post, the organization revealed plans to recruit top-tier developers to create high-quality, engaging games that will effectively attract and retain users’ attention within the Arbitration ecosystem. It revealed that it has emerged as a leader in the competitive gaming market by incorporating a dynamic strategy that combines innovation, strong technological capabilities, organic builders, and short- and long-term incentives.
Furthermore, the rapid expansion Decentralized finance (DeFi) applications on Arbitrum highlights the platform’s ability to attract new developers and users. The foundation labeled this growth as a “snowball effect,” emphasizing that when there are a growing number of builders and users, the Arbitrum DAO continues to add value.
The purpose of the Gaming Catalyst program
While recognizing its shortcomings and recognizing its inability to match the performance of competitors such as Immutable, Ronin, and Solana, the Arbitrum Foundation also praised its immense success in the decentralized finance sector. The organization disclosed that through the Gaming Catalyst Program it will facilitate the growth of its ecosystem by establishing a dedicated team and funds to provide technical and strategic support to the gaming industry.
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The foundation outlined a list of hypothetical projects in the program that will help develop Arbitrum’s gaming ecosystem. According to the organization, the Gaming Catalyst Program will provide support and resources for developers interested in building on the network. This will include guidance, financing and other assistance to accelerate development.
Additionally, Arbitrum DAO will allocate all resources strategically to maximize efficient usage and impact on the gaming ecosystem. The organization also aims to position itself as an attractive platform that will attract and retain the best game developers in the industry.
Additionally, the Gaming Catalyst Program will play an important role in expanding new opportunities and use cases for the Arbitration Network. By supporting the development of gaming infrastructure, Arbitration (ARB) will be able to diversify its ecosystem and extend services to a wider range of users and developers, not limited to the Orbit chain and Stylus adoption.
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