The Arbitrum Foundation has introduced a plan for a $400 million Gaming Catalyst Fund, aimed at bolstering the growth and improvement of its blockchain gaming industry.
Outlined in a comprehensive proposal on the community forum, the Arbitrum Foundation shared its vision for the fund. This initiative, crafted to elevate Arbitrum’s gaming ecosystem, is presently awaiting approval from the Decentralized Autonomous Organization (DAO) for implementation over a two-year period.
Arbitrum’s Proposed Gaming Fund
Arbitrum’s strides in decentralized finance stand in stark contrast to its burgeoning involvement in gaming, where it lags behind competitors in both game offerings and player engagement. The Gaming Catalyst Program (GCP) is anticipated to be a potent tool in attracting developers and retaining talent.
“The GCP aims to extend support and resources to game developers keen on utilizing the Arbitrum network,” the proposal outlines. “This entails access to funding, mentorship, and other forms of assistance to expedite the development process.”
The program intends to leverage the platform’s resources to bolster seasoned professionals and promising gaming ventures, fostering the creation of high-quality games within the ecosystem.
Participation in the program necessitates approval and inclusion in the whitelist by a community council. Approved projects will undergo a rigorous vetting process to ensure adherence to established standards.
The proposed $400 million fund, equivalent to 200 million ARB, will be allocated for builder onboarding and growth (160 million ARB) and infrastructure bounties (40 million ARB).
Goals, KPIs, and Scheduled Votes
The proposal also outlined specific goals for the initiative, including attracting 200-300 applications from game developers interested in building on the network.
Key success metrics include achieving a 20% share of all new web3 games on Arbitrum, leading net migrations from other Layer 2 platforms, and facilitating the launch of over 25 Orbit projects.
Drafted by Daniel “Djinn” Peng, co-founder of Vela Exchange, and Karel Vuong, co-founder of Treasure, the initiative is set for a snapshot vote on March 15 to gauge general delegate agreement and feedback, with the tally vote and ratification scheduled for April 2024. Following this, the community will proceed with council member elections, venture team formation, and the rollout of grant applications until May.
