Arbitrum's Gaming Catalyst Program Aims to Boost Web3 Gaming Ecosystem
Summary:
Arbitrum, a Layer-2 blockchain network, is launching the Gaming Catalyst Program (GCP) aimed at enhancing its web3 gaming development. The GCP calls for 200 million ARB tokens to support gaming development and developer onboarding, with its long-term goal focused on establishing a robust gaming ecosystem on Arbitrum. If approved, part of the funding will be invested in promising game development studios, the remainder earmarked for infrastructural bounties. This news precedes a scheduled ARB token unlock involving 673.5 million tokens.
The Layer-2 blockchain network, Arbitrum, is bolstering its contribution to web3 gaming through the introduction of the Gaming Catalyst Program (GCP). As revealed in a March 12 forum post, the program calls for a requisition of 200 million ARB tokens to facilitate gaming development and bring more developers onboard. The overarching goal of the GCP is to nurture a long-lasting gaming ecosystem on the Arbitrum platform.
The program hopes to secure an allocation from the DAO of 200 million ARB over two years, with the aspiration of making Arbitrum the preferred network for gaming professionals industry-wide. The GCP’s primary role is to serve as an initial catalyst rather than a comprehensive entity, mainly focused on recruiting and sustaining top-tier builders. Eventually, the GCP aims to evolve into a broader gaming program that emphasizes comprehensive growth of the gaming ecosystem.
At the time this news was released, the requested 200 million ARB were valued roughly at $426 million. If granted, these funds would be partially invested in promising game development studios and games. The post also outlined key targets and predicted outcomes, with a notable goal of positioning Arbitrum as the top-tier choice for on-chain gaming.
Among the outlined objectives are processing 200-300 applications for builders, attracting 20% or more of all web3 games to the Arbitrum network, launching 25 new Orbits, and experiencing more net inbound migrations compared to other Layer-2 networks. The proposal also mentions the allocation of 40 million ARB for infrastructural bounty, which will be paid for each tooling and infrastructure proposal vital for Arbtrum's gaming sector.
The GCP’s launch comes ahead of a planned ARB token release. As reported by the Cointelegraph, 673.5 million tokens (around $1.34 billion in current prices) for the Arbitrum team and advisers will be made available as part of a “cliff unlock” process concerning 1.1 billion tokens, scheduled for March 16.
Published At
3/13/2024 10:05:00 PM
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