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Supported by the Ethereum roll-based Layer 2 network Arbitrum, the Arbitrum Foundation will be able to fulfill its ambition to fund gaming initiatives on the network over the next three years with hundreds of millions of euros.
Arbitrum’s Gaming Catalyst Program
Designed to “immediately expand awareness and adoption of Arbitrum/Orbit/Stylus by builders and players in the gaming community,” the proposal will allocate 225 million ARB tokens worth roughly $215 million to a newly-created Gaming Catalyst Program (GCP).
Originally presented in March, the measure formally passed Friday with more than 75% of the voting in favor. While Blockworks Research and Camelot DAO are among those who voted against, organizations that greatly supported the plan include L2Beat, Wintermute, and gaming-oriented Treasure DAO.
“Arbitrum is the home of gaming; this covers all of the games, the gaming chains, and all of the builders around it. Let’s make some magic happen.” Treasure DAO on X responded to the passing of the proposal.
Funding Details and Governance
While more seasoned developers must apply for investments with a value-share component via tokens, equity, or similar means, much of the fund is set aside for publishers; new and early-stage developers have the chance to apply for grants worth a maximum of 500,000 ARB (about $483,000 at current rates). Operating expenses and bounties connected to infrastructure will get the remaining money.
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Though the program will be supervised by a council of “5 individuals with deep gaming, venture experience, analytics/reporting, and/or DAO governance skills,” elected by the DAO with the capacity to veto investment decisions and team member appointments, daily operations will be run by a dedicated GCP team. The GCP team has budgeted $25 million for operational expenses; any more spending needs DAO approval.
From its highest value of $1.10 on Friday to roughly $0.97 as of press time following the end of the voting process, Arbitrum’s token dropped about 12%.