Arbitrum DAO Approves Massive Gaming Fund
Arbitrum DAO has approved a proposal to allocate 225M ARB (~$215M) over the next three years to supporting gaming projects.
What's the scoop?
- Proposal Details: The Gaming Catalyst Program (GCP), proposed by Vela Exchange co-founder Dan Peng, aims to expand awareness and adoption of Arbitrum, Orbit, and Stylus with builders and players in the gaming community.
- Voting Results: The proposal passed with over 75% of votes in support, including entities like L2Beat, Wintermute, and Treasure DAO. Other major organizations opposed it, though, like Blockworks Research and Camelot DAO.
- Fund Allocation: The funds will be used for grants and investments of up to 500K ARB (~$484K) for new and established developers, infrastructure-related bounties, and operational expenses. A maximum of $25M is earmarked for the GCP team to manage day-to-day operations.
Bankless Take:
For years, gaming has been heralded as one of the industries most ripe for Web3 disruption. Despite this, few, if any, crypto-based games have achieved traction. That hasn’t stopped massive amounts of capital from being funneled into the mission to realize this integration of blockchains, even while returns from the sector continue to lag significantly behind other areas like AI, RWAs, and Bitcoin Layer 2s. That being said, one game may be all a chain needs to succeed, which could keep fueling this golden goose hunt, especially given Arbitrum’s support for Xai Network, a gaming-focused L3 on Arbitrum, and TreasureDAO, a gaming ecosystem that recently announced it would build a L3 on the network.
