Bitcoin

Arbitrum Foundation Reserving $225 Million for Gaming Development

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Arbitrum Foundation, the body behind the Arbitrum network, an Ethereum layer-2 rollup, has decided to dedicate 215 ARB tokens, or $225 million, for gaming innovation on the network. Arbitrum’s optimistic rollup ecosystem is taking Ethereum’s scalability to new heights, allowing developers to launch highly efficient dApps.

Gaming applications are one of those, witnessing tremendous deployments and usage on the layer 2. The move to foster innovation monetarily will solidify Arbitrum’s place as the home for FOCGs (Fully On Chain Games), and the newly instituted Gaming Catalyst Program (GCP) will lead the initiative.

The allocation of the resources toward gaming development, to be utilized over two years, was introduced through a proposal in March, witnessing onchain approval this past week. The Arbitrum Foundation’s DAO was highly favorable to this proposal, which saw 75% of the decision-makers vote in its support.

Established gaming developers can take advantage of this and apply to the GCP to receive investments. Of course, they will need to work out agreements with the GCP for receiving these investments, such as getting into revenue share deals, offering equity, or dedicating project tokens. Newer developers have it more interesting – each project can apply for up to 500,000 ARBs in grants, amounting to $4,87,000 at the time of writing.

These funds will help developers deploy their gaming projects within Arbitrum’s ecosystem to capitalize on its highly scalable, modular, and interoperable blockchain builds. They can fashion game-specific rollup networks to allow their projects to operate at maximum speeds. Thus, this move can take blockchain gaming to new heights in the coming years as developers and end users hop into the full-scale FOCG future.

Nevertheless, the participants of Arbitrum DAO who voted negatively for this proposal are unhappy. Michigan Blockchain, a student-led entity based out of the University of Michigan, voted no because the Arbitrum Foundation changed the amount to be dedicated from 200 million tokens to 225 million. This occurred before the voting, and Michigan Blockchain, initially in favor of the proposal, decided to vote against it due to the sudden change.

Image by Olya Adamovich from Pixabay


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