The Arbitrum Foundation has put forward a comprehensive proposal for a Gaming Catalyst Fund worth $400 million, aimed at fostering growth and innovation within the blockchain gaming sector.
Outlined in a detailed document on the community forum, the fund’s purpose is to bolster and enrich Arbitrum’s gaming ecosystem. The initiative is currently awaiting approval from the Decentralized Autonomous Organization (DAO) and is slated to be implemented over a two-year period.
While Arbitrum has made significant strides in decentralized finance, its presence in the gaming sector is still developing compared to competitors. The Gaming Catalyst Program (GCP) is envisioned as a strategy to attract developers and nurture talent effectively.
“The GCP aims to provide support and resources to game developers interested in building on the Arbitrum network. This includes access to funding, mentorship, and other forms of assistance to expedite the development process,” states the proposal.
The program intends to leverage Arbitrum’s resources to back experienced professionals and promising gaming projects, fostering the creation of high-quality games within the ecosystem.
Participation in the program will require developers to undergo approval and inclusion in a whitelist by a community council. Approved projects will be subject to thorough scrutiny and evaluation.
The proposed $400 million fund, equivalent to 200 million ARB tokens, will be allocated for builder onboarding and growth (160 million ARB) and infrastructure bounties (40 million ARB).
Additionally, the proposal outlines ambitious goals for the initiative, including attracting 200-300 applications from game developers, capturing a 20% share of all new web3 games on Arbitrum, leading in net migrations from other Layer 2 platforms, and facilitating the launch of over 25 Orbit projects.
The proposal was jointly authored by Daniel “Djinn” Peng, co-founder of Vela Exchange, and Karel Vuong, co-founder of Treasure.
A Snapshot vote for general delegate agreement and feedback has already begun, with the tally vote and ratification set for April 2024. Subsequently, the community will proceed with council member elections, venture team formation, and the rollout of grant applications until May.
