arbitrum DAO Approves $215 Million Funding to Strengthen Gaming Ecosystem
Arbitrum Foundation, the team behind it Arbitration (ARB), an Ethereum Layer 2 scaling solution that aims to increase transaction efficiency, has decided to devote a large amount of resources to developing the gaming industry within its ecosystem. The approved proposal is derived from the Gaming Catalyst Program (GCP), which will distribute 225 million ARB tokens, equivalent to $215 million, over three years. This change will help increase coverage and interest in the video games industry by targeting developers and potential players.
Arbitrum Commited $215 Million to Improve the Gaming Industry
Launched in March, the community has warmly welcomed the initiative, with 75% of voters approving it. Prominent supporters were: L2Beat, Wintermute and the gaming-focused Treasure DAO. Competitors like Blockworks Research and camelot DAO They were against the movement. Treasure DAO later posted on social media platform X, ‘Arbitrum is the home of gaming; reacted positively to the endorsement of ‘let’s create some magic‘. This sentiment shows that the community is eager to grow the gaming category on Arbitrum.
The fund mainly targets game publishing and development companies. New and emerging game developers can also receive ARBs of up to $500,000, which is approximately $483,000. Larger developers may seek investments that involve value sharing through tokens, equity, or similar methods. These strategic investments aim to support the development and growth of new games in the rapidly growing Arbitrum gaming industry.
ARB Token Price Dropped Despite New Program
A team of staff will be available to run the GCP on a daily basis. But a council of five people with experience in gaming, venture capital, data analysis and DAO governance will oversee the program. This governance structure enables the management of finances to achieve the goals and objectives set by the DAO, while also introducing new innovative ways of doing things and being accountable. The council also has veto power over investment decisions and team appointments to ensure the smooth running of the program and its compliance with the rules.
GCP set a budget limit of $25 million to control its operational costs. The DAO must approve expenditures above this amount; This underlines the program’s strict financial policy. Such a logic for structuring governance and budget management is vital to the success and longevity of the program.
Despite positive developments ARB price There was a downward trend in the market. It is currently trading at $0.9638, down 1.40%. Trading volume also decreased by 32.17%, indicating that the downward trend may continue. However, strategic investments made through GCP are expected to drive long-term growth, attract new players and developers, potentially stabilizing and increasing the token’s market performance.
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Maxwell is a crypto-economic analyst and Blockchain enthusiast who is passionate about helping people understand the potential of decentralized technology. I write extensively on topics like blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its effects on economic freedom and social well-being.
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