The proposal has been approved to allocate 225 million ARB tokens over three years, starting in March and officially approved on June 7 with over 75% of the vote. The development team of Arbitrum, a layer-2 network based on Ethereum, known as the Arbitrum Foundation, is dedicating a significant portion of its resources to support the growth of the gaming industry within its ecosystem.
This initiative will distribute 225 million Arbitrum (ARB) tokens, valued at approximately $215 million, through the Gaming Catalyst Program (GCP) over the next three years. The primary objective of the program is to stimulate growth and engagement within the gaming community by increasing the utilization of Arbitrum, Orbit, and Stylus among gamers.
The proposal initially aimed to set aside 200 million ARB tokens over two years for game creation on the blockchain, pending approval from the Arbitrum DAO. Notable supporters of the plan included Treasure DAO, L2Beat, and Wintermute, while Blockworks Research and Camelot DAO expressed opposition. Despite some resistance, the proposal was ultimately accepted, with Treasure DAO expressing excitement for the initiative on social media platform X, stating, “Arbitrum is the epicenter of gaming – let’s create some magic together.”
A significant portion of the budget will be allocated to publishers, while startups and early-stage developers can apply for grants of up to half a million ARB tokens, equivalent to around $483,000 at current market rates. Experienced developers may also seek investments with value-sharing components, such as shares or tokens. The remaining funds will be used for operational expenses and infrastructure-related rewards to support the growth of the ecosystem.
In other news, amidst market volatility, over 22,000 Bitcoins have been withdrawn from crypto exchanges recently.