Orbit

Arbitrum

Layer-2 blockchain network Arbitrum is looking to shore up its Web3 gaming development arm. A March 12 post on the official forum announced the launch of the Gaming Catalyst Program (GCP), a project requesting 200 million ARB tokens for developer onboarding and gaming development.&nbsp;
According to the post, the goal of the GCP is to <a href="https://forum.arbitrum.foundation/t/catalyze-gaming-ecosystem-growth-on-arbitrum/22368" target="_blank" rel="noopener nofollow">develop</a> a long-term gaming ecosystem on the Arbitrum network:
<blockquote data-ct-non-breakable="true">
 “We are asking the DAO to earmark 200m ARB over a two year period to bolster the gaming ecosystem on Arbitrum and establish the network as the top choice for game builders across the landscape.&nbsp;The GCP is meant to serve as a catalyst, not a comprehensive program, with a focus around onboarding and supporting high quality builders.&nbsp;After the roll out of the GCP, the aim is to mature into a longer-term gaming program with a more comprehensive approach to game ecosystem growth.”
</blockquote>
As of the time of this article’s publication, 200 million ARB is worth approximately $426 million. The funds would be partially used for coinvesting in promising studios and games for development on the platform, according to the forum post. 
The project also shared its key productivity indicators and estimates, a list that includes establishing Arbitrum as “the de facto leader for on-chain gaming.” 
Other goals include taking 200 to 300 applications for builders, having 20% or more of all Web3 games select Arbitrum as their base network, 25 new Orbit launches, and more net migrations to Arbitrum versus other layer-2 networks. 
The proposal also says that, if approved, 40 million ARB would be allocated for infrastructure bounties. These would be paid out on a “per proposal basis for any tooling and infrastructure needed to support gaming within Arbitrum.”
The timing of the GCP launch and proposal comes just three days ahead of a scheduled ARB token unlock. As Cointelegraph recently reported, Arbitrum will unlock 673.5 million tokens (worth around $1.34 billion at current prices) for its team and advisers as part of <a href="https://cointelegraph.com/news/arbitrum-2-billion-vested-token-unlock">a March 16 “cliff unlock” of about 1.1 billion tokens</a>.
Related: <a href="https://cointelegraph.com/news/ccp-reveals-game-world-details-hackathon-web3-playtest-dates-blockchain-game-eve-universe">CCP reveals game world details and playtest dates for new blockchain game set in Eve universe</a>

Arbitrum launches Gaming Catalyst Program to spur Web3 gaming growth

Cointelegraph

Other articles published on Mar 13, 2024

Breaking: TikTok Might Face US Ban After House Passes Bill by 352-65 Votes

Tron Network Faces Security Speculations and Market Dynamics

Blast Mainnet Encounters Major Glitch and Initiates Swift Response

Lif3 partners with BitGo to Enhance Blockchain Security for Institutional DeFi Assets

Amazon Cracks Down on Deceptive AI-Generated Books Amid Author Backlash

BEFE Coin’s Meteoric Rise: What’s Behind Today’s Trending Sensation?

Join our free newsletter for daily crypto updates!