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Cryptocurrency market continues to see noteworthy developments. Accordingly, Ethereum Layer-2 network Arbitrum aims to strengthen its Web3 game development arm. A post published on the official forum on March 12 announced the launch of the Gaming Catalyst Program (GCP), a project that requests 200 million ARB tokens to increase developer participation and improve game development processes.
Arbitrum Team Takes a Significant Step
At the time of writing, 200 million ARB is worth approximately 426 million dollars. According to the forum post, the funds will be partly used to invest in promising studios and games to be developed on the platform. The announcement states that the goal of the GCP is to develop a long-term gaming ecosystem on the Arbitrum network:
“We request the DAO to allocate 200 million ARB over a two-year period to strengthen the gaming ecosystem on Arbitrum and make the network the best option for game developers worldwide. The GCP is not intended to be a comprehensive program but rather to act as a catalyst, focusing on recruiting and supporting high-quality founders. Following the launch of the GCP, it is aimed to transform into a more comprehensive approach to the growth of the gaming ecosystem and a longer-term gaming program.”
The project also shared key performance indicators and forecasts, which include establishing Arbitrum as the de facto leader in gaming on the ecosystem. Other targets include receiving 200 to 300 applications from builders, having over 20% of all Web3 games choose Arbitrum as their primary network, launching 25 new Orbit initiatives, and achieving more network transitions to Arbitrum compared to other Layer-2 networks.
What Are the Details of the Initiative?
The proposal also states that, if approved, 40 million ARB will be allocated for infrastructure rewards. These will be paid per proposal for any tools and infrastructure needed to support gaming in the Arbitrum ecosystem.
The timing of the GCP launch and proposal comes just three days before the planned unlocking of ARB tokens. According to recent news, Arbitrum will unlock approximately 673.5 million tokens worth about 1.34 billion dollars for the team and advisors as part of the token unlocking event on March 16, which involves about 1.1 billion tokens.
