Key Takeaways
- The three-year Gaming Catalyst Program will distribute 225 million Arbitrum (ARB) tokens
- L2Beat, Wintermute, Treasure DAO supported the proposal while Blockworks Research and Camelot DAO opposed it.
Decentralized autonomous organization (DAO), Arbitrum Foundation, has announced a massive investment in the gaming industry. The initiative, dubbed the Gaming Catalyst Program (GCP), boasts a $215 million war chest aimed at attracting game developers and players to its ecosystem.
This three-year program will distribute 225 million Arbitrum (ARB) tokens, the native crypto of the Arbitrum network. This hefty allocation makes GCP one of the largest gaming investment funds in the crypto space.
The program offers a multi-pronged approach to cultivate the gaming space on Arbitrum. Under this initiative, new and early-stage developers can compete for grants of up to 500,000 ARB (roughly $483,000 at current prices). Additionally, established publishers can also secure larger investments, potentially including token or equity stakes in their projects.
The remaining funds will be used for infrastructure bounties and operational expenses to support the program’s long-term goals. As per the official announcement, the Gaming Catalyst Program has also capped its operational expenses at $25 million. Any expenditure crossing $25 Million will require explicit approval from the DAO.
A dedicated team will manage the day-to-day operations of the GCP, while a separate council comprised of five gaming and crypto experts will deal with providing strategic direction. According to the press release, the council holds veto power over key decisions, ensuring responsible use of allocated funds.
The proposal for the GCP received overwhelming support from the Arbitrum DAO community, passing with a 75% majority vote in June 2024. Notably, prominent firms like L2Beat, Wintermute, Treasure DAO supported the proposal while Blockworks Research and Camelot DAO opposed it.
