Arbitrum DAO Agrees To Distribute $216 Million In Funding

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Arbitrum Foundation, A Decentralized Autonomous Organization (DAO) Arbitrum, the company responsible for developing and nurturing the Arbitrum ecosystem, has agreed to start a support fund aimed at developing projects in its gaming ecosystem. The organization has revealed plans to distribute a whopping $216 million to improve the gaming ecosystem.

Arbitrum will allocate $216 million to the gaming proposal

Arbitration institution It officially backed a proposal that includes a funding initiative to expand and develop the gaming ecosystem. According to her Blog postthe DAO decision It will allocate 225 million ARB tokens worth approximately $216 million to support the growth of gaming projects on the network.

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This proposal was subject to A Formal voting process between Community Members. Among the total voters in the institution, 162.41 million voted in favor of the gaming proposal, while 50.48 million opposed it. In addition, approximately 44,093 members abstained from voting.

As a result of the overwhelming approval, the Gaming Catalyst Program (GCP) will receive financial support from the Arbitrum Foundation over three years. The program is designed to facilitate and expand awareness and adoption of Arbitrum/Orbit/Stylus by developers and players within the gaming community.

Furthermore, Arbitrum has its sights set on $250 billion Vertical games that Expected to double by 2030, reaching a large market worth $500 billion. The organization is positioning itself to benefit from the growth of the market as well as the prevailing trend of integration Blockchain technology with games.

In its blog post, the organization revealed plans to hire top-notch developers to build high-quality, engaging games that will capture users' attention and effectively keep them inside. Decision ecosystem. It revealed that it has emerged as a leader in the competitive gaming market by incorporating a dynamic strategy that combines innovation, strong technological capabilities, organic builders, and short and long-term incentives.

Moreover, the rapid expansion of Decentralized finance (DeFi) applications. Arbitrum highlights the platform's ability to attract new developers and users. The organization has described this growth as a “snowball effect,” emphasizing that when there is an increasing number of creators and users, Arbitrum DAO continues to add value.

The goal of the Gaming Catalyst program

While acknowledging its shortcomings and acknowledging its failure to match the performance of competitors such as Immutable X, Ronin, Solana, Arbitrum also praised its tremendous success in the DeFi sector. The organization revealed that through the Gaming Catalyst programme, it will facilitate the growth of its ecosystem by creating a dedicated team and funds to provide technical and strategic support to Games industry.

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The Foundation has identified a list of virtual projects in the program that will help develop the Arbitrum gaming ecosystem. According to the organization, the Gaming Catalyst program will provide support and resources to developers interested in building on the network. This will include guidance, financing and other assistance to accelerate the development process.

Furthermore, Arbitrum DAO will allocate all resources strategically to maximize effective usage and impact on the gaming ecosystem. The organization also aims to position itself as an attractive platform that attracts and retains the best game developers in the industry.

Additionally, Gaming Catalyst will play a key role in expanding new opportunities and use cases for Network resolution. By supporting the development of gaming infrastructure, Arbitrage (ARB) It will be able to diversify its ecosystem and expand services to a wide range of users and developers, not limited to adopting the Orbit and Stylus series.

ARB price drops below $1 | source: Arposdt on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

The post Arbitrum DAO Agrees To Distribute $216 Million In Funding first appeared on Investorempires.com.

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