Arbitrum to Allocate $215 Million in ARB Tokens for Advancements in Gaming Industry

The Arbitrum Foundation, which oversees the Ethereum layer-2 scaling solution Arbitrum, has dedicated significant efforts towards nurturing the gaming sector within its network.

They have announced the allocation of 225 million Arbitrum (ARB) tokens, with an estimated value of $215 million, to be distributed over a span of three years. This funding is part of the Gaming Catalyst Program (GCP), a new initiative aimed at boosting the visibility and adoption of Arbitrum, along with its Orbit and Stylus technologies, among game developers and the gaming community. The goal is to stimulate growth and increase engagement among gamers.

The proposal was initially put forward in March and received approval on June 7, with an overwhelming 75% of the vote in support. The original proposal had requested the Arbitrum decentralized autonomous organization (DAO) to sanction the allocation of 200 million ARB tokens over two years to promote game development on the platform.

Prominent backers of the proposal included L2Beat, Wintermute, and Treasure DAO, an entity with a strong focus on gaming. Conversely, Blockworks Research and Camelot DAO were among the detractors.

Following the approval, Treasure DAO celebrated the decision on X, stating, “Arbitrum is the home of gaming — let’s make some magic happen,” expressing their enthusiasm for the initiative and the potential it holds for the gaming community on Arbitrum.