By crypto.news
The Arbitrum (ARB) blockchain platform launched an initiative to advance the Web3 gaming industry.
Within three years, the company plans to distribute 225 million ARB tokens to game developers, valued at approximately $215 million, through its new Gaming Catalyst Program.
Arbitrum fostering blockchain gaming
According to the Arbitrum, the global gaming market is projected to reach $190 billion by 2025, but the industry still faces significant challenges, including high development costs, limited scalability, and security concerns.
Arbitrum’s Gaming Catalyst Program aims to tackle these issues by offering a comprehensive suite of tools and resources to game developers.
The Arbitrum program will set aside 225 million ARB tokens over the next three years to attract top game developers to the Arbitrum platform, drive innovation, and enhance the player experience. Developers will gain access to Arbitrum’s scalable, secure, and interoperable platform, along with mentorship and support from the project.
The initiative was first proposed on March 12 and received support from the Arbitrum decentralized autonomous organization (DAO), with over 75% voting in favor when it passed on June 7th.
The team says the program aims to attract 200 to 300 developer applications, ensure over 20% of Web3 games use Arbitrum, launch 25 new Orbits, and achieve the highest net migrations among layer-2 networks.
Substantial grants of up to 500,000 ARB (approximately $483,000) will be available for new and early-stage game developers. More established studios can apply for larger investments, which may include value-sharing components such as tokens or equity.
In addition to funding developers directly, the remaining funds will be allocated towards infrastructure, bounties, and operational expenses to nurture the overall gaming ecosystem on Arbitrum.
Arbitrum’s strategic initiatives
The Arbitrum Foundation has been actively supporting various projects and initiatives. It has funded a crypto-related film produced by an Oscar-winning filmmaker and partnered with Transient Labs to enhance the digital art experience on Arbitrum. Additionally, the foundation has launched Orbit, a fully permissionless chain that offers dedicated throughput and improved gas fee reliability.
Aimed at significantly reducing fees and enhancing the overall user experience, Arbitrum introduced the Atlas upgrade on March 18, the upgrade focuses on optimizing transaction speeds and fees, making it more efficient and cost-effective for users.
Furthermore, the Arbitrum Foundation has also announced the launch of its Phase 3 Grants Program, marking a significant milestone in its mission to foster and expand the decentralized application (dApp) ecosystem.
This latest phase introduces grant tracks, a standardized approach to awarding grants aimed at enhancing transparency and fairness in the allocation process.
It also categorizes projects into distinct grant tracks based on their stage, growth potential, and type. Each track specifies objectives and an allocated amount, ensuring that projects receive tailored attention and resources suited to their current status and future goals.
Blockchain gaming fostering crypto adoption
Many blockchain networks, including the Open Network (TON), Solana (SOL), and others, have made strides in Web3/blockchain-based games.
Telegram’s TON and Solana emerged as key players in this space.
TON has seen a proliferation of gaming projects, with several viral crypto games gaining popularity. TapSwap, a game where players earn TAP coins by tapping on digital icons, has become a viral sensation. The platform’s focus on community engagement, with features like referral programs and interactive elements, has contributed to its success.
Another notable project on Telegram’s Ton is StepN, a move-to-earn game that rewards players with tokens for exercising using the platform’s NFT sneakers. The game has Onboarded over 2,500 registered users and has a growing Telegram community.
Solana, a high-performance layer one blockchain, has also seen a surge in gaming projects.
Star Atlas, a metaverse project, allows users to explore and engage in various activities within a virtual world. The project has a strong focus on community engagement.
StepN is available on both Telegram’s Ton and Solana. The game’s success has been attributed to its unique concept of rewarding players with tokens for exercising using NFT sneakers.
