Arbitrum, a layer-2 blockchain network, is making efforts to strengthen its Web3 gaming development division. In a post on the official forum on March 12, the launch of the Gaming Catalyst Program (GCP) was announced. The project aims to onboard developers and foster gaming development by requesting 200 million ARB tokens.
As of the time of writing, the value of 200 million ARB is approximately $426 million. The funds will be used partially for investing in promising studios and games to be developed on the platform, as mentioned in the forum post.
The GCP has outlined its main objectives and estimates. These include establishing Arbitrum as the leading platform for on-chain gaming, receiving 200 to 300 applications from builders, having a minimum of 20% of all Web3 games choose Arbitrum as their base network, launching 25 new Orbits, and attracting more net migrations to Arbitrum compared to other layer-2 networks.
If approved, the proposal also states that 40 million ARB will be allocated for infrastructure bounties. These bounties will be paid on a per proposal basis to support gaming within Arbitrum by providing necessary tools and infrastructure.
The launch of the GCP and proposal coincides with the scheduled ARB token unlock just three days later. As reported by Cointelegraph, Arbitrum will unlock 673.5 million tokens (worth approximately $1.34 billion) for its team and advisors on March 16, as part of a “cliff unlock” of about 1.1 billion tokens.
Related:
CCP has unveiled details about the game world and playtest dates for a new blockchain game set in the Eve universe.