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Sunday, June 2, 2024
HomeCryptoProposal to create Arbitrum Gaming fund worth 225 million ARB attracts attention?

Proposal to create Arbitrum Gaming fund worth 225 million ARB attracts attention?

Accordingly, the Arbitrum Community proposed a fund to support the development of gaming projects on the ecosystem worth 225 million ARB in March. In the proposal, the program (Gaming Catalyst Program – GCP) aims to promote the development of Web3 games on the Arbitrum ecosystem.

Compared to the explosion of the DeFi segment on Arbitrum, it is suggested that GameFi also has similar growth potential and Arbitrum needs to quickly participate. The XGCP program aims to:

  • Promote the number of game developers using Arbitrum/Orbit/Stylus technology.
  • Allocating resources through grant and investment programs.
  • Attract and retain talent.
  • Expand the uses of Arbitrum.
  • Support the development of high-quality games with a long-term vision.

The amount of money for the game fund is 225 million ARB over 3 years, equivalent to more than 250 million USD. Specifically, the fund is allocated as follows:

  • Attract developers: 160 million ARB
  • Grants: 25 million ARB.
  • Invest: 135 million ARB.
  • Bounty and rewards: 40 million ARB.
  • Operating costs: 25 million ARB.

The proposed vote took place from May 24 to June 8 with a ratio of 81.5% for votes, 18.5% for votes against. If nothing changes too much, this proposal will be adopted.

However, the voting process was met with many mixed opinions and criticism when users pointed out that the operating budget was change from 10 million USD in preliminary proposal increased to 25 million USD when voting opens. Furthermore, according to the community, spending up to 25 million USD on operating costs for 3 years is too large and too unreasonable.

Responding to criticism, core contributor Dan Peng (@Djinn) explained that the amount increased from $10 million to $25 million because it was needed to cover operating costs for three years.

However, there are still many opinions that a total of 225 million ARB (250 million USD) is too high for game development.

Current Web3 games are considered unworthy of this large amount of money, while traditional games struggle with small budgets, and Web3 games are just “click-to-earn” bland and boring. .

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.


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