🌎 Arbitrum to Distribute $215M in Tokens for Web3 Gaming Boost

Arbitrum (ARB) has launched an initiative to boost the Web3 gaming industry. Over the next three years, the platform plans to distribute 225 million ARB tokens, valued at approximately $215 million, through its new Gaming Catalyst Program.

Arbitrum’s Push in Blockchain Gaming

The global gaming market is expected to reach $190 billion by 2025. However, the industry still faces hurdles such as high development costs, limited scalability, and security concerns. Arbitrum’s Gaming Catalyst Program aims to address these challenges by providing developers with a comprehensive suite of tools and resources.

The program will allocate 225 million ARB tokens over the next three years to attract top game developers to the Arbitrum platform, drive innovation, and improve the player experience. Developers will gain access to Arbitrum’s scalable, secure, and interoperable platform, along with mentorship and support from the project.

First proposed on March 12, the initiative received support from the Arbitrum decentralized autonomous organization (DAO), with over 75% voting in favor when it passed on June 7th. 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, potentially including value-sharing components such as tokens or equity. 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. This upgrade focuses on optimizing transaction speeds and fees, making it more efficient and cost-effective for users.

Furthermore, the Arbitrum Foundation has launched 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) and Solana (SOL), have made progress in Web3/blockchain-based games. 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 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 TON and Solana, and its success has been attributed to its unique concept of rewarding players with tokens for exercising using NFT sneakers.