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He Arbitration (ARB) The 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 promotes blockchain games
According to 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 address these issues by offering a comprehensive set of tools and resources to game developers.
The Arbitrum program will reserve 225 million ARB tokens over the next three years to attract The best game developers on the Arbitrum platform drive innovation and improve the player experience. Developers will gain access to Arbitrum's scalable, secure and interoperable platform, along with mentoring and project support.
The initiative was first proposed on March 12 and received support from the decentralized autonomous organization (DAO) Arbitrum, with over 75% voting in favor when it was approved on June 7.
The team says the program aims to attract 200 to 300 development applications, ensure more than 20% of Web3 games use Arbitrum, launch 25 new Orbits, and achieve the largest net migrations between 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 may request larger investments, which may include shared value components such as tokens or shares.
In addition to directly funding developers, the remaining funds will be allocated to infrastructure, rewards, and operational expenses to nourish 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 cryptocurrency-related film produced by an Oscar-winning filmmaker and has partnered with Transient Labs to enhance the digital art experience on Arbitrum. Additionally, the foundation has thrown out Orbit, a fully permissionless chain that offers dedicated performance and improved reliability on gas rates.
Aiming to significantly reduce fees and improve the overall user experience, Arbitrum introduced the Atlas update on March 18. The update focuses on optimizing transaction speeds and fees, making it more efficient and cost-effective for users.
Additionally, the Arbitrum Foundation also announced the launch of its Phase 3 Grants Program, marking an important milestone in its mission to foster and expand the decentralized application (dApp) ecosystem.
This final phase introduces grant pathways, a standardized approach to awarding grants aimed at improving transparency and equity in the allocation process.
It also classifies projects into different grant pathways based on their stage, growth potential and type. Each track specifies goals and an allocated amount, ensuring projects receive personalized attention and resources appropriate to their current status and future goals.
Blockchain games encourage cryptocurrency adoption
Many blockchain networks, including Open Network (TON), Solana (SOL), and others, have made progress in Web3/blockchain-based gaming.
Telegram's TON and Solana emerged as key players in this space.
TON has seen a proliferation of gaming projects, and several viral crypto games are gaining popularity. TapSwap, a game in which players earn TAP coins by tapping digital icons, has become a viral sensation. The platform's focus on community engagement, with features such as 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 wearing the platform's nft sneakers. The game has added more than 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 participate in various activities within a virtual world. The project has a strong focus on community participation.
StepN is available on both Ton and Solana on Telegram. The game's success has been attributed to its unique concept of rewarding players with tokens for exercising with nft sneakers.
