Arbitrum DAO discusses grants to support Web3 games, with development phases receiving anywhere from $100,000 to over $1.5 million. This effort aims to capitalize on the growing $272 billion gaming industry, enhance Arbitrum’s gaming ecosystem and position it competitively in the Web3 space.
Web3 game contributors, including XAI, TreasureDAO, and Helika, approached Arbitrum DAO to discuss potential grant allocations aimed at supporting Web3 game development. The discussions offer structured grant allocations for different stages of game development, with recommendations ranging from $100,000 to $1.5 million for early game development, $250,000 to $500,000 for alpha to beta stages, and over $1.5 million for game launch and growth phases.
The opportunity at Web3 Gaming
The global gaming industry, which boasts over 3 billion gamers and will generate an estimated $184 billion in revenue by 2023, represents a significant opportunity for the Web3 space. Arbitrum, which is currently ranked 7th in total games among blockchain networks, has the potential to attract developers through the distribution of grants and a supporting network of experts. The discussions highlight the need for Arbitrum to take advantage of this opportunity to not only enhance its gaming ecosystem, but also secure a competitive position in the rapidly growing Web3 gaming market, which is expected to reach $426 billion by 2029.
Allocation of strategic grants
The proposed grant allocations are intended to cover various phases of development, from initial game development to game launch and subsequent growth, with a particular focus on achieving positive economics per unit, scale and high engagement. The grants are intended not only to provide financial support, but also to ensure that the games developed under this program meet high standards of quality and innovation.
Improving the Arbitrum gaming ecosystem
The initiative also highlights the importance of building a supportive ecosystem for game developers, including the launch of Arbitrum Orbit and Stylus, which are critical to attracting game developers. By leveraging its technology infrastructure and fostering a community of developers, Arbitrum aims to increase the number of quality games on its platform, thereby strengthening its position in the Web3 gaming sector.
Conclusion
As the Web3 gaming industry continues to evolve, Arbitrum’s proactive approach to supporting game developers through structured grants and a supportive ecosystem represents a strategic effort to capture a significant share of this growing market. By attracting talented developers and facilitating the development of innovative and engaging games, Arbitrum aims to strengthen its position as a leading platform for Web3 games.
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