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Arbitrum DAO Approves $200M $ARB Investment in Gaming Sector

Jun 7, 2024, 05:59 PM

Arbitrum DAO has approved a significant $200 million investment into the gaming sector, aimed at fostering growth within the Web3 gaming ecosystem. The initiative, known as the Gaming Catalyst Proposal (GCP), will see 200 million $ARB tokens deployed over the next two years to support various gaming projects, gaming chains, and infrastructure builders. This move is expected to drive substantial growth and innovation within the Arbitrum decentralized finance ecosystem. Additionally, the @GMX_IO proposal under the STIP-Bridge Incentives Program was accepted, granting 5.4 million $ARB to support the joint growth of GMX V2 and the Arbitrum ecosystem. Furthermore, 2.25 million $ARB from the STIP-Bridge program will enhance activities on gTrade. Arbitrum is also collaborating with G7_DAO to add more games and a $100,000 prize pool to the Game7 Portal. Despite these positive developments, the price of $ARB has fallen by 12% following the announcement.