Game7 Launches $100 Million Grant Program to Push Web3 Gaming Development – Blockchain Bitcoin News

Game7, a blockchain gaming-focused DAO (decentralized autonomous organization) has announced the launch of a $100 million grant program. The goal of this grant program is to support the Web3 gaming community in these times of market downturn and to promote the adoption of blockchain gaming on multiple chains.

Game7 backs Blockchain Gaming with $100 million

Game7, a Web3 game dedicated project that has already supported projects on various chains including Arbitrum, Polygon, Immutable X and Solana, has announced the launch of a $100 million grant program to support Web3 game companies. The chain-agnostic project announced that the goal of this move is to offer support to these initiatives to push the Web3 gaming ecosystem forward even in adverse times for the crypto industry.

The organization, which is a DAO backed by Bitdao and Forte, aims to distribute these funds over the next five years to the best projects that present their initiatives. The grants will be distributed among five different areas, including technology, events, diversity, education and research.

Regarding the direction of these funds, Game7 contributor Ronen Kirsh stated:

Improving smart contract standards, tools, interoperable wallets and scaling solutions will be critical on the path to global adoption of Web3 games. We have allocated 20% of our committed treasury to fund each of these critical components, allowing the gaming industry to focus on building sustainable gaming economies.

Direction and similar Web3 programs

The first sector to receive grants will be the technology space, which will focus on supporting teams preparing open source development in certain key areas, including game development tools, smart contracts and standards, core infrastructure and community tools. The Game7 support goes beyond just financial assistance, as it includes access to technical support, mentoring and early access to Game7 initiatives.

Game7 believes in Web3 gaming as a force that can empower both players and gaming companies, allowing them to benefit and grow together. This is according to John Allen, a representative of Bitdao, who stated:

We believe that this new game model, in a world where users and developers are aligned, has the potential to provide greater distribution of equity and ownership.

Web3 gaming has been one of the few areas of the cryptocurrency world that has continued to grow even amid the financial troubles facing the industry, according to a report issued in September by Dappradar. Companies and VC funds such as Griffin Gaming Partners, Forte and A16z have launched millionaire funding initiatives for companies involved in this type of project throughout 2022.

What do you think of Game7’s $100 million Web3 gaming grant program? Tell us in the comments section below

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price spike occurred during December 2017. He has a computer engineering background, lives in Venezuela and is influenced by the cryptocurrency boom on a social level, offering a different point of view on crypto success and how it helps the unbanked and underserved.

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