Web3 DAO Game7 Unveils $100M Grant Program
The grants will be awarded to Web3 game projects over five years.
Nov 28, 2022 at 3:07 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/NCPW2UZDZBEKJJLXF4IMWX2YVQ.jpg)
Game7 Launches $100 million grant program for blockchain games (Pixabay)
Game7, a Web3 gaming-focused decentralized autonomous organization (DAO), launched a $100 million grant program on Monday to help accelerate blockchain-enabled games by smoothing some of the technological bumps on the path to widespread adoption.
"Improving smart contract standards, tooling, interoperable wallets, and scaling solutions will be crucial on the path to global adoption of Web3 games,” said Game7 core contributor Ronen Kirsh in the press release. “We have allocated 20% of our committed treasury to fund each of these crucial components so the gaming industry can focus on building sustainable game economies."
The Game7 DAO’s treasury includes $500 million committed by high-profile decentralized autonomous organization BitDAO and blockchain game platform Forte. The grants will be deployed over five years at $20 million per year to projects across five categories, technology, events, diversity, education and research. The cross-chain program has support from the Polygon, Solana, Immutable and Arbitrum blockchain ecosystems with plans for further expansion over the coming months.
Read more: What Is a DAO?
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/www.coindesk.com/resizer/hUv1U9cMP77z__1hmpusCl6kqtA=/arc-photo-coindesk/arc2-prod/public/5WF4AJAWOJA7FDQBEIWAKGTGYA.jpg)
Brandy covers crypto-related venture capital deals for CoinDesk.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.