Game7 launches $100M grant program to promote web3 gaming adoption
Game7, a web3 gaming decentralized autonomous organization (DAO) announced it is launching a US$ 100 million open-source technology grant to support web3 gaming-focused projects in a Nov. 29 Twitter post.
Forte and BitDAO pledged US$ 500 million to Game7’s treasury, which gives the companies decision-making power on how the funds will be allocated and help develop gaming standards.
The fund will be deployed over the next five years at US$20 million each year to support individuals, DAOs and startups working on game development tooling, smart contracts and standards, core infrastructure, and community tooling across five categories: technology, events, diversity, education and research-focused web3 gaming projects.
The fund aims to support projects that address pain points that bars web3 gaming from gaining mass adoption including chain election, wallet custody, sustainability issues.
‘Improving smart contract standards, tooling, interoperable wallets, and scaling solutions will be crucial on the path to global adoption of Web3 games,’ says Game7 core contributor Ronen Kirsh, in a statement. ‘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 program supports games built on the Solana, Immutable, Arbitrum, and Polygon and will expand to include more blockchains expected in the upcoming months.
Applications for the program are now open to developers on Game7 Grants Portal.