Game7, a DAO (decentralized autonomous organization) focused on blockchain gaming, 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 promote the adoption of blockchain gaming across multiple chains.

Game7 Will Support Blockchain Gaming With $100 Million

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

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

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

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

Address and Similar Web3 Programs

The first sector to receive grants will be technology, 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. Game7 grant support goes beyond 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 gamers and game companies, allowing them to benefit and grow together. This is according to John Allen, a Bitdao representative, who stated:

We believe that this new gaming model within a world where users and developers are aligned has the potential to deliver a 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 economic woes facing the industry, according to a September report by Dappradar. VC companies and funds such as Griffin Gaming Partners, Forte and A16z have launched million-dollar financing initiatives for companies involved in this type of project throughout 2022.

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

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as someone who was late to the game, entering the cryptosphere when the price spike occurred in December 2017. With a background in computer engineering, living in Venezuela and being impacted by the rise of cryptocurrencies on a societal level, offers a different point of view. about the success of cryptocurrencies and how he helps the unbanked and underserved.

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