by Game7 has launched a $100 million grant program to accelerate developers who create Web3 games.
The San Francisco-based entity is a Decentralized Autonomous Organization, or DAO, supported by
BitDAO and Forte ecosystems. It’s the kind of thing blockchain game studios need now, as the crypto winter, economic downturn, and gamer hostility to Web3 take their toll.
The program will allow developers to create tools, create educational programs, organize events and conduct research to make the Web3 video game industry more diverse and accessible.
The $100 million in grants will be rolled out over the next five years at $20 million per year. Grants will be distributed to Web3 game projects in five categories: technology, events, diversity, education and research. Interested developers can apply today on the Game7 Grants portal.
Web3 games are still in their infancy and lack the depth and sophistication needed to appeal to mainstream users, Game7 said.
Game7 released a survey of 100 web3 game developers which revealed issues with on-chain election, wallet custody, durability issues, etc. that need to be addressed. Funds allocated under this program will go to projects that build promising solutions to these challenges.
“Improved smart contract standards, tools, interoperable wallets and scaling solutions will be critical on the road to global adoption of Web3 games,” says Game7 lead contributor Ronen Kirsh in a statement. “We have allocated 20% of our committed cash to fund each of these crucial components so the gaming industry can focus on building sustainable gaming economies.”
Blockchain technology has the ability to advance games into the future, and technology grants support open source projects that will drive innovation across the entire blockchain gaming technology stack.
The number of active blockchain games has doubled in the past year, and the Game7 grant program aims to bring together the global gaming community and lead the transition from the current status quo to a thriving new meta-world.
This program is cross-chain and inclusive in nature with support from the Polygon, Solana, Immutable, and Arbitrum ecosystems, with plans to expand even further in the coming months.
“We believe this new model of games in a world where users and developers are aligned, has the potential to grant a greater distribution of equity and ownership,” said BitDAO representative Jon Allen, in a press release.
Game7 is a Web3 Gaming DAO created to accelerate the adoption of blockchain-based gaming economies, with a treasury endowed with $500 million in committed capital from BitDAO and Forte. The Game7
will help shape capital allocation decisions, set gaming standards, and fund open source software.
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