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Web3 DAO Game7 Unveils $100M Grant Program
The grants will be awarded to Web3 game projects over five years.
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."
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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?
Brandy Betz
Brandy covered crypto-related venture capital deals for CoinDesk. She previously served as the Technology News Editor at Seeking Alpha and covered healthcare stocks for The Motley Fool. She doesn't currently own any substantial amount of crypto.
