By Jacquelyn Melinek / February 18, 2022, 12:00 pm EST
- The ecosystem program will launch in tandem with SKALE V2, or SKALEverse
- The network aims to onboard billions of users and has a focus on NFTs, DeFi and Web3
Ethereum-focused multi-chain network SKALE set up a $100 million grant program to fund the future of blockchain-based gaming.
The company announced the initiative at the ETHDenver conference on Friday. The capital will be used to increase and onboard applications and projects to the SKALE network.
The Network of Decentralized Economics (NODE) will kick-start the program with $5 million to creators focused on blockchain gaming, play-to-earn gaming and the metaverse.
The launch is timed in tandem with the network’s next iteration, dubbed, SKALE V2, or SKALEverse, which aims to optimize features like chain-to-chain transfers, creating ecosystem hubs, NFT marketplaces and faster game modes.
Like most blockchains, the network aims to onboard billions of users and has a focus on NFTs (non-fungible tokens), DeFi and Web3.
Its network helps blockchain games build experiences for users, including zero fees or gasless transactions, plus supporting interconnected and interactive blockchains, SKALE Co-founder Jack O’Holleran said in a statement.
This move is the latest step for the blockchain gaming space writ large, which has expanded over the past 12 months and is drawing increasing attention from big-time investors and funds.
Earlier this month, Gamestop and Immutable launched a $100 million joint fund for gaming NFTs. In November, Forte added $725 million in funding earmarked for blockchain games in one of the largest funding rounds of the year.
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Jacquelyn Melinek is a New York-based reporter covering funding, decentralized finance (DeFi) and decentralized autonomous organizations (DAOs). She previously reported on energy markets for S&P Global Platts and Bloomberg News and is published in over 65 news outlets. She graduated from the University of North Carolina at Chapel Hill with a degree in Media and Journalism. Contact Jacquelyn via email at [email protected]