Ethereum Multi-chain Network SKALE Earmarks $100M To Fuel Blockchain Gaming

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

article-image

Blockworks Exclusive Art by axel rangel

share

key takeaways

  • 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. 

SKALE Co-founder Jack O’Holleran

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 launch 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.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Unlocked by Template.png

Research

With the spot ETH ETF approval, the institutions are coming. stETH - given its dominance in marketshare, existing liquid market structures, and highly desirable properties - is poised for institutions.

article-image

Launching cryptocurrencies the old fashioned way may soon make a return

article-image

Kraken and CertiK brought their beef to social media after Kraken said researchers exploited $3 million through a bug

article-image

NVIDIA’s historic run is only deepening the divide between mega-cap tech stocks and the rest of the market.

article-image

EIP-7702 was quickly adopted for the next Ethereum upgrade, but developers haven’t quite locked it down