SKALE, an Ethereum native multi-chain network announced a $100 million ecosystem incentive program with the aim of increasing the onboarding of good applications and initiatives onto the SKALE Network.
Given the steady growth potential and alignment with market demand, NODE will be starting off the program with a $5 million value in incentives to application developers and projects focused on blockchain gaming, play-to-earn (P2E), and Metaverse.
SKALE MP, as it has been dubbed, will provide grants to developers of P2E games that have been chosen by a selection committee of professionals that will be announced in the foreseeable future. MP comes from the gaming term Magic Points/Mana Points which is the resource required “to cast spells to power up your player.”
As mentioned in the update shared with CI, this program will coincide with the launch of SKALE V2 (SKALEverse) which includes gaming optimized features like speedy game mode, SKALE Chain-to-Chain transfers, the launch of ecosystem SKALE Hubs, and NFT Marketplaces.
Blockchain-powered games, particularly P2E, showed a significant 50X increase in investment from the past year, “topping 2021 with a whopping $4 Billion in VC investment.”
There has also been “a clear trend that games are driving the bulk of growth as it overtook DeFI in a number of unique active wallets (UAW) for the first time in August of 2021.”
That trend continued, “with the gap in December 2021 growing wider.” At the end of last year, games represented more than half of the UAW.
Developers that are creating a blockchain integrated game and are interested in applying for a grant should contact the Skale Network team.
To be approved for grants, recipients need to undergo a review process. As a part of the award, developers will be highlighted “as a part of SKALE Labs communications and also receive marketing support towards their successful launch.”
The grant program will “consist of grants made in various cryptocurrencies and fiat and will be supported by the SKALE DAO, NODE Anstalt, a subsidiary of the Network of Decentralized Economics in Liechtenstein, and other SKALE supportive entities.”
The funds will be “allocated to a larger ecosystem fund to projects that satisfy a variety of criteria aimed at strengthening and growing the SKALE Network.”
Upon commencement of the program in March a decentralized committee will be announced that “will help allocate funds, advise, and support the initiatives of the program.”
As covered, SKALE is an Ethereum native multi-chain network “composed of an unlimited number of secure, decentralized, high-performance blockchains for bringing NFTs, DeFi, and Web3 to billions of users.”
SKALE’s configurable platform was built “to support an ever-expanding set of Dapp-specific chains that run without centralized dependencies.”
Plus, SKALE’s pooled security system and containerized node architecture “enable developers to deliver a high-speed, seamless user experience without gas fees or latency.”
SKALE’s open-source platform “provides quick consensus with fast block times and instant finality and includes EVM compatibility, on-chain NFT file storage, rollup contract execution, zero-cost minting, and gasless transactions, and machine learning smart contract functionality.”
The Network of Decentralized Economics (N.O.D.E.) Foundation based in Liechtenstein has been “created to carry out the mission of supporting the SKALE Network.”
The SKALE Network is an open source project “with many contributors including SKALE Labs, Inc. headquartered in San Francisco, CA.”
The SKALE Network’s supporters “include Arrington Capital, Blockchange, ConsenSys Labs, Hashed, HashKey, Floodgate, Multicoin Capital, Recruit Holdings, Signia VP, and Winklevoss Capital.”
The SKALE Network is “supported by many of the top validators in the world including 01NODE, Ankr, Anonstake, Audit One, Blockdaemon, Blockware, Chainflow, Chainode, Chorus One, Cypher Core, Dokia Capital, Figment Networks, FreshSkale, Hashed x DELIGHT, Hashquark, Staked, Stakin, Stake With Us, WolfEdge Capital, as well as Staking Facilities.”
SKALE Network “utilized the $SKL token which is listed on 37 exchanges/DEXs globally, including Binance, Coinbase, FTX, Gemini, Huobi, OKEx.”