SKALE, the Ethereum-focused multi-chain network, set up a $100 million grant program to fund the future of blockchain-based gaming. The money will be used to increase and onboard applications and projects to the SKALE network.
SKALE Network is an open-source, decentralized “elastic” blockchain network designed to scale Web3 applications. Skale chains are configurable, application-specific blockchains (often called “dynamic shards”) that exist one layer above the Ethereum blockchain. SKALE chains can run full-state smart contracts, support decentralized storage, execute rollup contracts (a layer-2 scaling solution), and run machine learning algorithms using the EVM (Ethereum Virtual Machine).
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 together with the network’s next iteration, SKALEV2 or SKALEverse, which aims to optimize features like chain-to-chain transfers, creating ecosystem hubs, NFT marketplaces and faster game modes.
The network aims to onboard billions of users and has a focus on NFTs (non-fungible tokens), DeFi and Web3.
SKALE Co-founder Jack O’Holleran has said in a statement that this network helps blockchain games build experiences for users, including zero fees or gasless transactions, plus supporting interconnected and interactive blockchains.
The blockchain gaming space has been massively expanding over the last 12 months and drawing attention from big-time investors and funds has been very obvious.
Earlier in February, 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.
It’s not coincidence that almost everyone is trying to make the best NFT’s platforms, just a week ago the South Korea’s University Hoseo will issue NFTs ( non-fungible token ) degrees and certificates to all 2,830 graduates of its 2021 batch at its graduation ceremony.
The university hopes that NFT degree will improve access to administrative services and prevent forgery or alteration of the degree.
Earlier this week, South Korea’s Samsung-backed Sungkyunkwan University issued NFT certificates to three students in its graduation ceremony.
There has been obvious increase in adoption of NFTs in South Korea lately, from wide rage of industries like Samsung, SK and LG, has included NFTs in their newest line of goods and services.