Starknet (STRK) Establishes GameFi Development Fund

The newly established committee will develop and propose programs aimed at attracting game developers and users to the Starknet (STRK) ecosystem.

Azcnews Breaking

In an effort to promote its gaming ecosystem, the company behind Starknet has recently established a gaming committee with an operating fund of up to $120 million.

This committee comprises 6 experts from Starknet Foundation, StarkWare, Unstoppable Games, Focus Tree, Cartridge, and Loot Realms. The organization will follow a three-stage roadmap: analysis, planning, and execution to expand the GameFi ecosystem on Starknet.

Additionally, Starknet Foundation has pledged to allocate 50 million STRK tokens – equivalent to around $120 million – to fund the committee’s proposals.

GameFi has always been one of the hottest topics in the cryptocurrency space. Starknet’s move comes as the GameFi sector is regaining momentum after more than two years of silence.

While Bitcoin continues to reach new highs, the GameFi sector is also experiencing significant growth. The total market capitalization of the entire sector has increased by 30% in the past 24 hours, reaching $32 billion.

For Starknet, the project has conducted an airdrop of 700 million tokens to users and contributors from the early stages. Despite facing negative sentiments and trading fluctuations, the TVL of this layer-2 solution has tripled.

Related: Binance Announces Listing of Starknet (STRK)

Chart STRK

The price of STRK surged to $7.7 immediately after being listed on Binance. However, it then experienced significant sell-offs, pushing the price down to $1.7 over the past 3 weeks. Recently, the price has begun to recover, reaching $2.5.

Chart Strk

Charts of STRK on TradingView at 9:28 AM on March 12, 2024.

(1 vote)

4.0/5

(1 vote)
  1. Avatar of
    Anonymous

    Nice having you

Comments are closed.

Latest

Vitalik Buterin Issues Risk Warning About Worldcoin

Altcoin | Editor Choice

Vitalik Buterin Issues Risk Warning About Worldcoin

Vitalik Buterin has issued a warning about the risk of privacy breaches undermining the privacy rights that Worldcoin provides.

Binance Linked Group Joins Drafting Of Crypto Legislation In Kenya

News | Editor Choice | Policy & Regulations

Binance-Linked Group Joins Drafting of Crypto Legislation in Kenya

The inclusion of an organization allegedly closely tied to Binance in Kenya’s new crypto regulatory board has sparked concerns among local startups about potential policy manipulation and unfair competition.

Transforming $86,000 Into $1 Million Through Daily Bitcoin Dca

Editor Choice | Bitcoin

Transforming $86,000 into $1 Million through Daily Bitcoin DCA

An account X is sharing a video about the daily DCA (Dollar-Cost Averaging) journey of Bitcoin from $86,000 to $1 million after nearly 2 years.

The American Bank Urges Customers To Sell These 3 Coins

Altcoin | Editor Choice | Policy & Regulations

The American Bank Urges Customers to Sell These 3 Coins

The federally licensed digital bank Anchorage Digital has urged customers to withdraw funds from USDC, AUSD, and USD0.

Bitcoin Continues To Rise As Market Enters A Crucial Phase

News | Bitcoin | Editor Choice

Bitcoin Continues to Rise as Market Enters a Crucial Phase

The cryptocurrency market is at a decisive moment as Bitcoin hovers around the $110,000 mark, signaling a potential breakout amid an intense standoff between bulls and bears.