Forte proposed a $500 million accelerator DAO “Game7” for GameFi, with BitDAO, Alameda Research, and Mirana as initial partners

By Selena On Nov 3, 2021

According to information from the BitDAO Forum, they propose a $500 million blockchain ecosystem acceleration DAO designed and built to accelerate the adoption and development of the blockchain gaming industry. In it, the money will be used for DAO “Game7” for GameFi, with BitDAO, Alameda Research, and Mirana as initial partners.

A $500 million blockchain ecosystem acceleration DAO Game7

Game7 will focus on three key levers to spur greater adoption of blockchain-enabled game economies for a global base: open-source public goods fundings, education, and strategic capital with industry know-how.

“Game7 will set ambitious returns and social impact metrics, measure itself against quantifiable results, and emphasize community participation. We will bring together the global gaming community and lead the transition from the current status quo to a new, prosperous meta-world”, the proposal stated.

Forte’s announced their partners include Gallium Studios (Will Wright, founder of The Sims), Hi-Rez Studios, Monster Ideas, Penrose, GC Turbo, Other Ocean, Kongregate, nWay, Magmic, and more. BitDAO has raised more than $400M from leading gaming and Silicon Valley ventures funds such as Andreessen Horowitz, Griffin Gaming Partners, a16z Crypto, Griffin Union Grove Venture Partners, Battery Ventures, Canaan, and more.

Forte will commit $100 million in USD or other convertible cryptocurrencies. BitDAO will commit $400 million in ETH, BIT, USDC, USDT, or any other assets held in its treasury. The initial upfront funding will be $100 million. Forte commits to funding $20 million USDC and BitDAO commits $80 million in USD-equivalent from its treasury assets.

Source: Game7 – BitDAO Proposal

With such a total amount, BitDAO will receive ownership rights in Game7 for its contributions.

Game7 reserves the right to accept additional Community Partners from blockchain gaming organizations who are interested in joining Game7 and contribute strategic value through their Voting Rights. The final allocation should be made by November 5th, 2021.

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