Starknet Foundation Bolsters Gaming Ecosystem with Dedicated $120 Million Committee

In a strategic move to enhance its gaming ecosystem, the Starknet Foundation has announced the establishment of a specialized Gaming Committee, backed by a substantial $120 million operational fund. This initiative marks a significant investment into the burgeoning GameFi sector on the Starknet platform.

The newly formed committee comprises six experts drawn from the ranks of the Starknet Foundation, StarkWare, Unstoppable Games, Focus Tree, Cartridge, and Loot Realms. Their collective expertise is expected to drive the expansion of Starknet’s GameFi ecosystem through a three-phase roadmap focusing on analysis, strategy formulation, and execution.

Alongside this development, the Starknet Foundation has committed to allocating 50 million STRK tokens—equivalent to approximately $120 million—as an operational budget for the committee’s proposals.

GameFi has consistently been at the forefront of the cryptocurrency narrative. Starknet’s move comes at a time when GameFi is experiencing a resurgence after a two-year lull. As Bitcoin continues to reach new heights, the GameFi sector has witnessed a remarkable 30% increase in market capitalization over the past 24 hours, momentarily settling at a $32 billion valuation.

Specifically, Starknet has conducted an airdrop of 700 million tokens to early contributors and users, despite facing FUD and fluctuating trading activities. Since then, the Total Value Locked (TVL) of this layer-2 solution has even tripled.

The STRK token experienced a sharp rise to $7.7 on its first day listed on Binance. However, it subsequently faced strong sell-off pressure, bringing the price down to around $1.7 over the past three weeks. In recent days, the token has shown signs of recovery, climbing back to the $2.5 region.

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