Altura announces $1 million Web3 gaming grant fund

Altura recently announced a $1 million Web3 Gaming Grant Fund, which will provide $50,000 each month to qualifying studios and developers based on a real-time community voting system.

Also read: COTI V2 Developer Network Goes Live With a 400M Tokens Grant Program

According to Altura’s latest Twitter announcement, the goal of this grant is to fuel innovation and creativity in Web3 gaming using a democratic voting system. It gives the community a chance to vote for projects that they believe in.

$1M in grants to fuel innovation & creativity.

Introducing: the Altura Web3 Gaming Grant Fund.

Every gamer matters. Are you ready? 🎮 pic.twitter.com/XH0VSKISSN

— Altura (@AlturaNFT) June 3, 2024

Altura calls for applications from developers and studios

Web3 game developers and studios can now apply for the grant directly on Altura’s grant website. Once the application has been submitted, applicants will get access to a unified dashboard where they can check the status of their application and vote count in real-time.

Also read: a16z Launches $600 Million Game Fund

To be eligible for voting, community members must hold $ALU coins in their wallets prior to the voting cycle. Each $ALU coin is equivalent to 1 Vote token, which can be claimed by voting for a particular project.

“It’s a direct democracy where every vote matters and your votes give you the power to champion the projects you believe in.”

– Altura

How does the application process work?

The applicants are required to fill out an application containing details of their company and the game. After that, Altura’s moderators will review the application to ensure that it is legitimate and authentic. Once approved, the company will be listed in the upcoming voting cycle.

Applications for the next voting cycle in July are currently open from 1st June to 20th June. Altura suggests companies be as transparent and detailed as possible about their projects to increase their chances of getting votes from the community.

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Cryptopolitan reporting by Shummas Humayun