$500M blockchain gaming proposal Game7 to come online with backing
As outlined in a prepared statement obtained by Cointelegraph, Game7 is an upcoming $500 million blockchain ecosystem acceleration decentralized autonomous organization, or DAO, with the goal of onboarding gamers worldwide to the blockchain ecosystem. Entities backing the proposal include BitDAO, Forte, Alameda Research, Mirana Ventures, Warner Music Group, Aleo, , Interchain Foundation, Offchain Labs, OP Games, Polygon Studios, and Ventures. Meanwhile, Forte Labs and Magnus proposed its creation.
Together, Forte will commit $100 million in fiat and crypto while BitDAO will commit $400 million worth of crypto assets in its treasury, such as Ether (ETH) and (USDT). The funds will be released over a period of five years.
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