SKALE sets sights on DeFi and NFTs with $100M ecosystem program

Multi-chain blockchain network SKALE has today revealed a $100 million ecosystem incentive program to rapidly increase the number of DeFi and NFT platforms being onboarded and built on its network.

Called ‘SKALE MP’, the program will offer grants to developers building projects focused on blockchain gaming, play-to-earn (P2E) and metaverse games on SKALE.

Being launched this Spring, the program will start with a $5 million trough in incentives for developers, and will also coincide with the launch of ‘SKALE v2’.

Also referred to as the ‘SKALEverse’, the V offering includes a number of ‘gaming-optimised’ features for users on SKALE, including chain-to-chain transfers, scalable ecosystem hubs to drive further growth and the addition of native NFT marketplaces to the blockchain.

The incentives program will operate under the umbrella of the ‘NODE (Network of Decentralized Economics) Foundation’, which was created to fulfil the roadmap laid out by SKALE and help it achieve its gaming-focused ambitions.

“SKALE is uniquely positioned to help blockchain games optimise their user experience,” said Jack O’Holleran, co-founder of SKALE.

“Whether it’s zero-fee/gasless transactions, fast finality or knowing that they are part of a larger universe of interconnected and interactive blockchains, developers become a part of the SKALEverse of blockchains.”

The grant program will consist of grants made in various cryptocurrencies and fiat, with additional support provided by the SKALE DAO to help allocate the funds to a larger ecosystem fund aimed at “strengthening and growing the SKALE Network”.

The SKALE network is an Ethereum native multi-chain blockchain aiming to bring NFTs, DeFi and Web3 access to the broader crypto ecosystem. It previously raised $17 million in a fundraising round led by Gemini founders Cameron and Tyler Winklevoss’ VC fund, Winklevoss Capital.