This month, we focused our update on governance and deal flow, with Council elections kicking off and investment activity moving forward.
Read on to learn more about our activities in November.
Governance Updates
AGV Council Elections
Council elections are underway! For full details on the process, please see our Timeline and Process Overview post:
Here’s a reminder of the timeline, as well as some updates on progress so far:
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Reconfirmation Vote of the 2 Council-Nominated Seats: November 20, 2025 - November 27, 2025
- Reconfirmation voting has concluded, and the results are as follows:
- The re-confirmation vote for Tim Chang has PASSED.
- The re-confirmation vote for John Kennedy has PASSED.
- Reconfirmation voting has concluded, and the results are as follows:
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Voting Period: November 27, 2025 - December 4th, 2025
- Voting is now underway for the 3 open 2026 AGV Council seats, and will conclude on December 4. Be sure to cast your vote via Snapshot.
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Electee Verification Period: December 5, 2025 - December 12, 2025
- OpCo will conduct a reference check to verify electees’ qualifications as stated on their CVs.
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New Council Term Begins: January 1, 2026
AGV Proposals
This month saw three AGV-related Snapshot proposals passing:
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Proposal B: Startup-Phase Bonus for Current Council Members
This proposal was PASSED, granting AGV’s first Council cohort a one-time startup-phase bonus of 90,000 ARB tokens per member, fully vested, in recognition of the heavier-than-anticipated contributions required to establish AGV’s structure, processes, and early investment strategy during its startup phase. -
Tim Chang Reconfirmation for AGV Council
This proposal was PASSED, reconfirming Tim Chang as part of the 2026 AGV Council. -
John Kennedy Reconfirmation for AGV Council
This proposal was PASSED, reconfirming John Kennedy as part of the 2026 AGV Council.
Conference Activities
This month, we attended YGG Play Summit, and Zebu Live, where we had valuable face time with delegates, other investors, and promising developers.
Michael and Tammy from the AGV team also participated at DevConnect, where they had a chance to meet delegates and other Arbitrum stakeholders.
Portfolio Updates
Expanding our Thesis
We recently made investments in Coverd, Forkast, and Giant, which reflect our interest in expanding beyond pure gaming to explore gamified consumer experiences, prediction markets, and generative AI. We’ll provide more details on this strategic evolution in our EOY update next month, as well as in our next Transparency Report.
Coverd
A gamified fintech platform that blends entertainment and financial action for Gen Z.
Co-investors on this deal include: a16z, Yolo Investments, and Volt Capital
Coverd transforms routine purchases into engaging opportunities to win back real money. Each transaction, whether it’s game day tickets, a table at a club, or groceries, unlocks a chance to play a mini-game and win up to 100% of that purchase amount back.
Former Wall Street traders Albert Wang and Eric Xu built Coverd to help people take control of their finances through an experience that’s fun, exciting, and empowering. Unlike traditional personal finance apps, Coverd takes inspiration from behavioral science and mobile gaming to reimagine the user’s relationship with spending and bill payment. Rather than restricting spending, it elevates it — turning it into a moment of possibility.
“We didn’t build Coverd to help people inhibit their spending; we built it to make spending exciting. We let spenders win twice – the second time is when they play it back and win. Our users want immediacy and upside. Coverd gamifies transactions with real financial leverage, meeting users where they are and turning spending into a moment they look forward to,” said Albert Wang, co-founder & CEO of Coverd.”
Forkast
A prediction market focused on gaming, culture, and sports, where users trade contracts tied to future event outcomes.
Co-investors on this deal include: CoinFund, Bitkraft, Play Ventures, and Animoca
Forkast, the interactive prediction market for gaming and cultural events, today announced its migration to and strategic partnership with Arbitrum, Ethereum’s leading layer-2 network. The migration marks a major milestone in Forkast’s mission to bring real-time, streamer-native trading to prediction markets spanning gaming, sports, crypto, and the broader cultural landscape.
The decision to migrate was driven by Arbitrum’s unmatched block speeds as low as 250 millisecond and liquidity depth, allowing Forkast to process real-time trades and settle outcomes nearly instantly in USDC— an essential requirement for high-frequency prediction markets tied to live events for both professional and casual traders.
“Prediction markets live or die by speed and liquidity," said Chris Gonsalves, CEO of Forkast. "Arbitrum’s unmatched performance and thriving DeFi community make it the perfect home for Forkast as we scale markets across livestreaming, gaming, and entertainment—from World Cup matches and streamer performances to next-day Bitcoin price action.”
Giant
A generative AI children’s media platform that creates interactive, personalized stories.
Co-investors on this deal include Matrix Ventures, FJ Labs, and K-Ventures.
Giant has been selected by Lightspeed as one of their Game Changers for 2026 and named the category winner for Interactive Media.
Giant is rethinking how kids engage with stories–turning each adventure into a world where children don’t just watch, they become the hero. With a platform built to personalize every journey, Giant empowers little ones to explore, create, and grow in safe, magical spaces.
What impressed the judges is Giant’s blend of imagination and integrity: every story is designed with child-psychology experts, protected by SOC 2 encryption and COPPA certification, and crafted to treat screen time as a springboard for curiosity and connection. Built by parents, storytellers, and technologists alike, Giant helps families reclaim the power of meaningful media.
In a landscape of passive entertainment, Giant is elevating what interactive media can be–making each device a stage for wonder, each moment a memory, and every child the star of their own story.
Additional Portfolio Updates
TalkTime on Giant is Exploding
TalkTime engagement on Giant’s platform has exceeded 400,000 minutes, showing a meaningful increase MoM. This feature allows users to enjoy a live, on-demand conversation with the character of their choice.
T-Rex is Growing its Community
The T-Rex community now spans 400K+ verified users, anchored by 230K engaged Passport users with measurable social and trading activity–including more than 1.3M badges minted.
T-Rex’s Version 2 product launch is coming in early December and will bring a full UI/UX upgrade, as well as quest modules to strengthen the incentive loop for projects and users.
Hyve Labs Launches AI-Powered Dev Tools
Hyve Labs recently launched Marvin, an AI-powered games platform that lets users create games in minutes and publish instantly; no coding required.
Hyve Labs also signed their first enterprise partnership with a publicly traded studio generating ~$150M in annual revenue—a huge validation of what they’re building.
Deal Pipeline
After lots of conference activity and networking over the past two months, our team is analyzing and prioritizing high-quality projects that are aligned with our investment thesis, ensuring that AGV support goes to projects that are best positioned to drive long-term ecosystem value.
Here is an overview of our Deal Pipeline:
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Initial Screening: 43
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Pitching: 4
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Diligence: 3
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IC Review: 2
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Final DD: 3
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Completed: 0
Thought Leadership & Earned Media
- Forkast’s move to Arbitrum, as well as AGV’s investment, was covered by OLA GG and Blockchain Gamer Biz.
- Ade Molajo, our Grants Lead, shares his thoughts on how grants can help startups grow in his recent thought leadership piece, “Growth Capital: The Hidden Catalyst for Web3 Gaming”.
Thanks for your continued support as we strive to establish Arbitrum as the leading ecosystem for web3 gaming. We look forward to sharing more in the coming weeks; feel free to reach out with any questions or comments.