Moonbeam Network, a Web3 smart contract platform, has unveiled a $13 million funding initiative to boost ecosystem development in essential sectors such as gaming and real-world asset (RWA) tokenization. The package encompasses a $10 million innovation fund and $1.5 million in Moonbeam ecosystem grants and Moonriver grants.
Game-Changing Innovation Fund
The recent funding signifies the continuation of Moonbeam’s Moonrise initiative, which aims to establish the parachain as a top choice for incorporating Web3 networks like Polkadot and Ethereum. The Moonbeam team emphasized that their innovation fund aims to support forward-thinking projects and developers leading the way in Web3 development.
Moonbeam will allocate a considerable part of the innovation fund to gaming, with N3MUS as the initial recipient. This company’s primary goal is to create a specialized ecosystem for gaming on Moonbeam. N3MUS aspires to bridge the divide between conventional gaming and blockchain, making Web3 gaming more widely accessible. The ultimate aim is to attract more games to the Moonbeam platform, enhance gamer acquisition, and strengthen retention tactics.
Aside from the innovation fund, Moonbeam has also dedicated $1.5 million in ecosystem grants to promote different initiatives within its network. These grants specifically focus on RWA tokenization, DeFi, and infrastructure development. Similarly, an additional $1.5 million has been earmarked for the Moonriver network, which serves as a testing ground for innovation and progress.
Impact on Web3 Future
This initiative holds great potential for significant impact. Moonbeam aims to equip ecosystem participants with extensive resources and unparalleled support, enabling them to bring about substantial change and turn the shared vision of integrated Web3 into a tangible reality.
Moonbeam’s strategic investments will bolster its standing in the blockchain industry, promoting important applications and driving progress. Beneficiaries of these grants will have valuable connections to venture capital firms and the strong support of the Moonbeam Foundation, setting them up for success.
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