Polkadot Moonbeam Parachain Launches $13 Million Web3 Gaming Fund

Moonbeam Network, Web3’s smart contract platform, has launched a $13 million funding initiative to accelerate the growth of its ecosystem in key areas such as gaming and real-world asset (RWA) tokenization. The $13 million package consists of a $10 million innovation fund, $1.5 million in Moonbeam ecosystem grants, and $1.5 million in Moonriver grants. Moonbeam said the funding marks the next phase of its Moonrise initiative, which aims to make parachain the leading solution for integrated Web3 networks, including Polkadot and Ethereum.

The Moonbeam team explained that one of the network’s main goals was to attract more games to its blockchain to increase player acquisition and retention. To this end, it selected N3MUS as the first recipient of the innovation fund to develop a gaming-focused ecosystem. N3MUS aims to integrate Web3 gaming into the mainstream by merging traditional gaming with blockchain technology. Moonbeam’s partnership with N3MUS will include co-hosting events to integrate N3MUS into Moonbeam and promote gaming projects. Moonbeam will also connect N3MUS and other fund recipients with venture capital firms for potential further investments.

In addition to the Innovation Fund, Moonbeam also supports its parachain projects and the Moonriver network with grants. The first ecosystem grant will award 4.5 million GLMR, worth approximately $1.5 million, to four parachain projects, including StellaSwap DEX, Moonwell Lending Protocol, Prime interchain platform Protocol, and Beamswap. These protocols are expected to launch their incentive programs on June 14.

Image: Cryptoflies News

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