- N3MUS, Moonbeam’s first innovation fund recipient, has been tasked with creating a gaming experience on the network.
The Web3 smart contract platform Moonbeam Network has announced a $13 million investment campaign to support the expansion of its ecosystem in important domains such as gaming and tokenization of real-world assets (RWAs).
The $13 million package consists of a $10 million innovation fund, $1.5 million in grants for the Moonbeam ecosystem, and $1.5 million in awards for Moonriver.
With this money, Moonbeam hopes to advance its Moonrise effort, which intends to make the parachain a top choice for integrated Web3 networks like Ethereum and Polkadot.
N3MUS has been selected as the innovation fund’s first recipient in an effort to develop a gaming-focused ecosystem. N3MUS aims to popularize Web3 gaming through the integration of blockchain technology with conventional gaming.
The N3MUS donation, according to Sicco Naets, Head of Ecosystem Development at Moonbeam Foundation, indicates Moonbeam’s dedication to assisting developers and lowering friction in blockchain technology, as reported by CryptoSlate.
In order to include N3MUS into Moonbeam and support gaming projects, Moonbeam and N3MUS will also collaborate on event planning. In order to facilitate possible future investment, Moonbeam will also put N3MUS and other money beneficiaries in touch with venture capital firms.
Ecosystem awards
In addition to the innovation fund, Moonbeam provides funding for its parachain initiatives and the Moonriver canary network.
Prime Protocol, the Cross-Chain Interactions platform, StellaSwap DEX, Moonwell Lending Protocol, and Beamswap are the four projects on the parachain that will get the first ecosystem grant, which is worth 4.5 million GLMR, or about $1.5 million. On June 14, these protocols are anticipated to begin their incentive programs.
Furthermore, a plan to expand DeFi operations is in the works for the Moonriver canary network, which would disperse 113,618 MOVR, valued at $1.5 million.
Among the expected beneficiaries are DeFi projects like Moonwell and Beamswap. The money will be used by these projects to help their platforms provide liquidity. The plan is still awaiting approval, though.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
