Moonbeam Network is a smart contract platform that accelerates Web3 integration across Polkadot, Ethereum and the broader EVM ecosystem. It has launched the Moonrise initiative to signal the next phase in its evolution. Moonbeam announced $13 million in development support targeted at gaming, real-world assets, the Moonriver canary network and other key areas. The package comprises a $10 million Innovation Fund plus $1.5 million in Moonbeam ecosystem grants (4.5 million GLMR) and $1.5 million in Moonriver grants (113,618 MOVR). The Innovation Fund's first investment is in N3MUS, which is building a gaming-specific ecosystem to attract mainstream games and improve gamer acquisition and retention on Moonbeam. Moonbeam will introduce Innovation Fund recipients and other grantees to its venture capital network, including Arrington Capital, CoinFund, Scytale Digital, Metazero Capital and AD8 Dot Play, and pursue co-marketing, event partnerships and integrations. Moonbeam Network is a fully EVM-compatible Polkadot parachain developed by Purestake. It is currently live in a sandbox testnet where users can experiment with its functionality. The team plans to deploy Moonriver to Kusama and to launch Moonbeam as a Polkadot parachain targeted for Q3 2021. The core product emphasizes Ethereum-Polkadot compatibility to provide robust smart-contracting facilities on Polkadot. Purestake completed a $6 million strategic funding round to support growth, tooling, security audits, and expansion in Asia. Investors in the round include CoinFund, Binance Labs, ParaFi, Coinbase Ventures, Fenbushi Capital, and IOSG Ventures.

Total raised

$19M

Funding rounds

4

Latest round

Grant

Latest activity

Jun 2024