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Moonbeam launches a $13M Web3 gaming fund

Moonbeam Network has launched a $13 million funding initiative to boost its ecosystem growth in key areas like 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 is also supporting its parachain projects and the Moonriver canary network with grants.

The first ecosystem grant will allocate 4.5 million GLMR, valued at approximately $1.5 million, to four projects on the parachain, including StellaSwap DEX, Moonwell Lending Protocol, Cross-Chain Interactions platform Prime Protocol, and Beamswap.

These protocols are expected to launch their incentive programs on June 14.

Additionally, efforts are underway to enhance DeFi activities through a proposal for the Moonriver canary network, which would distribute 113,618 MOVR, worth $1.5 million.