Moonbeam Network, a Web3 smart contract platform, has initiated a $13 million funding program to accelerate growth within its ecosystem, particularly focusing on gaming and real-world asset (RWA) tokenization.

This comprehensive funding package comprises a $10 million innovation fund, $1.5 million in Moonbeam ecosystem grants, and an additional $1.5 million allocated for Moonriver grants.

This funding initiative signifies the advancement of Moonbeam's Moonrise initiative, aimed at evolving the parachain into a leading solution for integrated Web3 networks, encompassing Polkadot and Ethereum.

The innovation fund, a core component of Moonbeam's strategy, aims to attract more gaming projects to the blockchain, enhancing user acquisition and retention. N3MUS, selected as the first recipient of this fund, is focused on developing a gaming-centric ecosystem, blending traditional gaming with blockchain technology.

Sicco Naets, Head of Ecosystem Development at Moonbeam Foundation, emphasized that the N3MUS funding underscores Moonbeam's dedication to supporting developers and streamlining blockchain technology adoption. Neal Peters, CEO of N3MUS, highlighted the significance of the partnership in bridging traditional gaming with blockchain.

In addition to financial support through the innovation fund, Moonbeam is providing grants to parachain projects and the Moonriver canary network. The ecosystem grants, valued at approximately $1.5 million, are allocated to four projects on the parachain, including StellaSwap DEX, Moonwell Lending Protocol, Cross-Chain Interactions platform Prime Protocol, and Beamswap, with the aim of launching their incentive programs by June 14.

Furthermore, Moonbeam is proposing to enhance DeFi activities on the Moonriver canary network by allocating 113,618 MOVR, equivalent to $1.5 million, to projects like Beamswap and Moonwell, among others. These funds will facilitate liquidity provision on their platforms, pending approval of the proposal.