Moonbeam Ecosystems Gets $100m Growth Fund Courtsey of Arrington Capital

Crypto investing giant Arrington Capital has launched a new $100m growth fund for Moonbeam Ecosystems. Moonbeam is a "Fully Ethereum-Compatible Environment on Polkadot," which promises to be "the easiest path to multi-chain," according to their websites. The Arrington Moonbeam Growth Fund strives to support new projects in the Moonbeam network, such as Defi marketplaces, NFTs, and gaming. The fund has already deployed capital to two separate projects, the beneficiaries of which were not disclosed.

An ETH-compatible parachain, Moonbeam allows for secure cross-chain interoperability without using bridges. The platform launched at the start of this year has over 100 projects in the works, with over 6.5 million transactions completed and over 5,000 smart contracts deployed. 

According to The Moonbeam Foundations' website, this is the first-ever ecosystem fund for the network and is excited to "spur additional development and growth on the network." 

Arrington Capital's founder Michael Arrington said, "We are thrilled to more deeply support the Moonbeam team's goal of empowering cross-chain expansion for startups and developers in the simplest way possible. This fund signifies our enthusiasm for Moonbeam, and we're excited to work closely with the rapidly expanding ecosystem of teams there." 

Author: Garrett Meifert

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