Web3 is a fast-paced environment where constant innovation fuels demand for new products and services. That’s why the Moonbeam Foundation is strategically expanding partnerships and integrations to demonstrate Moonbeam’s real-world utility and potential, centered around four critical use cases:
- Cross-chain Connectivity
- Gaming
- Real World Assets (RWA)
- Emerging Markets
These use cases align with Moonbeam’s goal to be a layer 1 network that allows developers and entrepreneurs to create groundbreaking on-chain technology. They are also projected to reach trillions in market share, driving new users to Web3.
Cross-Chain – A Frictionless Internet
Web3 and blockchain offer revolutionary capabilities for decentralized applications, online systems, and financial technology. However, Web3’s potential has been restricted by the inability of different blockchains to communicate and interact seamlessly. This makes transferring assets and data between chains difficult and complex. Moonbeam overcomes this hurdle with XCM technology for enhanced communication between parachains, along with Cross-Chain Connected Contracts and Moonbeam-Routed Liquidity (MRL) for seamless cross-chain connectivity.
Moonbeam’s Cross-Chain Connected Contracts use messages sent across chains to enhance interoperability with Polkadot (via XCM, cross-consensus messaging) and other top chains such as Ethereum, Cosmos, and Avalanche (via cross-chain messaging systems like Axelar and Wormhole).
MRL allows frictionless asset movement between Moonbeam and external ecosystems. Currently, Moonbeam has over 15 XCM integrations that can also use MRL to improve liquidity and interoperability. Recent examples are Origintrail, Interlay, and Zeitgeist, using XCM, MRL, and Moonbeam’s XC-20 token interoperability standard.
These interoperability tools are transforming Web3’s infrastructure of lonely islands into a truly interconnected network. The result is a new blockchain-based internet, a decentralized version of Web2. By allowing assets to flow freely across blockchains, Web3 becomes frictionless.
Cross-chain interoperability is one of our strongest “bets,” and we are actively providing grants to projects that enable it further while assisting with integrations across ecosystems.
Gaming – Next-Generation Experiences
The blockchain gaming market could grow to $65.7 billion in the next three years as blockchain technology revolutionizes the gaming experience. Blockchain’s ability to serve as a verification system creates transformative opportunities for in-game assets and tokenization. Moonbeam’s cross-chain potential also frees developers and project founders from being trapped in any one blockchain ecosystem. Assets can flow freely between chains, promoting greater usability.
Evrloot, live on Moonbeam, is a fantasy-oriented RPG game with deep NFT integration. Players can trade in-game assets that have real-world value through crafting mechanics and an NFT marketplace integrated into the game. Evrloot also focuses extensively on UI and design while constantly adding new features to the game. Other offerings include Moonscape, Playtge, and the multichain Blockchain Monster Hunt.
Game developers on Moonbeam can leverage MetaFab’s free, self-serve API and SDKs to integrate robust blockchain features without any Web3 expertise quickly. MetaFab is a development framework handling blockchain intricacies behind the scenes, allowing developers to focus on game design and user experience. Players can enjoy ownership of in-game NFT assets with minimal friction through innovations like gasless transactions and secure, keyless wallet interactions. By abstracting complexity, MetaFab provides an easy on-ramp for developers to harness the benefits of blockchain gaming. Read more on Moonbeam’s Metafab documentation.
At the Moonbeam Foundation, we are enthusiastic about Web3 gaming and the projects coming to the ecosystem. We are working with numerous global partners, from entertainment platforms to blockchain-based games, to enhance Moonbeam’s Gaming scene. Stay tuned for new releases!
Real World Assets (RWA) – Unlocking the Global Economy
The RWA market could grow as high as $10 trillion. Through strategically selected partnerships like Centrifuge and Transfero, Moonbeam is progressing towards unlocking the global economy on-chain. Tokenization unlocks accessibility, liquidity, and automation across countless assets, and we are just beginning to tap its disruptive potential.
Transfero Group is building fintech solutions for the Brazilian economy, including tokenized assets like BRZ, a stablecoin pegged to the Brazilian Real that recently launched on Moonbeam. Transfero also provides a regulated on-ramp for accessing DeFi and broader crypto solutions, an international debit card, OTC trading, and educational resources, making crypto easily accessible to the Brazilian population.
Earlier this year, Moonbeam also announced an XCM integration with Centrifuge, a platform for tokenizing real-world assets like invoices and trade receivables as non-fungible tokens (NFTs) that are tradable on-chain. Centrifuge’s NFTs represent fractional ownership in assets, enhancing asset availability and collateral. The potential of this partnership has us excited to see what new opportunities it may unlock moving forward.
Emerging Regions – Enhancing Solutions for Emerging Economies
Brazil is one of the fastest-growing crypto economies globally, ranked 9th in the 2023 Global Crypto Adoption Index Top 20 by Chainalysis. Almost a quarter of Brazil’s population owned or used cryptocurrencies during 2022, a figure that has risen in 2023.
With surging crypto adoption in Brazil, the Moonbeam Foundation is eager to support solutions like the Transfero partnership that target the local and national communities. While Web3 can solve problems for people worldwide, local solutions tailored to local problems can accelerate Web3’s adoption curve.
The Transfero collaboration is the first of many upcoming global partnerships, positioning Moonbeam as the premier hub for regional crypto innovation. We are also making efforts in other regions, such as APAC, and we can’t wait to see the impact it will have on the Moonbeam community.
Conclusion
By identifying high-impact use cases and supporting projects building within those verticals, the Moonbeam Foundation aims to facilitate real-world traction that solves actual problems and creates real use cases. Developers building on Moonbeam in these verticals get a premium foundation with tooling, frameworks, and documentation to lead Web3 adoption beyond speculation toward utility and accessibility for all.
You can also apply for a grant to get direct support from the Moonbeam Foundation. Even if your project falls outside the four use cases mentioned above, we’re still eager to see what you’re building.
Join us in realizing Web3’s true potential.
Please note that information related to claims, content, designs, algorithms, estimates and instructions in this blog post are provided for informational purposes only and nothing in this blog should constitute a solicitation for investment. Furthermore, certain information contained in this blog has been provided by third parties or otherwise reference third party products and services and is made available solely for general informational purposes and does not constitute an endorsement of any third party product or service.
