Movement Labs at ETH Denver.
Movement Labs at ETH Denver.
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Movement Labs gets $160M commitment for blockchain mainnet

  • Posted byby Dean Takahashi
  • Updated
  • 6 min

Movement Labs, the builder of a new blockchain network that takes advantage of the Move smart contract language, has announced that six leading Web3 projects have deployed on its testnet with $160 million in total value locked (TVL) committed to its Mainnet.

It basically means that projects with a lot of financial backing have begun testing on Movement Labs’ blockchain and are working toward its official launch of its Mainnet. The $160 million is a reference to the amount of capital at risk in projects that are committed to the ecosystem. Movement Labs itself has raised $41.4 million across two rounds.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.