The Stellar Development Foundation will invest $100 million to get developers to make apps for its platform.
The Stellar Development Foundation will invest $100 million to get developers to make apps for its platform.
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Stellar will invest $100M in Soroban smart contract apps in bid to beat Ethereum

  • Posted byby Dean Takahashi
  • Updated
  • 3 min

Stellar is a blockchain that is trying to beat Ethereum. And so the Stellar Development Foundation will invest $100 million to get developers to make apps for its platform.

The foundation is launching the Soroban Smart Contracts Platform, which gives Stellar a better footing to compete with Ethereum. In the past, it handled just payments in cryptocurrency. But now it has a smart contracts platform that developers — including game makers — can use to create blockchain apps such as non-fungible tokens (NFTs), games and decentralized finance (DeFi) apps.

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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.