Movement Labs Becomes Part of the Eterna Capital Portfolio
We are excited to officially announce our recent investment into Movement Labs.
OFFICIAL ANNOUNCEMENT here.
Movement Labs is a network of modular Move-based blockchains designed to combine performance with liquidity and composability.
We have been proud supporters of Movement Labs since late last year, and we are thrilled to announce their $38m Series A round led by Polychain with participation from Hack VC, Placeholder, Archetype, Robot Ventures, OKX Ventures and others.
To address concerns surrounding popular smart contract languages like Solidity, the Move language was developed. Originally created for Meta’s Libra blockchain, Move is a Rust-inspired programming language designed specifically for smart contract development. It is seen as Solidity’s strongest competitor (the Ethereum Smart Contract Programming Language) and was built with safety as a core principle. Layer 1s, Aptos and Sui, have natively integrated versions of the Move language to allow for fast and secure execution.
While Move has immense potential for various reasons, it is not currently where the most liquidity and volume exist, which is Ethereum. Movement Labs is pioneering a simple yet powerful idea: making the Move programming language accessible and available across Ethereum and the entire modular blockchain ecosystem. In doing so, Movement Labs is tackling some of the most pressing challenges facing the industry today, including smart contract vulnerabilities, scalability limitations, and fragmented liquidity. By bringing the Move Virtual Machine (MoveVM) to Ethereum through their innovative MEVM (Move + EVM) Zero-Knowledge Layer 2 solution, Movement Labs is poised to unlock a new era of secure, high-performance blockchain applications.
The team is pioneering the “Integrated Execution” approach, which seamlessly combines the best aspects of modular and monolithic architectures. This unique model enables developers to build and deploy smart contracts with the security and flexibility of Move, while still leveraging the liquidity and network effects of the Ethereum ecosystem.
Furthermore, the Move programming language and Movement SDK enable developers to build secure, EVM-compatible smart contracts without writing Move code directly. It provides developer-friendly features, such as support for multiple programming languages and formal verification, empowers developers with increased agency and the ability to build without barriers. In addition, the Move-EVM bytecode interpreter prevents vulnerabilities like re-entrancy at runtime, setting a new standard for smart contract safety. Finally, Movement’s ZK-rollup architecture brings massive scalability to Ethereum, targeting 30,000+ TPS while maintaining EVM compatibility.
Movement Labs has been hyper-focused on its commitment to fostering ecosystem synergy. Rather than contributing to the fragmentation of the Layer 2 landscape, they are actively working with other leading projects to establish a unified framework that benefits all networks. They have already secured partnerships with the likes of NEAR, Avail, Celestia, Ultiverse, Hyperlane, among others.
With our investment, we are pleased to be part of Movement Labs’ mission to make blockchain technology more secure, scalable, and accessible.
About Movement Labs
Movement Labs is a pioneering blockchain development company born from a simple yet powerful idea: making the Move programming language accessible and available across the entire modular blockchain ecosystem. By bringing the Move Virtual Machine (MoveVM) to Ethereum through their innovative MEVM (Move + EVM) Zero-Knowledge Layer 2 solution, Movement Labs is creating a secure, scalable, and developer-friendly blockchain infrastructure that combines the best aspects of modular and monolithic architectures.
For more information, visit https://movementlabs.xyz/ or follow them on Twitter.
About Eterna Capital
Eterna Capital is an investment company focused on blockchain technology. Eterna Capital supports entrepreneurs that envision bold innovative ideas, and have the plan in place to make them happen. Eterna Capital is committed to help them reach their ambitious goals by providing unique insights and support.
For more information, visit www.eternacapital.com or follow us on LinkedIn and Twitter.
Disclaimer: This post is for general information purposes only. It does not constitute investment advice or a recommendation or solicitation to buy or sell any investment and should not be used in the evaluation of the merits of making any investment decision. It should not be relied upon for accounting, legal or tax advice, or investment recommendations. This post reflects the current opinions of the authors and does not necessarily reflect the opinions of Eterna Capital, its affiliates, or individuals associated with Eterna Capital. The opinions reflected herein are subject to change without being updated.
