Growth factor of the TGF-beta superfamily that plays an essential role in developmental process by inducing and patterning early skeletal formation and by negatively regulating bone density. Antagonizes the ability of certain osteogenic BMPs to induce osteoprogenitor differentiation and ossification (PubMed:11138004, PubMed:15269709). Initiates signaling cascades by associating with type II receptor ACVR2B to activate SMAD2-dependent and SMAD-independent signaling cascades including TAK1 and JNK pathways (PubMed:31665064). {ECO:0000269|PubMed:11138004, ECO:0000269|PubMed:15269709, ECO:0000269|PubMed:31665064}. This is the function of Ensembl gene identifier ENSG00000152785 (BMP3, bone morphogenetic protein 3).