Ethos Wallet, Based on Sui Blockchain Raised $4.2M In Seed Round Led By Boldstart Ventures

admin — Fri, 27 Jan 2023 23:49:52 +0000

Ethos Wallet, based on the Sui blockchain, reveals a $4.2 million seed round led by Boldstart Ventures and Gumi Cryptos Capital. The round for the Ethos wallet also featured participation from Tribe Capital, Matrix Port, and AllianceDAO. Notably, Mysten Labs, the creator of Sui, also contributed to the round. Mysten is led by founder and CEO Evan Cheng, who was head of research at Meta’s crypto wallet Novi Financial.

In July, Ethos, a consumer-focused crypto wallet, became the first application to go live on the Sui developer network. Developer networks, or Devnets, let developers build and experiment with projects without the higher stakes of using live cryptocurrencies.

Sui founder and CEO, Nadia Eldeib, stated in a press release:

“Even compared to Move as used by other blockchains, Sui Move is significantly easier to read and reason about. This is important because it means it is easier for developers to build creatively and iteratively, and do more while writing less code.”

Mysten Labs Raised $300 Million Valuing The Company At Over $2 Billion

admin — Thu, 15 Sep 2022 00:55:09 +0000

Mysten Labs raises $300 million which values the business at more than $2 billion. FTX Ventures led the Series B round. Other participants included a16z crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, Lightspeed Venture Partners, Sino Global, Dentsu Ventures, Greenoaks Capital and O’Leary Ventures.

Mysten Labs is a California-based web3 infrastructure company that launched the decentralized blockchain platform Sui in March of this year, 2022. Evan Cheng, currently Mysten Labs CEO, said they are hoping to “build a better blockchain” to improve scalability. Evan Cheng has spent the last 16 years at tech companies such as Apple and Facebook.

Sui’s use cases include facilitating airdrops to millions of people in a single, low-cost transaction; creator-owned decentralized social media networks; and developing blockchain gaming interactions such as equipment crafting, character leveling and battle records stored on-chain. A token, $SUI, is also planned, which will be used to participate in the proof-of-stake network after mainnet launch, at an unknown future date.

evan cheng – RE3W.IO

Ethos Wallet, Based on Sui Blockchain Raised $4.2M In Seed Round Led By Boldstart Ventures

Mysten Labs Raised $300 Million Valuing The Company At Over $2 Billion