Does Aptos crypto exist? Why is it gaining traction?

Image Source: © Sasha85ru | Megapixl.com

Highlights

  • Aptos was established in 2021 and the startup's founders are ex-Meta employees.
  • Aptos is a layer-1 blockchain with an emphasis on scalability and financial inclusion.
  • The previous seven months have seen Aptos host hackathons.

Web3 startup Aptos announced raising US$ 150 million in a funding round led by FTX Ventures and Jump Crypto on Monday, July 25. The startup is expected to use its new funding to improve the decentralized web's "usability and socializing."

The fundraising round included participation from numerous new partners, including Apollo, Franklin Templeton, and Superscrypt, as described in a blog post from Aptos. Additionally, Multicoin and a16z, two of the top venture capital firms investing in cryptocurrencies, continued to promote it.

Web3 refers to the upcoming class of web apps being created on top of smart contracts and blockchain technology. Theoretically, Web3 apps combine the early internet's decentralization with Web2's functionality, which is currently dominated by digital behemoths like Google and Facebook.


 


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