APTOS Labs

According to a press release, Aptos raises $150 million.  FTX Ventures, the venture capital arm of crypto exchange FTX and Jump Crypto, led a $150 million Series A fundraising round. Aptos Labs is comprised of former employees from Facebook parent Meta Platforms.

Meta Platforms is one of the most powerful IT firms to have entered the Web 3.0 market in the past and present. By throwing everything into the developing market, it has attempted to become a leader in several technologies. One such initiative that the company has led is the Diem stablecoin.

Throw Everything against the Wall and See What Sticks

Meta has had mixed success with their “throw everything against the wall and see what sticks” approach to Web 3.0 development. Horizon Worlds, the company’s metaverse experience, is one of its most successful projects, while other projects, such as Diem, were less successful. In the face of intense regulatory scrutiny, Diem, Meta’s cryptocurrency branch, formally ended its stablecoin project in January.

Aptos Labs confirmed in February that it was working to resurrect the Diem blockchain to create the “safest and most production-ready blockchain in the world.” Aptos Labs is attempting to revive the currency and give it another chance after Meta’s efforts failed and many related assets were sold.

Aptos Labs Raises $150M for Diem Revival

Developers Mo Shaikh and Avery Ching created the Novi wallet. However, the two were hesitant to abandon the project’s goals after observing Meta Platforms preparing to wind down Novi and Diem. After leaving Meta, Shaikh and Ching founded Aptos Labs. They want to relaunch the Diem project.

Aptos Labs is a Web3 company founded in 2021. The company’s headquarters are in Palo Alto, California, and it develops scalable Layer 1 blockchains. The company is creating a blockchain using the Move programming language, which also supports the Diem blockchain and promises to speed up and lower transaction costs.

How Aptos is Different from Meta’s Diem Project?

Aptos differs from Meta’s Diem project for several reasons. Most notably, whereas Diem was a non-blockchain initiative, Aptos is building a layer-1 blockchain network on which its currency will be based. However, the two believe that they can create a project similar to Diem that is far more regulator-friendly if they have access to the source code. With Meta’s blessing, the two creators have begun their journey to bring it about.

Aptos Labs is also doing well in raising funds for its initiative. In March, A16z and Tiger Global led the company’s $200 million funding round. This week, the company will announce the completion of another significant investment round. The most recent round of funding, led by FTX Ventures and Jump Crypto, raised an additional $150 million. Aptos plans to use the funds to expand the Diem initiative.

The funds will undoubtedly help Aptos accelerate the growth of the Diem revival. The co-founders are battling fellow businesswoman Shari Glazer in a $1 billion legal battle. Glazer claims she co-founded Aptos with Shaikh, not Ching. The lawsuit will be the primary impediment to the company’s launch of Diem, which will take place in May.

Battle Infinity Presale Raises $1.1 Million (4548 BNB) 

Battle Infinity is doing extremely well in the fundraising race to gain investors’ attention.  In less than two weeks, Battle Infinity has raised $1.1 million in IBAT at the presale. The soft cap for the crypto presale for its native utility token IBAT was 2000 BNB, while 4548 BNB has already been raised. 

However, you can still participate in the presale until the hard cap of 16500 BNB is reached.

All you need is to follow a few simple steps. you can Buy Battle Infinity (IBAT) by connecting to the presale.battleinfinity.io website with Binance Coin loaded in a MetaMask or Trust Wallet.  

More information regarding the Battle Infinity NFT (non-fungible token) games platform can be found in the whitepaper, roadmap, and on battleinfinity.io

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