Aptos Secures $150M From FTX Ventures, Jump Crypto, And Others

  • Blockchain and Web 3.0 firm Aptos, formed by former Meta employees, has raised $150 million in a new funding round
  • FTX Ventures and Jump Crypto were among the firms that participated in the new funding round

Web3 company Aptos has recently announced that it has raised $150 million in a funding round led by FTX Ventures and Jump Crypto.

The round also saw participation from several big names, including Apollo, Circle Ventures, Griffin Gaming Partners, Franklin Templeton, Temasek-founded Superscrypt, and the continued support from 16z and Multicoin.

As per the announcement, Aptos believes that this funding comes at a “critical time.” The company takes the opportunity to create a reliable foundation for Web3. It will deploy the new capital to elevate the “usability and socialization” of the sector.

“We are working with our strategic partners to identify consumer needs and address them by shipping the most performant and upgradable blockchain technology.”

It stated.

Aptos team gratefully acknowledges the strategic support of the funding round across several verticals of its blockchain: gaming, social networks, finance, and media & entertainment.

Founded in 2021, Aptos’ layer-1 blockchain focuses on scalability and financial inclusion. The company has raised $350 million in total, with the network accumulating 20,000 operational nodes now.

During a time when crypto lenders like Celsius and Voyager are facing serious liquidity crises, Sma Bankman-Fried’s FTX and Alameda are reaching out to such institutions to provide funding and support.

SBF has stressed that his spending does not always aim to make a personal or corporate profit. In June, he stated, “I do feel like we have a responsibility to seriously consider stepping in, even if it is at a loss to ourselves, to stem contagion.”

Recently, he stated that FTX has a “few billion” in its hands to support the struggling firms that could destabilize the crypto winter market.

Web3, the nickname for the next generation of internet applications built on top of blockchain technology using smart contracts, has been getting immensely popular among companies. The most recent example is global investment management company SkyBridge Capital, which is reportedly planning to roll out a Web3-focused fund in September 2022.

Moreover, this year also witnessed one of the biggest Web3-focused funds launched by crypto exchange giant Binance. In June, Binance Labs launched a $500 million investment fund in parallel with its efforts to bolster its Web3 engagements. The fund aims to back up crypto startups building solutions to promote or enhance mainstream blockchain adoption.

Parth Dubey Verified

A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.

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