Aptos declined to disclose a specific valuation, but stated it is “way off into unicorn territory” of around $1 billion. In a funding round Aptos raises $200 million. The funds will be used to hire more people and support “companies, brands, and builders” that wish to develop projects on the Aptos blockchain, with the company indicating that several DeFi, NFT, Web3, social media, and payment efforts are already in the works.
“Aptos” makes use of Moves, a reliable and secure programming language that was originally created for Diem. The concepts we developed back then are still applicable and will form the foundation for a secure, scalable, and upgradeable Web3. “Our plans for decentralisation and permissionless access are moving forward swiftly and will be established in the open,” according to the post.
Former Novi — Meta’s crypto unit — strategic partnerships leader Mou Shaikh and tech leader Avery Ching co founded Aptos. The two are now the CEO and CTO of the new company. Both left Diem in December, just before the company was sold to Silvergate Capital in February of this year.
The team is developing a decentralised Layer 1 blockchain based in part on Move, the coding language created for Diem. The business is currently working to expand its developer community and entice projects to the blockchain, which it claims will be a low-cost, secure, and scalable network.