Aptos Rakes In $150 Million From FTX Ventures And Others To Boost Web3 Adoption

Blockchain firm Aptos has raised $150 million in a new funding round in which FTX Ventures, the venture arm of crypto exchange FTX, and Jump Crypto, a division of the Jump Trading Group, participated.

According to an announcement from Aptos on Monday, new investors, including Griffin Gaming Partners, Franklin Templeton, Circle Ventures and Superscrypt also participated in the Series A funding round.

Existing investors venture capital firm a16z and investment firm Multicoin also contributed and supported Aptos as it aims to "ship a safe, scalable and reliable foundation for web3 and create performant and upgradable blockchain that fuels our rapidly evolving ecosystem."

The announcement comes when the crypto industry is witnessing a slump in trade activities and investors' reluctance. However, Aptos was founded in 2021, and in the seven months of its existence, the firm revealed that it has "hosted hackathons, reached 20,000 operational devnet nodes, launched incentivized testnets and raised total funding of $350 million to strengthen this evolving community."

"Thank you to all of our partners, who instantly recognized the second-to-none talent, technical excellence and executional capabilities of our team. We look forward to growing the Aptos team, product suite and community with this funding," the firm said while thanking the investors.

Interestingly, FTX Ventures also participated in Aptos' funding round in March when it raised $200 million from investors like a16z, Tiger Global and Multicoin Capital. The now-bankrupt crypto hedge fund Three Arrows Capital (3AC) also participated in that funding round.

Including the two funding rounds, the firm has now raised $350 million in 2022 and will expand into gaming, social networks, media, entertainment and finance.