In a seed round, Ethos raised $4.2 million to fund the ongoing development of their redesigned wallet, which focuses on finding and interacting with apps on the Sui blockchain, as well as the infrastructure for the wallet.
About Seed Round
Ethos Wallet recently raised $4.2 million in a seed round led by Boldstart Ventures and gumi Cryptos Capital (gCC). Mysten Labs, Tribe Capital, Matrixport, Charge Ventures, Builder Capital, Alliance DAO, Meltem Demirors, and many other investors participated in the seed round.
The company plans to use the money to hire more staff, continue to improve its wallet, developer infrastructure, and applications, and develop capabilities beyond the scope of traditional wallet functions.
Ethos and Sui Blockchain
The first application to go live on the Sui developer network was Ethos, which was co-founded by Nadia Eldeib (CEO) and Jared Cosulich (CTO). Mysten Labs, a group that was formerly part of Facebook’s Diem team and garnered over $300M in funding, created the layer 1 blockchain known as Sui.
Ethos was established on the fundamental tenet that consumers should have access to a simple, safe wallet that allows them to store and trade cryptocurrency as well as learn about and utilize other Sui blockchain applications. Additionally, using the company’s technology will make it simpler for programmers to create decentralized applications for the Sui blockchain.
The Sui blockchain and the Sui Move smart contract language have improved the technological capabilities of the blockchain developer community. New, user-friendly, and inventive use cases and applications are now possible in the future of apps, and both web3 innovators and well-known consumer brands will be building them. With integrated, immersive, and networked apps and wallets, Ethos is aiming to make this vision a reality.
“When we first set our sights on developing a wallet on the Sui blockchain, it became our mission to evolve what a crypto wallet is. Currently, they are viewed as a place to store crypto assets, however, they have the capability to do much more. With Ethos, we’re working on developing, discovering and interacting with blockchain-based applications and to make those interactions safer and easier to use. We are excited for the future of Ethos and to continue working with the Mysten Labs team to grow the ecosystem in advance of the Mainnet launch.”
Nadia Eldeib
About Ethos
It is a wallet that has been redesigned to serve as a user’s hub on the Sui blockchain. The wallet’s goal is to give web3 users an easy-to-use, integrated experience for storing digital assets as well as for discovering and interacting with decentralized applications.
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