Team Bringing Diem Blockchain to Life Confirms $200M Raise, Says Coinbase and More Are Building on Devnet

Team Bringing Diem Blockchain to Life Confirms $200M Raise, Says Coinbase and More Are Building on Devnet
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Team Bringing Diem Blockchain to Life Confirms $200M Raise, Says Coinbase and More Are Building on Devnet

Aptos, a team helmed by former Facebook coders, announced a $200 million funding round Tuesday, confirming an earlier CoinDesk scoop.

The round was led by Andreessen Horowitz (a16z) with Multicoin Capital, 3 Arrows Capital, Tiger Küresel, FTX Ventures, Coinbase Ventures and more also signing checks.

Aptos is among a handful of teams looking to bring the Diem (formerly Libra) blockchain to life outside of the watchful eye of Meta (formerly Facebook). 0L is another project similarly looking to revive Diem, in part through its Carpe app.

In a second Aptos blog post on Tuesday, the team sketched out some of its blockchain’s tech specs.

Notably, Aptos said its devnet, meant for coders to contribute open-source code, is now live – with developers at big-name crypto firms offering their time.

“There are great companies like Anchorage, Binance, Blockorus, Coinbase, Livepeer, Moonclave, Paxos, Paymagic, Rarible and Streaming Fast in our community already giving feedback, and contributing code on Devnet,” Aptos wrote.

The startup ID’d “next-gen social media platforms, rich NFT experiences, Web3 games, creator-first media and entertainment businesses, cheap and secure payments, DeFi-integrated fintech products, and so much more,” as potential applications to live on Aptos.

Read more: Ex-Meta Coders Raising $200M to Bring Diem Blockchain to Life: Sources

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