The funding will be used to accelerate product development, enhance liquidity and support the advancement of Aptos' scalable and upgradeable Layer1 blockchain infrastructure, according to a press release.
Aptos CTO Avery Ching noted that the partnership will help expand the blockchain's presence in the Asia-Pacific region while promoting the development and innovation of web3 applications. "This collaboration will strengthen Aptos’ presence and resource allocation in the Asia-Pacific region, helping to realize our shared vision of creating broader web3 use cases, and further positioning Aptos as the core infrastructure for the next wave of web3 adoption," Ching said.
Foresight Ventures CEO Forest Bai echoed this vision, emphasizing both organizations’ commitment to building practical, user-friendly blockchain solutions aimed at advancing web3 adoption. Bai, who is The Block's Chairman, added that the investment marks the Foresight Ventures' initial step in supporting the Aptos ecosystem, with plans to allocate additional resources alongside ecosystem partners like Bitget.
"Aptos, with its high-performance infrastructure, innovations such as Block-STM, and the mature interoperability of the Move ecosystem, has built a robust, developer-centric ecosystem," Bai added. He emphasized that Foresight Ventures' investment would help unlock new markets while demonstrating their shared commitment to creating accessible blockchain solutions.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
