News

Ethos Wallet Raises $4.2M in Seed Round

Published

1 year ago

January 30, 2023

Ethos Wallet, a decentralized wallet native to the Sui, a Layer 1 Blockchain built by Mysten Labs, which integrates with decentralized apps dapps), has raised $4.2 million in a seed funding round led by Boldstart ventures and gumi Cryptos Capital.

According to the press release published on Thursday 16th January 2023, the funds will be used for hiring, continued development of the wallet and infrastructure, and expanding the product beyond traditional wallet capabilities.

Other investors in the round included Mysten Labs, Tribe Capital, Matrixport, Charge Ventures, Builder Capital, Alliance DAO, and Meltem Demirors, who is the chief strategy officer at digital-asset investment firm CoinShares, among others.

Ethos Wallet, which is co-founded by CEO Nadia Eldeib and Chief Technology Officer Jared Cosulich, was the first decentralized app to go live on the developer network on Sui Blockchain.

The wallet can store and trade crypto and help discover and build dapps in the Sui ecosystem. The Ethos Wallet team has also launched the on-chain game Sui 8192, as well as chess and checkers games backed by non-fungible tokens (NFTs). The games can be played directly in the wallet.

“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,” Eldeib said in the press release. “With Ethos, we’re working on developing, discovering, and interacting with blockchain-based applications and to make those interactions safer and easier to use.”