Ethos Wallet, a product for users to access digital assets and decentralized applications, today announced a seed round of $4.2 million led Boldstart Ventures and gumi Cryptos Capital (gCC) with additional participation from Mysten Labs, Tribe Capital, Matrixport, Charge Ventures, Builder Capital, Alliance DAO, Meltem Demirors and others. The company plans to use the funds to increase headcount, continue the development of its wallet, developer infrastructure and apps, and expand capabilities outside of traditional wallet functionality.
Ethos, co-founded by Nadia Eldeib (CEO) and Jared Cosulich (CTO), was the first application live on the Sui developer network. Sui is a layer 1 blockchain built by Mysten Labs, a team previously from Facebook’s Diem team who raised over $300M in funding. Ethos was founded on the core principle of providing users an easy-to-use and secure wallet to not only store and trade crypto, but also discover and experience other applications on the Sui blockchain. The company’s technology will also make it easier for developers to build decentralized applications on the Sui blockchain.
The Sui blockchain and the smart contract language Sui Move have advanced the technological capabilities for the blockchain developer community. The future of apps is undergoing a revolution where new, consumer-friendly and creative use cases and applications can now exist, and will be built by established consumer brands and web3 pioneers alike. Ethos is working to make this future, where apps and wallet are integrated, experiential and interconnected, possible.
In addition to its crypto wallet, the company has built and launched the first fully on-chain game on the Sui blockchain’s developer network, called Sui 8192, as well recently releasing on-chain chess and checkers games. These games are interactive and dynamic NFTs, which are also integrated and can be played directly in the Ethos wallet explorer. Sui 8192 has become one of the most popular applications on the Sui developer network, with an average of over 100,000 transactions per day.
Sui 8192 is an NFT in itself with every move recorded on-chain. 8192 is an example of how decentralized applications will evolve on Sui. The game can be discovered through the Ethos Wallet. The wallet is a place that features discoverability for games and experiences on the Sui blockchain. In addition to the wallet, you can safely pre-approve batch transactions with the Ethos Chrome extension wallet for the fastest Sui 8192 game experience, which is a capability exclusive to sui.
CEO and Co-Founder, Nadia Eldeib commented on today’s news, “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.”
For developers looking to build applications on the Sui blockchain using the EthosConnect kit to connect to Ethos and other Sui wallets, onboard walletless users with email, get the starter app and documentation, visit here, visit here.
Ed Sim, founder and General Partner, boldstart ventures – “One of the gating factors for adoption of decentralized applications has been a lack of powerful developer tooling for builders and ease of use, security, and discovery for end users. We’re thrilled to back Nadia and Jared as Ethos Wallet will unleash a whole new class of dApp users with APIs for developers to easily build reimagined wallets with the ease of use of any web application.”
Miko Matsumura, Managing Partner at gumi Cryptos Capital – “We look for something we call gumicorn founders. This type of person has ultra-high conviction and world-class product skills needed to thrive in a bear market. Nadia Eldeib is one of those people.”
Adeniyi Abiodun, Mysten Labs Co-Founder and CPO – “It is rare to see fundamental advancements in functionality in crypto, and we believe Ethos represents just that with wallets. Partnering with the Ethos team to build user-friendly and experience-oriented infrastructure for developers and consumers in the Sui ecosystem is exceptionally exciting, and we look forward to building together.”
Ethos is a wallet reimagined as a home base for users on the Sui blockchain. The mission of Ethos is to provide web3 users a simple and integrated experience to store digital assets, and discover and engage with decentralized applications.
How Ethos Works
To get started, download the Ethos Wallet Chrome extension (or in the future, mobile application). After you create an account, you can start exploring applications, NFTs, and projects.