Building Web3 - Why a Meta team left to found Mysten Labs

Evan Cheng is co-founder at Mysten Labs. Mysten is building the foundational infrastructure to accelerate Web 3.0 adoption. The founding team recently left their positions at Facebook (Meta), where they developed Diem, Novi – Facebook's digital wallet, as well as highly composable blockchain language, Move.

It's early, but Web3 has arrived. Innovators are reimagining new kinds of products, services, and business models. The opportunities to leverage programmable assets and open, decentralized infrastructure are endless. But first, infrastructures must get out of the way, and developer tooling needs to be modernized. Mysten Labs is built to accelerate the adoption of web3.

Under the assertion that true asset self-sovereignty will be the foundation of economics in the Metaverse, Mysten plans to unveil a new blockchain design allowing users to move NFTs across digital worlds while maintaining their functionality and history.

In December, they drew $36M in funding from a16z and Coinbase Ventures.

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