Overview
Mysten Labs is a pioneering crypto and blockchain infrastructure technology company established in September 2021 by four former Facebook engineers: Evan Cheng, Sam Blackshear, Adeniyi Abiodun, and George Danezis. These co-founders collaborated at Facebook's Novi financial products unit before launching their venture. Evan Cheng, Mysten's CEO and former Novi R&D director, leads the team in redefining Web3 infrastructure.
Unlike traditional tech companies, Mysten Labs adopts a unique token-based revenue model. Instead of charging for services, the company holds tokens from partner blockchains, benefiting from their appreciation. As Cheng explained in a CNBC interview:
"Our partners gain access to cutting-edge technology while we become co-owners in their network. This symbiotic relationship lets us reclaim network shares—a dream partnership we've long envisioned."
Funding and Growth
In a significant Series A round led by Andreessen Horowitz (a16z), Mysten Labs secured $36 million to accelerate infrastructure development for crypto and blockchain enterprises. The funding round included prominent investors:
- Redpoint Ventures
- Lightspeed Venture Partners
- Coinbase Ventures
- Electric Capital
- Standard Crypto
- Samsung NEXT
- Hack VC
This capital injection supports Mysten's mission to overcome scalability limitations and drive Web3 adoption through innovative technologies.
Core Technologies and Platform
Mysten Labs deploys projects through two primary channels:
- Network Partnerships: Integrating Mysten's technology into existing blockchains
- Native Platforms: Building solutions using Mysten-designed components
Key Projects:
Narwhal: Solving Web3 Scalability
- Advanced mempool addressing Web3 adoption bottlenecks
- Compatible with various BFT consensus protocols
- Enhances transaction throughput without compromising security
Move Programming Language
- Secure, cross-platform language for Web3 development
- Enables shared contracts and tools across diverse ledgers
- Originally created for Diem (formerly Libra)
NFT Platform for the Metaverse
- Focused on NFT ownership and programmability models
- Supports high transaction volumes with near real-time finality
- Features horizontal scaling and Move-powered smart contracts
👉 Explore how Mysten's technology powers next-gen blockchain applications
Strategic Partnerships
Sommelier Collaboration (September 2021)
- Enhances Ethereum Virtual Machine (EVM) co-processing
- Accelerates liquidity transactions on Cosmos blockchain
- Enables advanced DeFi smart contracts
Celo Alliance
- Multi-year partnership to boost transaction speeds
- Integrates Move smart contracts into Celo ecosystem
- Empowers developers to create audit-free dApps
The Future of Mysten Labs
With its 2022 platform launch, Mysten Labs is positioned to:
- Deliver thousands of transactions per second
- Provide horizontally scalable storage solutions
- Establish Move as the standard for cross-chain development
👉 Discover how Mysten Labs is shaping Web3 infrastructure
Frequently Asked Questions
What makes Mysten Labs different from other blockchain companies?
Mysten Labs focuses on infrastructure development rather than end-user products, using a token-based model instead of traditional service fees. Their team brings unique Facebook/Novi experience in financial systems.
How does the Move programming language benefit developers?
Move allows secure cross-platform development with shared tooling across different blockchains, reducing fragmentation in Web3 ecosystems.
What scalability solutions does Narwhal provide?
Narwhal's mempool design addresses throughput limitations while maintaining compatibility with various consensus protocols, enabling higher transaction capacity.
Why partner with existing blockchains instead of building new ones?
Mysten's partnership approach accelerates adoption by enhancing established networks rather than competing with them—creating value for both parties.
How will Mysten's NFT platform impact the Metaverse?
By focusing on ownership models and programmability, Mysten enables more sophisticated digital asset interactions in virtual worlds.
What's next for Mysten Labs?
The company plans to launch its mainnet platform, further develop Move adoption, and expand partnerships to bring enterprise-grade infrastructure to Web3.