Web3 Infrastructure Startup Mysten Labs Launches Layer 1 Blockchain Network Sui

Mysten Labs, a Web3 infrastructure startup founded by four former Meta engineers, announced the launch of its first product, a Layer 1 blockchain network called Sui. Mysten Labs has launched a public software development kit for Sui and is showing a demo version to developers. The blockchain's test network is expected to launch in the coming months, with its mainnet to be launched later this year, along with a native token. Previously, Mysten Labs closed a $36 million funding round led by a16z in December last year.