CEO of Kalos Labs, Shari Glazer, recently sued Aptos Lab CEO Mohammad Shaikh, who was deprived of her fair share of equity in the new firm. After many discussions, now Glazer said the case was resolved. She was one of the top investors with significant knowledge of the blockchain and crypto industry.
Shari Glazer stated, “I am happy to resolve this matter and am delighted to devote my time to new web3 projects and charitable endeavors moving forward.”
As per the filing, the action was recorded out of a fraudulent scheme by Mohammad Shaikh to deprive Shari Glazer of her rightful share of a partnership in a blockchain technology venture. In October 2022, Justice Jennifer denied Mo Shaikh’s motion to dismiss a lawsuit that Glazer filed. Aptos labs were founded by former Meta employees Mo Shaikh and Avery Ching.
Mohammad Shaikh founded Aptos lab to develop a scalable Layer-1 blockchain. On October 17, the layer-1 blockchain Apto (APT) launched its mainnet on the platform. Aptos labs recently decided to develop applications on the Apto blockchain to redefine the Web3 user experience.
Aptos Entity Is Trying To Increase The Connections
Recently Aptos collaborated with one of the largest blockchain infrastructure providers, Binance, to provide 50,000 APT tokens to nearly 5000 users across the platform. Last month Aptos provided more than 20,076,150 APT tokens to 110,235 participants.
Currently, Aptos is working on eight projects that mainly focus on bringing real value to the user assets. At the end of November, Aptos lab started hiring former Solana staff to develop the protocol fundamentals on the platform. Recently Aptos partnered with Korean-based Triple-A gaming studio Npixel. Aptos and Npixel will release Metapixel, a web 3 gaming platform to bring real ownership of game assets.
Aptos And Livepeer
The good news for content creators, Livepeer, a decentralized video streaming network, partnered with Aptos to maintain the quality of video streaming. This partnership provides the creators with low-fee content ownership and made easy-to-use.
The CEO of Aptos Labs, Mo Shaikh, stated, “it has never been more important to support the transition of power back to creators, and we are happy that Aptos can provide the architecture for this shift.”
“As the Livepeer network continues to grow, it’s important developers building in ecosystems like Aptos can integrate rich video experiences like live streaming and video NFTs into their projects. Partners with the shared goal of developer growth like Aptos are key to expanding Web3,” Shaikh added.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/12/09/aptos-lab-filing-was-resolved-ceo-of-kalos-labs-says/