Aptos Labs CEO Says NFTs Will Push Boundaries of Previous Generation Blockchains

Mohammad Shaikh, co-founder of the layer 1 blockchain, predicts NFTs will be used as a means of payment and will also go mainstream via big brand partnerships.

Non-fungible tokens (NFT) have the potential to be about more than just collectibles, Mohammad Shaikh, co-founder of layer 1 blockchain Aptos Labs, told CoinDesk

TV’s “First Mover” on Friday.

“The way we think about NFTs is pushing the boundaries of what we’ve seen in previous generation blockchains,” Shaikh said. In the past, “you couldn’t really take them [NFTs] across different protocols [and] platforms,” he said.

Earlier this week, Aptos’ token, APT, surged to an all-time high, reaching a peak

Bitcoin mining revenue jumps up 50% to $23M in one month

As Bitcoin remains well-positioned for a steady recovery, the mining industry witnessed a 50% growth in revenue in terms of U.S. dollars.

As Bitcoin tickers down $23,204 shows a minor bull run, the connected mining ecosystems’ year-long struggle of $16.46, according to CoinDesk data. The token gained 350% in value since the start of the year.

According to Shaikh, Aptos is primarily banking on its established and incoming users and developers to drive the platform’s success. That’s despite for survival has started to pay off. In the first month of 2023, the Bitcoin mining community experienced a 50% increase in revenue through mining rewards and transaction fees.

On Dec. 28, 2022, Bitcoin mining revenue dipped to $13.6 million for the first time since October 2020. This, coupled with rising energy prices amid geopolitical tensions, imposed tremendous financial pressure on mining companies, forcing some to shut down.

As Bitcoin remains well-positioned for a steady recovery, the mining industry pushback from those who worried that Aptos’ APT token distribution veered in favor of the platform’s investors and its foundation, which received nearly half of the 1 billion tokens issued during the October mainnet launch. witnessed a 50% growth in revenue in terms of U.S. dollars, as shown below.

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Bitcoin mining revenue jumped from $15.3 million on Jan. 1 to nearly $23 million in the span of 30 days.

As more miners join to power and secure the decentralized Bitcoin network, the hash rate continues to reach new alltime highs. At the time of writing, the Bitcoin hash rate stood at around 300 exahashes-persecond.

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