Sui Foundation

Sui Foundation

Web3 platform for creating digital assets

About Sui Foundation

Simplify's Rating
Why Sui Foundation is rated
A-
Rated A on Competitive Edge
Rated B on Growth Potential
Rated A on Rating Differentiation

Industries

Data & Analytics

Crypto & Web3

Company Size

51-200

Company Stage

Seed

Total Funding

$8.4M

Headquarters

San Francisco, California

Founded

2022

Overview

Sui is a web3 development platform that focuses on creating and managing digital assets. It allows users to develop on-chain assets that function similarly to in-game items, providing a secure and easy-to-use environment for building smart contracts. Sui's unique object-centric data model enables digital assets and their characteristics to exist on-chain independently of smart contracts. This design, along with its ability to scale horizontally and process transactions in parallel, helps maintain low and stable fees, even during high demand. Additionally, Sui offers strong security measures to ensure that only asset owners can use their assets, regardless of the type of transaction. The platform is already being utilized by various projects, and Sui encourages developers to participate in their Global Builder House Tour to learn more about the projects being built on their platform.

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Simplify's Take

What believers are saying

  • Integration with Phantom Wallet increases Sui's accessibility and user adoption.
  • Sui's collaboration with Babylon Labs introduces Bitcoin staking, enhancing DeFi offerings.
  • E4C: Final Salvation showcases Sui's capability in supporting complex gaming applications.

What critics are saying

  • Rapid ecosystem growth may lead to scalability challenges affecting user experience.
  • Integration with Phantom Wallet could expose Sui to multichain vulnerabilities.
  • Reliance on Move language poses risks if it lacks widespread adoption.

What makes Sui Foundation unique

  • Sui uses the Move programming language, enhancing security and developer productivity.
  • Sui's object-centric data model allows assets to exist outside smart contracts.
  • Horizontal scaling and parallel processing keep Sui's transaction fees low and stable.

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Funding

Total Funding

$8.4M

Above

Industry Average

Funded Over

1 Rounds

Early VC funding comparison data is currently unavailable. We're working to provide this information soon!
Early VC Funding Comparison
Coming Soon

Benefits

Remote Work Options

Flexible Work Hours

Professional Development Budget

Growth & Insights and Company News

Headcount

6 month growth

-3%

1 year growth

-11%

2 year growth

-8%
Crypto Daily
Feb 13th, 2025
Dogecoin Price Could Face 50% Correction, While This Viral Presale Is Breaking New Highs

3DOS has chosen Sui to tokenize and secure 3D designs as NFTs, showcasing the network's ability to power innovative use cases.

Decrypt
Jan 29th, 2025
Popular Solana And Bitcoin Wallet Phantom Adds Sui Support

Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENEPhantom, a popular crypto wallet used across multiple blockchains, added beta support for the Sui blockchain on Wednesday.The addition places Sui alongside Solana, Ethereum, Base, and Bitcoin in Phantom’s growing list of supported chains.“When we transformed Phantom into a multichain wallet in 2023, we did so with the commitment that only the most capable chains would be integrated into the app,” said Phantom CEO Brandon Millman in a statement. “Sui’s focus on scalability and its superior user experience aligns perfectly with Phantom's goal of making crypto accessible for everyone.”How to activate Sui (beta): Step 1: Open PhantomStep 2: Go to ‘Settings’Step 3: Select ‘Active Networks’Step 4: Toggle Sui on ⚪ → 🔵 pic.twitter.com/BHhyoRy5cp — Phantom (@phantom) January 29, 2025Sui is the first blockchain added to Phantom that uses the Move programming language, a novel blockchain-agnostic language designed to reduce learning curve for developers and improve security and productivity. Move was originally developed within Facebook parent Meta as part of its shuttered Diem stablecoin project.“The launch of Sui as the first Move-based chain on the Phantom wallet validates what the community has accomplished in the past year,” said Christian Thompson, Managing Director of the Sui Foundation.The network has blossomed in the last year, growing to become the 8th largest blockchain by total value locked with more than $1.6 billion in assets according to data from DefiLlama. In that time, the blockchain’s native SUI token is up 140% to $3.70, making it the 19th largest crypto asset by market cap.With Phantom’s addition of the chain, users can now seamlessly trade SUI and other tokens on the blockchain, like meme coins, all within the Phantom app or browser extension.To activate the chain, users will need to go to their wallet settings and select “active networks” to toggle Sui support. Access for the chain went live around 12pm ET on Wednesday

The Block
Jan 24th, 2025
Chain-abstracted memecoin launchpad Printr raises $2.5 million in pre-seed funding

The chain-abstracted token marketplace Printr raised $2.5 million in the firm's first financing round, according to a release shared with The Block.

Sui
Jan 6th, 2025
Sui's Booming DeFi Ecosystem Harnesses Institutional Adoption, Surpasses $2B TVL

In September, 2024, Mysten Labs unveiled its SuiPlay0X1, a first-of-its-kind handheld gaming console that supports a wide range of PC games, and new AAA titles developed using Sui technology.

Sui
Dec 19th, 2024
Sui Appoints Christian Thompson to Lead Its Next Growth Phase

The Sui Foundation, the organization dedicated to the advancement and adoption of the flourishing Sui ecosystem, today appointed Christian Thompson as its new Managing Director.

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