Aptos NFT Marketplace hopes to dispel negative sentiments surrounding APT Crypto

Aptos (APT-USD) is the most talked about network in crypto this week. The project has just had its first launch – an event that has been hyped for some time now. Nevertheless, there have been several problems that have dragged the Aptos mood down. Through all this, developers claim that the project is still ready to lead the class of layer-1 networks. An upcoming non-fungible token (NFT) market should help it prove itself.

Before Aptos’ launch earlier this week, crypto investors were excited about the prospects that Aptos Labs hinted at. The project’s origins can, after all, be traced all the way back to Meta platforms (NASDAQ:META), where co-founders Avery Ching and Mo Shaikh worked. The pair were managers of the company’s Novi project. At the time, Meta was diligently working on a suite of crypto products. These include the Novi wallet and a stablecoin called Diem. Earlier this year, both of these projects were scrapped and their assets were sold.

Ching and Shaikh, who worked extensively on the Diem blockchain, took it upon themselves to start Aptos Labs and continue the work done up to that point. Using the open source Diem chain, the two lead a development team that wants to create a highly scalable layer-1 network. Aptos even comes complete with its own programming language, called Move.

The Aptos network is the result of this long-term effort by Meta to break into the crypto world, and the efforts of Shaikh and Chings afterward to keep the blockchain alive. Now the developers promise a chain capable of processing over 130,000 transactions per second (TPS). The first week doesn’t go well. But the company promises that things will show up very soon.

Aptos NFT Market seeks to reassure APT Crypto Skeptics

When Aptos launched on Tuesday, it did so with plenty of drama to spare. The network is attracting chatter for severe underperformance, and some controversy surrounding its airdrop of APT crypto. Shaikh is trying to quell some of this bad press by announcing an upcoming NFT marketplace.

NFTs are a hot item in crypto and they have remained as such even during the volatile state of the market. Aptos developers are banking on the success of their NFT marketplaces. They are also betting that such products will help stop doubters about Aptos’ claims about scalability.

In the days since launch, Aptos has only seen about four TPS, just a fraction of one percent of the 130,000 TPS promised before launch. This has caused a lot of concern about whether the network can live up to what they promise. To that end, Shaikh defends the project, saying the low TPS can be attributed to the lack of projects on the brand new network. He says that with increasing use, the network will be able to demonstrate its capabilities.

That test will come sooner rather than later, as NFT marketplaces begin to appear on the nascent project. The Topaz marketplace, one of the first NFT platforms on Aptos, already has 3,700 NFTs ready for purchase. As users flock to these NFTs, we will be able to see if Aptos is truly capable of handling as many transactions as a network that Solana (SOL USD).

Until then, the network also has other press battles to fight. For example, Aptos Labs is facing considerable controversy already as it has dropped almost half of the total APT crypto supply to its own developers and early investors who FTX and Andreessen Horowitz.

At the date of publication, Brenden Rearick did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to the InvestorPlace.com Publishing Guidelines.