Mark Cuban-Backed Multichain Wallet Launches $3 Million Aptos Ecosystem Fund to Onboard New Users
Blocto, a multichain wallet has announced the launch of a $3 million Aptos Ecosystem Fund whose objective is to help onboard new users to Aptos. Besides financially supporting projects, the Aptos fund will be used to back standout projects when they get to the “user acquisition phase.” Access to Aptos’ in-House and External Investor Base
Blocto, a multichain wallet and crypto ecosystem, has announced the launch of a $3 million Aptos Ecosystem Fund to be used for onboarding new users to Aptos, a layer one proof of stake blockchain. The launch of the fund follows Blocto’s recent integration with Aptos which reportedly saw “more than 300,000 users set up an Aptos wallet within the first week.”
According to a statement shared with Bitcoin.com News, Blocto, which is backed by billionaire Mark Cuban, plans to use the Aptos Ecosystem Fund to financially support mutually beneficial projects. Besides extending financial support, Blocto will also back standout projects when they get to the “user acquisition phase.” The statement added that only select Aptos teams will gain access to Blocto’s “in-house and external investor base and financial marketing support.” ‘Prosperous Ecosystem Growth in the Future’
Commenting on his firm’s integration with Aptos, Hsuan Lee, the co-founder and CEO at Blocto said: We’ve been on the lookout for promising blockchain ecosystems with long-term potential, and Aptos has caught our attention. It aims to make blockchain accessible for average users — a big focus for us at Blocto — and has accumulated a lot of momentum in the dev community, even in the current market situation.
Lee’s fellow co-founder and Blocto’s chief operating officer (COO) said the firm entities shared a similar vision and both are optimistic that a “prosperous ecosystem growth in the future” is in the offing.
Mo Shaikh, the co-founder and CEO at Aptos, said he expects Blocto’s integration with the Aptos ecosystem “to reinforce this [ecosystem] for the community.”
Meanwhile, the statement also quotes Lee sharing his thoughts about projects which are developed when market conditions are bearish.
“Many from the Blocto team have been in the Web3 industry for several years already. We know this bearish market is the best time to build and refine products in preparation for the next wave of crypto adoption. Historically, those projects continuing development during downturns create the most impact when sentiment reverses,” Lee explained. Tags in this story Aptos Blockchain, Aptos wallet, Blockchain, Blocto, Hsuan Lee, Mark Cuban, multichain wallet, Web3
What are your thoughts on this story? Let us know what you think in the comments section below. Terence Zimwara
Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. Democrats and Republicans Agree Cryptocurrency Is the Future of Finance, Survey Shows FEATURED | 1 day ago Chinese Central Bank Governor: User Privacy and Financial Security Key Principles Guiding CBDC Design Process FEATURED | 2 days ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBakkt Acquires Turnkey Platform Apex Crypto to Bolster Digital Asset Footprint Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItArgentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments
The National Securities Commission (CNV), which is the Argentinian securities watchdog, recently launched an innovation hub with the goal of advancing conversations about cryptocurrency and fintech investments. This organization will serve as a link between private entities and the institution, ... read more.Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Iran to Increase Penalties for Unauthorized Cryptocurrency Mining Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design