Aptos Projects Acquire $3M Support From Crypto Wallet Blocto

Blocto, a crypto ecosystem, and multichain wallet has announced the creation of a $3 million Aptos Ecosystem Fund to assist projects in bringing new users to Aptos. In the wake of Blocto’s Aptos integration, which saw 300,000 new Aptos wallets created in the first week, this is encouraging.

Blocto and the Aptos community share the goal of accelerating the widespread use of Web3 technology, and the Ecosystem Fund is Blocto’s way of lending its financial backing to the community and helping to fund innovative Aptos initiatives.

Blocto co-founder and CEO Hsuan Lee stated:

“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.”

Blocto co-founder and COO Edwin Yen stated:

“We share the same vision with Aptos in aiming to bring blockchain applications to mass-market adoption. With the security and performance provided by Aptos, empowered by Blocto’s user-friendly onboarding UX and UI, we are expecting prosperous ecosystem growth in the future.”

Meanwhile, CEO and co-founder of Aptos Mo Shaikh said:

“Aptos places a laser focus on user experience, and we are happy to have Blocto join the Aptos ecosystem to reinforce this for the community.”

Blocto won’t only provide funding to great initiatives; they’ll also help with user acquisition, which may be challenging for many. Blocto will provide select Aptos teams with access to their internal and external investor networks, financial marketing support, and a direct line of contact to their dev team. This funding will allow these Aptos initiatives to flourish, bringing more people into the fold of the Aptos ecosystem as a whole, Blocto, and also the apps in question. Check out this link for more information.

Because of Blocto’s simple onboarding procedure, creating an Aptos wallet inside the app takes as little as 30 seconds. In October of 2022, Blocto had over 1.4 million users because of its ease of use even for crypto newcomers. In light of this, portto, Blocto’s parent business, continues to generate a profit despite the fact that the continuing bad market has reduced demand throughout the crypto sector.

Lee added some more thoughts on the present phase of the market cycle:

“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.”