MARK CUBAN INVESTS IN BLOCTO, A MULTICHAIN WEB3 ECOSYSTEM AND CROSS-CHAIN WALLET

Mark Cuban, the owner of Dallas Mavericks and founder of Broadcast.com, along with 500 Global & IPX and others, has invested $80 million in series A funding in Blocto, a multichain web3 ecosystem and cross-chain wallet. After the series A funding, Blocto’s valuation has risen 700%. Mark Cuban has also joined Blocto Wallet as an advisor and investor. But what exactly is Blocto? Let’s take a closer look!

What is Blocto?

Blocto is a multichain web3 ecosystem and cross-chain wallet launched by Portto in 2019. It aims to enhance the user experience of wallets, which is crucial for the mass adoption of blockchain in the coming years. The wallet is the central point of interaction with a blockchain, where users can manage funds and perform transactions. Therefore, it’s the first thing a user needs to get started with blockchain networks. Blocto plans to use the funds to develop infrastructure so that more people can use crypto.

Blocto is the only mobile app that supports Flow, the latest type of blockchain that is growing at a record speed. Flow is fast, decentralized, and developer-friendly. The project aims to make blockchain applications, NFT assets, and crypto accessible irrespective of the blockchain they are built on.

What is the Project?

The project is a smart wallet that can work on different blockchains. In this wallet, users can log in with their email, buy or sell NFTs, and use blockchain applications like any other mobile application. The project has two main products: Blocto App and Blocto SDK.

Blocto App

Blocto App aims to create a frictionless user experience with appealing visuals and straightforward usage, providing a good entry point for newcomers and a cross-chain solution for existing users. It has a unique feature of paying the transaction fee across multiple blockchains using Blocto points.

Additionally, Blocto provides the utmost security. The Blocto App has two modes to reduce technology overhead: custodial mode and non-custodial mode. The default mode is the custodial mode, where Blocto manages your node and private keys. Once you get familiar with the technology, you can take charge of your private keys by switching to the non-custodial mode.

Blocto SDK

Developers can use the Blocto SDK (Software Development Kit) to improve the user experience of their application. They can create their own wallets and DApps with minimal effort. Blocto SDK reportedly achieves more than 90% conversion rates, which is 20 times the industry standards. It has 30-second login and freemium features simplifying transaction fees and gas fees.

In conclusion, Blocto Wallet is going to play a significant role in the mass adoption of crypto in the coming years.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing