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.”

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.”

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.

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