Hassan Maishera
Multichain wallet and crypto ecosystem Blocto announced a $3 million Aptos Ecosystem Fund on Thursday, November 3rd. According to the press release shared with Cryptowisser, the fund is designed to help projects onboard new users to Aptos.
This latest development comes after Blocto's successful Aptos integration, which saw more than 300,000 users set up an Aptos wallet within the first week.
Blocto said its support of the Aptos ecosystem through the Ecosystem Fund will provide financial support to promising Aptos projects furthering their mutual mission.
While commenting on this latest development, Hsuan Lee, Blocto's co-founder and CEO, 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."
Edwin Yen, Blocto's co-founder and COO added that;
"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, Mo Shaikh, Aptos's co-founder and CEO, also commented that;
"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."
In addition to the funding, Blocto said it would support unique projects during the often challenging user acquisition phase. Select Aptos teams will gain access to Blocto's in-house and external investor base, financial marketing support, and a communications channel with Blocto's developer team.
By providing the projects with supports, they can be able to grow faster, attracting new users to their own applications, Blocto, and the wider Aptos ecosystem.
Blocto's streamlined onboarding process means setting up an Aptos wallet in the app takes as little as 30 seconds. This ease of use, even for crypto newcomers, enabled Blocto to surpass 1.4 million users in October 2022.
Lee added that;
"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."
Blocto is a cross-chain wallet application and multichain ecosystem built to simplify the Web3 experience, particularly among non-technical users. Alongside its recent Aptos integration, Blocto supports the Ethereum, Solana, Flow, BNB Chain, Polygon, and Tron networks.
