A $3 million Aptos Ecosystem Fund has been unveiled by Mark Cuban-backed Blocto, a multichain wallet, with the aim of assisting in the onboarding of new Aptos users. The Aptos fund will be used to back exceptional ideas after they reach the “user acquisition phase” in addition to providing financial support for projects.
Hsuan Lee, the co-founder and CEO of Blocto, commented on his company’s integration with Aptos by saying:
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.
The statement also pointed out that only a select few Aptos teams will get access to Blocto’s “in-house and external investor base and financial marketing support.”
Blocto’s integration into the Aptos ecosystem, according to Mo Shaikh, who’s the co-founder and CEO of Aptos will enhance this environment for the community.
Commenting on the launch, Lee further went on to say,
“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”
The introduction of the fund comes right after Blocto recently integrated with Aptos, which according to reports, resulted in more than 300,000 people setting up an Aptos wallet within the first week.