Blocto Unveils $3M Aptos Ecosystem Fund for User Onboarding
Blocto has announced the launch of a $3 million Aptos(APT) Ecosystem Fund aimed at making it easier for projects to onboard new users to the Aptos blockchain. The fund will offer financial support to promising Aptos projects.
Blocto’s Aptos Ecosystem Fund
Building upon the success of its recent Aptos integration, which attracted over 300k users to Aptos within a week, Blocto, a cross-chain wallet application, and multi-chain ecosystem built to simplify the Web3 experience of new users has launched a $3 million Aptos Ecosystem Fund.
Via the new fund, Blocto aims to provide projects building on the Aptos blockchain with the necessary resources they need to onboard new users.
In addition to the funding, Blocto will support promising Aptos projects during the often challenging new user acquisition and onboarding phase.
Created by developers of Meta’s (formerly Facebook) now-defunct blockchain project, Diem, Aptos creators claim the network will have the capacity to process more than 130,000 transactions per second (TPS) thanks to its parallel execution engine known as Block-STM.
Commenting on the launch of Blocto’s new Aptos Ecosystem Fund, Hsuan Lee, CEO and co-founder of Blocto reiterated that Aptos’ mission of making Web3 more user-friendly and accessible, aligns with the objectives of the Blocto ecosystem.
“We’ve been looking 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 developer community, even in the current market situation.”
Founded in 2019 in Taipei, Blocto is focused on accelerating Web3 adoption by crushing the numerous entry barriers and pain points for users, developers, and blockchain marketers. Blocto was among the first blockchain projects to champion email logins, and other features designed to help startups reduce overall user acquisition costs, including universal gas fees and more.
Edwin Yen, Blocto’s co-founder and COO 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.”
To further make life easier for the Aptos project, Blocto has hinted that select Aptos teams will be granted access to its in-house and external investor base, financial marketing support, and a communications channel with Blocto’s devs, enabling the Aptos projects to grow faster, and attract new users to their solutions, as well as the Blocto and Aptos ecosystems in the long run.
With Blocto’s streamlined onboarding process, setting up an Aptos wallet takes 30 seconds. The team claims the ease of use the solution offers enabled Blocto to surpass the 1.4 million active user threshold in October 2022. Blocto’s growing adoption has also made it possible for both the project and its parent company, portto, to weather the storms of the bear market easily.
Apart from Aptos, Blocto also supports a good number of leading blockchain networks, including Ethereum, BNB Chain, Solana, Flow, and Tron.