Blocto, a multichain wallet and cryptocurrency ecosystem, recently announced the creation of a $3 million Aptos Ecosystem Fund to assist projects in bringing new users to the Aptos platform. The announcement comes on the heels of Blocto’s successful implementation of Aptos, which saw more than 300,000 customers set up an Aptos wallet during the first week after the integration went live.
Blocto and Aptos have a basic objective in common, which is to accelerate the widespread adoption of Web3. Blocto’s backing of the Aptos ecosystem through the Ecosystem Fund will provide financial assistance to potential Aptos projects that accelerate the two organizations’ shared mission.
Mo Shaikh, Aptos’s co-founder and CEO, stated: “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.”
Helping Aptos Projects To Grow Faster
In addition to the funding itself, Blocto will provide support to outstanding projects during the phase of user acquisition, which is notoriously difficult. A select group of Aptos teams will be granted access to Blocto’s internal and external investor base, as well as financial marketing support and a communications channel with Blocto’s developer team.
These Aptos projects will be able to expand at a more rapid pace with the help of such support, which will draw more customers to their own applications, Blocto, and the larger Aptos ecosystem. Given the condensed nature of Blocto’s onboarding process, creating an Aptos wallet within the app can be done in as little as 30 seconds.
Due to the obvious simplicity of the platform, even crypto novices were able to start using Blocto in October 2022, when the milestone of 1.4 million users was reached. As a consequence of this, portto, which is Blocto’s parent company, continues to generate a profit despite the prolonged bear market that has reduced demand throughout the cryptocurrency industry.
Hsuan Lee, Blocto’s co-founder and CEO, commented on the decision to integrate Aptos: “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.”
Hsuan Lee elaborated on the present phase of the market cycle by stating that the Blocto team has been in the Web3 sector for several years. Blocto recognizes that the current bearish market is the optimal time to develop and improve goods in anticipation of the next wave of cryptocurrency adoption. Lee said that historically, those projects that continue development during economic downturns have the most influence when consumer sentiment improves.
Aiming To Simplify The Web3 Experience
Blocto is an application for cross-chain wallets as well as an ecosystem for several chains that was developed to make using Web3 easier, particularly for people who are not technically savvy. Blocto currently supports the Ethereum, Solana, Flow, BNB Chain, Polygon, and Tron networks in addition to its latest collaboration with Aptos.
Edwin Yen, Blocto’s co-founder and COO, added: “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.”
Blocto and its parent business, portto, were founded in Taipei in 2019 with the intention of promoting blockchain adoption by removing frequent newbie pain points for users, developers, and marketers. Blocto’s objective is centered on the user experience and a commitment to eliminating entry barriers. As a result, Blocto was among the first to promote email logins, uniform gas fees, and other innovative UX enhancements, thereby cutting user acquisition expenses dramatically.
