A $3M fund for Aptos-based projects has been launched by crypto wallet Blocto

Key points: 

• Blocto has announced a $3 million Aptos Ecosystem Fund to help new users of the project.
• In addition to funding, Blocto will provide operational support for selected projects, including access to Blocto's investor base, financial marketing team, and its developers.

According to a press release, Mark Cuban-backed multi-chain crypto wallet and ecosystem Blocto has announced a $3 million Aptos Ecosystem Fund to help new users of the project.

Aptos Labs, the company behind Aptos, was co-founded by former Meta employees Mo Shaikh and Avery Ching who helped create the tech giant’s failed stablecoin - Diem. The high-profile Layer 1 blockchain raised $200 million in a round led by prominent investment firm Andreesen Horowitz in March and in a round led by FTX Ventures and Jump Crypto in July $150 million. However, its mainnet debut last month was volatile, with slow initial trading times and a limited ecosystem as dozens of projects are still waiting to launch.

Founded in Taipei in 2019 by parent company Portto, Blocto provides a wallet app and ecosystem designed to facilitate new users’ access to the Web3 space with features such as email login and general gas or transaction fees. According to Crunchbase, Blocto has raised $8.8 million in funding and also supports Ethereum, Solana, Flow, BNB Chain, Polygon, and Tron blockchains.

“We were always on the lookout for promising blockchain ecosystems with long-term potential, and Aptos caught our attention,” Blocto co-founder and CEO Hsuan Lee said in a press release. “It’s designed to make blockchain accessible to regular users — a big focus for us at Blocto — and it’s building a lot of momentum in the developer community even in the current market situation.”

In addition to funding, Blocto will provide operational support for selected projects, including access to Blocto's investor base, financial marketing team, and its developers.