Share this article
Crypto Wallet Blocto Launches $3M Fund for Aptos-Based Projects
The layer 1 blockchain from ex-Meta employees made its mainnet debut last month with a limited ecosystem.
By Brandy Betz
Updated May 9, 2023, 4:01 a.m. Published Nov 3, 2022, 1:00 p.m.
Make us preferred on Google
Blocto, a Mark Cuban-backed multi-chain crypto wallet and ecosystem, has opened a $3 million Aptos Ecosystem Fund to help projects onboard new users, according to a press release provided to CoinDesk.
Aptos Labs, the company behind Aptos, was co-founded by Mo Shaikh and Avery Ching, former Meta employees who helped create the tech giant’s failed stablecoin known as diem. The high-profile layer 1 blockchain raised $200 million in a March funding round led by noted investment firm Andreesen Horowitz and then raised another $150 million in a July round led by FTX Ventures and Jump Crypto. However, the mainnet debut last month was shaky, with initially slow transaction times and a limited ecosystem as dozens of projects were still waiting to launch.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Blocto was founded in Taipei in 2019 by parent company portto and offers a wallet application and ecosystem that aims to make it easier for new users to enter the Web3 space through features such as email logins and universal gas or transaction fees. Blocto, which has raised $8.8 million in funding, according to Crunchbase, also supports the Ethereum, Solana, Flow, BNB Chain, Polygon and Tron blockchains.
"We've been on the lookout for promising blockchain ecosystems with long-term potential, and Aptos has caught our attention,” said Blocto co-founder and CEO Hsuan Lee in the press release. “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."
Alongside the funding, Blocto will also offer the selected projects operational support, including access to Blocto’s investor base, financial marketing team and its developers.
Read more: Aptos Debuts Its Blockchain, Putting Millions in VC Dollars to the Test
Higit pang Para sa Iyo
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
Ano ang dapat malaman:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
Higit pang Para sa Iyo
XRP-linked Ripple rolls out treasury platform after $1 billion GTreasury deal
New product lets companies manage cash, stablecoins and tokenized funds in one system, cutting cross-border settlement times from days to seconds.
Ano ang dapat malaman:
- Ripple has launched Ripple Treasury, an enterprise platform that lets companies manage traditional cash and digital assets in one system, following its $1 billion acquisition of GTreasury.
- The service uses Ripple’s RLUSD stablecoin to move money across borders in three to five seconds, while integrating with existing treasury workflows to streamline liquidity and reduce idle capital.
- By connecting clients to overnight repo markets and tokenized money-market funds such as BlackRock’s BUIDL, Ripple aims to position itself as regulated institutional financial infrastructure rather than a crypto-only payments provider.
Top Stories
