Blocto wallet valuation has increased by 700% since its Series A funding round. It intends to invest in blockchain simplification and web 3 mass adoption. Mark Cuban and 500 Global were among the notable investors in the project.
Mark Cuban invests in Blocto Wallet, a web 3 project.
Mark Cuban has joined Blocto Wallet as an advisor and investor, resulting in a $80 million Series A funding round. The wallet’s value increased by over 700% as a result of this activity.
Blocto is Portto’s 2019 multichain web 3 ecosystem and cross-chain wallet.
The project aims to allow crypto users to freely interact within the industry. Its journey has been bolstered by a notable collaboration in its Series A funding round with Mark Cuban, 500 Global, Roham Garagozlou, CEO of Dapper Labs, Animoca Brands, Kevin Chou of Gen. G Esport, and others.
Portto claims in a press release that they are still profitable despite the current crypto market meltdown. The Blocto Wallet had 1.6 million users as of November 2022, with BlocktoBay becoming the most popular non-custodial NFT Marketplace on the Flow Blockchain.
Portto went on to say that since entering the Aptos ecosystem, Blocto has quickly established itself as the second-largest Aptos wallet, with over 400,000 users and plans to continue growing.
Blocto Wallet’s Series A funding round has elicited reactions from officials and investors.
Blocto’s Series A funding round was a success because it significantly increased the wallet’s valuation. As a result, several officials and investors have made statements about the process and what will happen.
Hsuan Lee, Portto’s CEO and co-founder, expressed excitement at attracting multiple investors who share their vision. He added that by bringing the technology to people, they are now better equipped to innovate and onboard new crypto users.
Tony Wang, a managing partner at 500 Global, also commented on the subject, thanking Portto and Blocto for demonstrating that the best founders continue to build regardless of market conditions. He also stated that they believe Blocto Wallet’s continued growth, despite market conditions, will position it as one of the most influential projects in the crypto industry.
These developments occur during a bear cycle in the crypto space, but they foreshadow a growing interest in innovation. However, nothing is guaranteed because the space is still in its early stages, so learn how to DYOR to avoid potential losses and keep an eye on crypto.news for updates on this and other stories.
