Aptos to award $20 million grant to Web3 artists

The Aptos blockchain will award a $20 million grant to Web3 artists as part of a campaign to attract new participants to the network. The Block reports The Block.

Interested participants can register on the Aptos Foundation website.

Project representatives noted that the fund would provide both financing and “access to the infrastructure” needed for “maximum engagement” with the ecosystem.

The company previously allocated $3 million to a similar initiative.

Aptos is a blockchain platform based on the AptosBFT consensus algorithm, using the Move programming language. The project was founded by former Diem employees—the Meta-backed network, which was closed in early 2022.

As market activity picked up, Aptos’s native token (APT) rose by 416% in January 2023. By market capitalization, the platform surpassed Stellar and Bitcoin Cash, nearing Ethereum Classic and Monero, crossing the $3 billion threshold.

In February Aptos Labs invested in the Indian Web3-based social network Chingari, which positions itself as a competitor to TikTok.