Cryptocurrencies, blockchain, NFT and new trends

Aptos giving $20 million to artists willing to create on its blockchain

Companies • April 12, 2023, 12:51PM EDT

Quick Take

  • Aptos’ investment in artists could help increase the number of people and developers engaging with its blockchain.
  • Competition is stiff among blockchains and scaling solutions.
  • The $20 million to be awarded will be on top of $3 million Aptos has already disbursed.

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Aptos’ quest to set itself apart has taken a new turn as the company announced a grant program which will award $20 million to “support artists and creatives of all mediums” who are willing to use the blockchain to realize their vision.

The Andreessen Horowitz-backed blockchain has made a name for itself thanks to a developer-friendly programming language, which was originally created by tech giant Meta’s Novi team. But competition among blockchains and scaling solutions remains thick. Rival chains and established players like Ethereum, Solana, Polygon and Cosmos each provide strong alternatives to Aptos.

The grants coming from the Aptos Foundation are the latest effort aimed at increasing the number of people and projects engaging with and building on Aptos’ chain. Aptos has been doubling down on investments and partnerships to achieve the expansion of a brand which aspires to serve billions of people. Recently, Aptos Labs invested in a popular Indian social media app Chingari, a rival to TikTok that will use Aptos’ blockchain. 

For the $20 million artists grant program, those who wish to apply can do so on the Aptos Foundation website. If successful, Aptos said it will provide both funding and “access to the infrastructure” needed to “make the most” of the company’s ecosystem.

Aptos said it has already given $3 million to artists and creators keen to craft web3 projects using its chain.

(Corrects to clarify the grants are coming from the Aptos Foundation.)