Aptos Foundation launches DAO Movemaker to promote the Aptos blockchain

What’s new? The Aptos Foundation, a non-profit organization created to support the Layer 1 (L1) blockchain of the same name, has announced the launch of an official decentralized autonomous organization (DAO) called Movemaker. It will promote the Aptos blockchain ecosystem, written in Move, in the Chinese-speaking region, which the developers have identified as a key market.

Press release

What else is known?

“With autonomous decision-making authority, Movemaker is designed to efficiently address the needs of developers and ecosystem builders in the Chinese-speaking region, while further expanding Aptos’ reach and influence in the global Web3 landscape,” the team said in a press release, noting that the Aptos Foundation has also committed millions of dollars in funding to Movemaker and will provide further resources as needed.

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One of Movemaker’s main objectives will be to create a grant program to support the incubation and growth of ecosystem projects. DAO members will manage the fund, which will focus on decentralized financial (DeFi) protocols, blockchain integration with artificial intelligence, innovative payment solutions, and real-world asset (RWA) tokenization and stablecoins.

Movemaker will also take responsibility for community development and spreading the word about Aptos in the Chinese language market.

The organization’s regional hub will be Hong Kong, where the Aptos Space platform will be launched to host hackathons, tech workshops, and community meetups.

In addition, Movemaker will work closely with government agencies, industry associations, and business organizations across the region to ensure the legitimate adoption of Aptos ecosystem projects.

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Over the coming year, the organization’s goals include attracting 1 million new users through community events and educational initiatives, increasing on-chain activity fivefold, and strengthening Aptos’ presence in Web3 communities across the region.

Movemaker was co-founded by BlockBooster, Asia’s leading Web3 venture capital studio, and the team behind the Ankaa accelerator, which was launched through a joint fund from Aptos and OKX Ventures.

The native token of the Aptos (APT) blockchain ranks 37th in the overall cryptocurrency market capitalization ranking with a market cap of over $4 billion and is trading at $7,06, having lost 13,9% overnight amid a general market correction.