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The fund will create an accelerator program to foster the growth of key projects on Aptos related to infrastructure, DeFi protocols, real-world assets, GameFi and more.
SINGAPORE, Aug. 1, 2024 /PRNewswire/ -- OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, and Aptos Foundation, a global blockchain leader, today jointly announced the launch of a new USD $10 million fund aimed at supporting the growth of the Aptos ecosystem and widespread adoption of Web3.
The fund will be used to develop an accelerator program, operated in partnership with Ankaa and intended to bolster the growth of quality projects and applications built on Aptos - a scalable Layer 1 Proof-of-Stake (PoS) blockchain that uses the Move programming language to make on-chain transactions more reliable, easier-to-use, and secure. The accelerator will provide selected Aptos ecosystem projects with venture support, focused mentorship, go-to-market exposure, and access to the extensive network of experts from OKX, Ankaa and Aptos Foundation combined.
A panel of judges from the Aptos Foundation, OKX Ventures and Ankaa teams will kick off the program by choosing five promising projects to include in this September's inaugural accelerator cohort. Ankaa will serve as the initial investor in accepted projects and run the accelerator's daily operations. The accelerator's key focus areas will initially include, but are not limited to, infrastructure, DeFi, RWA, gaming, social, AI, and other dApps critical to the growth and evolution of the Aptos ecosystem and Web3 in general.
Over the past two years, OKX Ventures has invested in over 300 projects across five continents with a fund size of approximately USD $1 billion, covering almost all investment tracks. Through the partnership with Aptos Foundation, OKX Ventures aims to double down its support and exploration of cutting-edge blockchain innovation and high-quality projects, committing to driving long-term value for the ecosystem.
Partner of OKX Ventures Jeff Ren said: "We see immense potential in Aptos, particularly due to its use of the Move programming language – a game-changer for creating secure and efficient smart contracts in the DeFi space. As we witness the next wave of adoption – spurred not only by the Ethereum and Bitcoin networks but beyond – we're enthusiastic about the prospect of Aptos becoming a major player in the blockchain space. We're fully committed to supporting Aptos ecosystem projects that enhance the fundamental infrastructure of the blockchain and Web3 space, and warmly welcome all interested developers to reach out to us."
Head of Grants and Ecosystem at Aptos Foundation Bashar Lazaar said: "OKX Ventures' vast network and robust expertise in supporting virtually all areas of the Web3 space is an invaluable resource for the Aptos ecosystem. The team's commitment to fostering a conducive environment for innovation and growth aligns perfectly with our vision for Aptos. We're excited to leverage their insights and resources to further foster the development of the Aptos ecosystem, and get some incredible projects off the ground."
"With OKX and Aptos Foundation at the helm, this joint ecosystem growth fund and accelerator will prove critical to cementing Aptos as the Move-based L1 to prove out elusive use cases and onboard Web2 developers into Web3," said Mo Shaikh, CEO of Aptos Labs, a member of the Aptos ecosystem that will be providing blockchain support and advisory efforts for the joint accelerator.
Applications for the Ankaa accelerator programare set to open this August. OKX Ventures, Aptos Foundation, and Ankaa welcome all interested developers and projects to connect with their teams via https://ankaalabs.typeform.com/accelerator
For further information, please contact:
Media@okx.com
About OKX Ventures
OKX Ventures is the investment arm of leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD 100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
About Aptos Foundation
Aptos Foundation is dedicated to supporting the development of the Aptos protocol, decentralized network and ecosystem and driving engagement with the Aptos ecosystem. By unlocking a blockchain with seamless usability, Aptos Foundation aims to bring the benefits of decentralization to the masses.
About Aptos Network
Aptos is a next-generation Layer 1 blockchain. Aptos' breakthrough technology and programming language, Move, are designed to evolve, improve performance and strengthen user safeguards. Please visit https://www.aptosfoundation.org for more information on the Aptos blockchain.
About Ankaa
Ankaa, the web3 accelerator co-launched by Aptos and OKX Ventures and ALCOVE, is committed to fostering innovation and helping founders to thrive in Web3. Founded by experienced entrepreneurs and tech leaders from top Web2 and Web3 companies, Ankaa supports early-stage Web3 startups with funding, mentorship, and resources. Ankaa's mission is to help visionary founders create blockchain applications building real-world use cases for mass adoption. Ankaa turns innovative ideas into leading products, shaping the future of the decentralized economy.
source: OKX Ventures
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