OKX Ventures and Aptos Foundation Announce $10 Million Fund to Support Aptos Ecosystem and Web3 Adoption
OKX Ventures, the investment arm of prominent crypto exchange and Web3 technology company OKX, has partnered with Aptos Foundation to launch a $10 million fund. The fund aims to support the growth of the Aptos ecosystem and drive widespread adoption of Web3 technology.
Aptos Foundation is responsible for building the Aptos blockchain, a scalable Layer 1 Proof-of-Stake (PoS) blockchain that utilizes the Move programming language to enhance the reliability, usability, and security of on-chain transactions.
The fund will be utilized to establish an accelerator program, operated in collaboration with Ankaa, with the goal of fostering the growth of high-quality projects and applications built on the Aptos blockchain.
The accelerator program will provide selected projects within the Aptos ecosystem with venture support, focused mentorship, go-to-market exposure, and access to a vast network of experts from OKX, Ankaa, and Aptos Foundation.
A panel of judges from the Aptos Foundation, OKX Ventures, and Ankaa teams will select five promising projects to participate in the inaugural accelerator cohort, which will commence in September.
Ankaa will serve as the initial investor in the accepted projects and will be responsible for managing the day-to-day operations of the accelerator. The program’s initial focus areas include infrastructure, DeFi, RWA, gaming, social, AI, and other decentralized applications critical to the growth of the Aptos ecosystem and Web3 as a whole.
Jeff Ren, a partner at OKX Ventures, expressed enthusiasm for the potential of Aptos, particularly highlighting the use of the Move programming language in creating secure and efficient smart contracts in the DeFi space. Ren emphasized OKX Ventures’ commitment to supporting projects that enhance the fundamental infrastructure of the blockchain and Web3 space.
OKX Ventures has a track record of investing in over 300 projects globally, with a fund size of approximately $1 billion. Through the partnership with Aptos Foundation, OKX Ventures aims to further support and explore cutting-edge blockchain innovation and high-quality projects, with a focus on driving long-term value for the ecosystem.
Bashar Lazaar, Head of Grants and Ecosystem at Aptos Foundation, emphasized the invaluable resource that OKX Ventures’ network and expertise represent for the Aptos ecosystem. Lazaar expressed excitement about leveraging OKX Ventures’ insights and resources to foster the development of the Aptos ecosystem and bring incredible projects to fruition.
Mo Shaikh, CEO of Aptos Labs, highlighted the significance of the joint ecosystem growth fund and accelerator in establishing Aptos as the leading Move-based Layer 1 blockchain. Shaikh believes that this initiative will prove critical in demonstrating the potential use cases of Aptos and onboarding developers from Web2 into Web3.
Applications for the Ankaa accelerator program will open in August. OKX Ventures, Aptos Foundation, and Ankaa welcome all developers and projects interested in participating to connect with their teams.
In conclusion, the collaboration between OKX Ventures and Aptos Foundation through the $10 million fund and accelerator program demonstrates their commitment to driving the growth and adoption of the Aptos ecosystem and Web3 technology. With the support of industry experts and access to extensive resources, this initiative has the potential to propel the development of innovative projects and applications within the blockchain space. Developers and projects are encouraged to seize this opportunity and connect with the teams to be part of this exciting journey.