Singapore – OKX Ventures, the investment arm of leading crypto exchange OKX, in partnership with the Aptos Foundation, has announced a new $10 million fund to support the growth and development of the Aptos ecosystem.
This strategic initiative aims to accelerate the adoption of Web3 technologies by fostering innovative projects built on Aptos, a prominent Layer 1 blockchain utilizing the Move programming language.
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Key Highlights
Fund Purpose: To create an accelerator program that supports projects focused on infrastructure, DeFi protocols, real-world assets (RWA), GameFi, and more.
Partnership: Ankaa, a web3 accelerator, will operate the program and act as the initial investor in accepted projects.
Selection Process: A panel from the Aptos Foundation, OKX Ventures, and Ankaa will select five promising projects for the inaugural cohort starting in September.
The accelerator program aims to nurture high-potential projects within the Aptos ecosystem by providing venture support, mentorship, market exposure, and access to a vast network of experts. The focus areas include infrastructure, DeFi, RWA, gaming, social applications, AI, and other dApps critical to the evolution of Web3.
Jeff Ren, Partner at OKX Ventures, emphasized the importance of Aptos's use of the Move programming language:
"Move is a game-changer for creating secure and efficient smart contracts. We're excited about the potential of Aptos to become a major player in the blockchain space and are committed to supporting projects that enhance the fundamental infrastructure of blockchain and Web3."
Jeff Ren, Partner at OKX Ventures
Aptos Ecosystem Growth
Over the past two years, OKX Ventures has invested in over 300 projects globally, with a total fund size of approximately $1 billion. This partnership with Aptos Foundation is a significant step towards expanding their support for cutting-edge blockchain innovations.
Bashar Lazaar, Head of Grants and Ecosystem at Aptos Foundation, expressed enthusiasm about the collaboration:
"OKX Ventures' extensive network and expertise are invaluable to the Aptos ecosystem. This partnership aligns perfectly with our vision of fostering a conducive environment for innovation and growth."
Bashar Lazaar, Head of Grants and Ecosystem at Aptos Foundation
Why Aptos?
Aptos, a scalable Layer 1 Proof-of-Stake (PoS) blockchain, leverages the Move programming language to enhance on-chain transaction reliability, usability, and security. Originally developed by Facebook, Move addresses significant blockchain challenges, including many auditor-prioritized attack vectors.
Mo Shaikh, CEO of Aptos Labs, highlighted the strategic importance of the joint fund:
"With OKX and Aptos Foundation leading this initiative, we aim to cement Aptos as a leading Move-based blockchain, enabling innovative use cases and onboarding Web2 developers into Web3."
Mo Shaikh, CEO of Aptos Labs
This joint effort by OKX Ventures and Aptos Foundation marks a significant milestone in accelerating the growth and adoption of the Aptos ecosystem, paving the way for a more interconnected and innovative blockchain future.
Applications for the Ankaa accelerator program will open in August. Developers and projects interested in joining can connect with the teams via Ankaa Accelerator Application.
