On August 1, 2024, OKX Ventures, the investment arm of leading crypto asset exchange and Web3 technology company OKX, and Aptos Foundation, a global blockchain leader, announced that they will jointly launch a new $10 million fund to support the growth of the Aptos ecosystem and the widespread adoption of Web3.
The fund will be used to develop an accelerator program, operated in partnership with Ankaa, to drive the growth of quality projects and applications based on Aptos. Aptos is a scalable Layer 1 PoS blockchain that uses the Move programming language to make on-chain transactions more reliable, easy to use, and secure. The accelerator will provide selected Aptos ecosystem projects with risk support, focused guidance, market exposure, and a joint network of experts from OKX, Ankaa, and the Aptos Foundation.
A jury consisting of the Aptos Foundation, OKX Ventures, and the Ankaa team will select five promising projects and include them in the first batch of accelerator programs in September this year. Ankaa will serve as the initial investor in the selected projects and will be responsible for the daily operations of the accelerator. The initial focus areas of the accelerator will include but are not limited to infrastructure, DeFi, RWA, games, social, AI, and other DApps that are critical to the development and evolution of the Aptos ecosystem and Web3.
In the past two years, OKX Ventures has invested in more than 300 projects across five continents, covering almost all sectors, with a fund size of approximately US$1 billion. Through its partnership with the Aptos Foundation, OKX Ventures aims to increase support and exploration for cutting-edge blockchain innovations and high-quality projects, and is committed to driving the long-term value of the ecosystem.
Jeff Ren, Partner at OKX Ventures, said: “We see great potential in Aptos, especially since it uses the Move programming language - a game changer for creating secure and efficient smart contracts in the DeFi space. With the next wave of adoption driven by the Ethereum and Bitcoin networks, we are excited about the prospect of Aptos becoming a major player in the blockchain space. We are fully committed to supporting Aptos ecosystem projects and enhancing infrastructure in the blockchain and Web3 space, and warmly welcome all interested developers to contact us.”
Bashar Lazaar, Head of Grants and Ecosystem at Aptos Foundation, said: “OKX Ventures’ vast network and strong expertise in the Web3 space are invaluable to the Aptos ecosystem, and its team is committed to creating a favorable environment for innovation and growth, which is completely aligned with our vision for Aptos. We are excited to use their insights and resources to further the development of the Aptos ecosystem and promote the implementation of some of the most innovative projects.”
Mo Shaikh, CEO of Aptos Labs, said: “Aptos Labs is a member of the Aptos Ecosystem and will provide blockchain support and consulting work to the joint accelerator. Led by OKX and the Aptos Foundation, this joint ecosystem growth fund and accelerator will be critical to solidifying Aptos’ position as a Move-based L1, validating new use cases, and bringing Web2 developers to Web3.”
Applications for the Ankaa Accelerator Program will open in August this year. OKX Ventures, Aptos Foundation, and Ankaa welcome all interested developers and projects to contact the team at https://ankaalabs.typeform.com/accelerator.
About OKX Ventures
OKX Ventures is the investment arm of OKX, a leading crypto asset exchange and Web3 technology company. With an initial capital of $100 million, it focuses on discovering the best blockchain projects worldwide, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value. OKX Ventures is committed to supporting entrepreneurs who contribute to the development of the blockchain industry, helping them build innovative companies, and bringing global resources and rich experience to their projects. https://www.okx.com/zh-hant/ventures
About the Aptos Foundation
The 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 blockchain with seamless usability, the 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 continue to evolve, improve performance, and strengthen user protections. Please visit https://www.aptosfoundation.org to learn more about the Aptos blockchain.
About Ankaa
Ankaa is a Web3 accelerator jointly launched by Aptos, OKX Ventures and ALCOVE, dedicated to promoting innovation and helping founders thrive in Web3. Founded by experienced entrepreneurs and technical leaders from top Web2 and Web3 companies, Ankaa provides funding, guidance and resource support to early-stage Web3 startups. Ankaas mission is to help visionary founders create blockchain applications and build real-world use cases for mass adoption. Ankaa aims to transform innovative ideas into leading products and shape the future of the decentralized economy.
Disclaimer
This article is for reference only and represents the authors views only, not the position of OKX. This article is not intended to provide (i) investment advice or investment recommendations; (ii) an offer or solicitation to buy, sell or hold digital assets; (iii) financial, accounting, legal or tax advice. Please consult your legal/tax/investment professional for your specific situation. Please be responsible for understanding and complying with local applicable laws and regulations.
